Paramax Welcomes New President

Paramax announced that Mr. Mike Smith has joined as President of the Corporation.

Mr. Smith is a Professional Engineer with over 13 years of experience in the oil and gas industry. He has a diverse range of experience that includes operations, engineering, marketing, acquisitions and divestments. Mr. Smith has held senior management positions for the past 6 years over which time he has managed several successful operations. Most recently Mr. Smith held a vice president position with Codeco Energy Group, an international engineering company. At Codeco, Mr. Smith was responsible for the operations of his department which included the designing and preparing of drilling and completion programs, the supervision of field operations and overall management responsibilities.

"We are very excited about having someone with the background of Mike join us, as Paramax moves from the exploration to the development stage of its Idaho project," stated Dave Antony, Chairman of the Corporation.