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Altair Resources (AVX: CA) appoints Shipes as CEO

The board has appointed Mr. Shipes as chief executive officer of Altair Resources (AVX: CA) and will work to continue the acquisition, exploration and development programs initiated by Mr. Huguet

Altair Resources Inc. (AVX:
has provided an update. Harold (Roy) Shipes, president and
chief operating officer of Altair Resources, yesterday announced the sudden and
tragic passing of John Huguet, chairman and chief executive officer of Altair
Resources. Said Mr. Shipes: “With Mr. Huguet’s passing, the company lost
one of the finest mining executives and a genuine leader and consummate

“John will be missed as his passing is a loss and again I
want to pass on my condolences to John’s family.”

The board has appointed Mr. Shipes as chief executive officer of
the company and will work to continue the acquisition, exploration and
development programs initiated by Mr. Huguet without interruption and with the
assistance of the company’s board, advisory board and extremely capable staff.
Mr. Shipes is a metallurgical and mining engineer who brings a wealth of
experience, global perspective and keen sense of shareholder value to the board
of Altair Resources. Mr. Shipes has 44 years mining experience in senior
positions in base and precious metals production, engineering, and project
development management around the world. Mr. Shipes has extensive experience in
acquisition and development of projects in the United States, Canada, Peru,
Papua New Guinea, Australia, Honduras, Bolivia, Ireland, Mexico and Venezuela.
He has served as vice-president and general manager of operations of Southern
Peru Copper Corp., one of the largest copper producers in the world, and as
chief executive officer and general manager of Ok Tedi Mining Ltd., where he
developed one of the largest copper mines in the world.

Mr. Shipes added, “I would like to express my thanks to the
board for this appointment and will work to continue with John’s vision for the
company and I look forward to the challenge.”

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