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PacificOre (VanadiumCorp) dissident nominates Bakker, Pearce to board


Mr. Roger Shook, concerned shareholder, reports


Shareholders of PacificOre Mining Corp.,

I bought my first shares of PacificOre Mining Corp. when the company name was Novawest Resources in July, 1993. Today, I control 8,639,288 shares and warrants of the company. I am a serious shareholder, and want and demand change.

Most of these 20 years, I have recommended the stock to friends and loved ones. I always thought this company stood above the storied Vancouver phony mining companies, companies where there were sometimes no underlying assets or worthless assets, companies where the promoters enriched themselves and the stockholders lost everything. I defended this company’s management to so many people as honourable, straightforward businessmen with solid assets in the ground. I believe the latter, solid assets in the ground, is true, I am unsure of the former. I never sold any shares, I have never had a “pay day.” The stock never attained a stable and growing value. There were some short-lived price spikes to be sure, but not sustainable to reward shareholders with a very substantial gain. I stuck with believing it was real but stopped recommending to anyone recently, as I continued buying stock through the years.

I believe the vanadium assets the company holds are not fictitious but worth a fortune (over $100-billion). The baffling aspect of the current turmoil is that recent and current management has been unable or unwilling to advance the projects to proven feasibility for the good of all shareholders. What are they waiting on!

It cannot be “lack of funds” as I, personally, have completed private placements of $142,500 in the past year, and the company received $300,000 from the Quebec government recently. So, it is not “lack of funds” inhibiting moving forward, but rather, “managing funds,” to fulfill the mission of the company which “should be” completing exploration and feasibility. “Should be” is emphasized because I cannot find a mission statement in the company website or the notice Of annual general meeting of shareholders, which they so wrongly and cowardly cancelled for their own protection, certainly not for the benefit of shareholders. If the meeting had gone forward, management would have been gone April 26, 2013, and new management would be in negotiations to benefit shareholders.

What is going on? I hear they do not answer the phones. They cannot be contacted. Are they taking money from the company, rewarding themselves bonus? Are they trying to destroy the company by some shady deal to move our vanadium assets to another entity and eliminate us from legitimate participation in the success that is possible? How do we know? Have they set a new AGM? Do we shareholders want this board to select our chief executive officer without input from us? Why should we trust them to do this? They could appoint someone they can control who’s goal could be to cut us out of the picture. How many shares do they own? Should shareholders join together to take legal action against the remaining directors to protect ourselves?

I call upon the current board of directors to fix the problem. The board should appoint Adrian Bakker and Steven Pearce to the board, and appoint Mr. Bakker to CEO. Mr. Bakker has been a steadfast and dedicated man of action who raised the vast majority of capital for PacificOre for the last five years. He has made connections to companies and individuals who want to assist in financing further drilling to prove feasibility and value, and moving the company toward production. Mr. Pearce is a respected corporate lawyer in the bustling Vancouver business community who will be dedicated to protecting the shareholders of this company.

I also call upon individual shareholders to make your voices heard. If you agree with my position, I think it would be a good thing for management to see a large number of news releases from other shareholders, either by copying this release stating “agreement with disgusted shareholder,” or even better, write your own thoughts in your own words. You should add the number of shares you control so everyone, management, shareholders, government regulators and the public, can see the numbers of shares held by shareholders who are tired of being ignored and who want change. If you do this, I will issue an update every morning of the total shares/warrants supporting Mr. Bakker and Mr. Pearce. I hope to see a tremendous amount of support voiced for Adrian Bakker and Stephen Pearce. Lets see if we can get support to 100 million shares and warrants.

Shareholders for change, thanks for your time in reading this.

Yours sincerely,

Roger Shook

Palm Springs, Calif.