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UNITED STATES./
CALGARY, April 16, 2014 /CNW/ - First Mountain Exploration Ltd. ("First Mountain" or the "Company") (TSX Venture: FMX) has filed on SEDAR its audited annual financial
statements ("Financial Statements") and management's discussion and analysis ("MD&A") for the year ended December 31, 2013. First Mountain has also filed
its reports under section 2.1 of National Instrument 51-101 -Standards of Disclosure for Oil and Gas Activities ("NI 51-101 Filings"). Copies of the Financial Statements, MD&A and the NI 51-101 Filings of
the Company are available for viewing at www.sedar.com.
The Company advises that production is temporarily shut in at its Atlee
Buffalo property due to mechanical problems. The Atlee Buffalo
horizontal well at 14-20-21-05W4M experienced a steady decline in
production prior to ceasing production as a result of what the Company
expects is a tubing leak. The Company is reviewing options to confirm
and repair the problems in order to bring the wells back on production.
Further the Company announces that Janet Scase has resigned as
Vice-President Finance and CFO effective April 17, 2014. The Company
wishes to thank Janet for her contributions, assistance and guidance
over the past 3 years and wishes her well in her future endeavors.
The Company has appointed Mr. Rick Hammermeister as Vice-President
Finance and CFO effective April 17, 2014, subject to the approval of
the TSX Venture Exchange.
Neither the TSX Venture nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture) accepts
responsibility for the adequacy or accuracy of this release.
A Note regarding Forward Looking Information
This press release contains forward-looking statements and
forward-looking information within the meaning of applicable securities
laws. The use of any of the words "will", "expects", "believe",
"plans", "potential" and similar expressions are intended to identify
forward-looking statements or information.
Although First Mountain believes that the expectations and assumptions
on which such forward looking statements and information are based are
reasonable, undue reliance should not be placed on the forward-looking
statements and information because First Mountain can give no assurance
that they will prove to be correct.
Since forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These
include, but are not limited to, the risks associated with the oil and
gas industry in general such as operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the
uncertainty of reserve and resource estimates; the uncertainty of
estimates and projections relating to reserves, resources, production,
costs and expenses; health, safety and environmental risks; commodity
price and exchange rate fluctuations; marketing and transportation;
loss of markets; environmental risks; competition; incorrect assessment
of the value of acquisitions; failure to realize the anticipated
benefits of acquisitions; ability to access sufficient capital from
internal and external sources; changes in legislation, including but
not limited to tax laws, royalties and environmental regulations,
actual production from the acquired assets may be greater or less than
estimates; failure to obtain the necessary regulatory approval, stock
exchange and other regulatory approvals on the timelines planned.Management has included the above summary of assumptions and risks
related to forward looking information provided in this press release
in order to provide security holders with a more complete perspective
on First Mountain's future operations and such information may not be
appropriate for other purposes.
The forward-looking statements and information contained in this press
release are made as of the date hereof and First Mountain undertakes no
obligation to update publicly or revise any forward-looking statements
or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
SOURCE First Mountain Exploration Ltd.
<p> William Ambrose<br/> Chief Executive Officer and Director<br/> First Mountain Exploration Ltd.<br/> Telephone: (403) 453-2266 </p>