Folkstone Capital Corp. announced the appointment of three new directors. Pursuant to a binding letter of intent dated November 14, 2012, it is proposed that the current directors and officers of the corporation will resign and that three new directors, namely Eric Owens, Mario Miranda and Eddy Canova will be appointed to the board, subject to regulatory approval.

It is anticipated that Mr. Owens and Mr. Miranda will serve as Chief Executive Officer and Chief Financial Officer respectively of the corporation. Eric Owens is President, Chief Executive Officer and a Director of Alexandria Minerals Corp. He has a PhD in geology, co-founded Alexandria and helped guide it to its present status as one of the principal explorers in Val d'Or, Quebec.

Mr. Owens has 27 years of experience in the mineral exploration industry in North America, Mexico and Central America and has previously held positions with Newmont Mining Corporation, BHP Minerals International Exploration Inc., Phelps Dodge Corporation, and Echo Bay Mines Limited. Mario Miranda is currently the CFO of Alexandria. Mr. Miranda is a Chartered Accountant with extensive experience in the resources industry and has held various senior financial positions including Chief Financial Officer at Alturas Minerals Corp.

(where he continues to serve in this role), former Chief Financial Officer at Lake Shore Gold Corp. and White Pine Resources Inc. and Interim Director for Financial Reporting for Kinross Gold Corporation. He is a member of the Ontario Institute of Chartered Accountants (ICAO).

Eddy Canova has over 25 years of experience in the mineral exploration industries of Canada, Venezuela, Mexico, and West Africa and four years of experience in mineral production in Venezuela. Mr. Canova joined Oceanic Iron Ore Corp. in January 2011 as Director of Exploration.

Mr. Canova has a Bachelor of Science degree in geology from McGill University and continually updates his knowledge through professional short courses, university courses and publications.