Their company's business is mineral exploration, resource development, and where appropriate, the development of strategic resource investments.
In pursuing its objectives, Cannon Exploration Inc:

Focuses its technical and managerial skills on prospective geological environments such that well managed and efficient evaluation will unlock the potential for the discovery of significant economic mineral deposits.

Undertakes the evaluation of advanced projects either within the Company's own landholding or sourced externally that meet specific financial hurdles to sustain medium to long term, profitable mining operations.

Pursues and develops strategic alliances involving other commodities. This ensures a low risk approach where Cannon Exploration Inc. can assist with technical and managerial resources, and provide shareholders indirect exposure to exploration success over a range of resource development opportunities.

 

Strategy

Cannon Exploration Inc. will aggressively be acquiring and developing early stage mineral exploration projects in Canada. To develop these projects, they have assembled an expert technical team of geologists, technicians and geographic information system specialists. Seasonally they also contract geologists specializing in specific types of mineralization to assist with their field programs.

Cannon Exploration Inc primary strategy is to employ a joint venture model to advance the properties, reduce the risks of exploration to shareholders while maintaining a significant interest in the property in the event of a discovery. The work conducted by any of their joint ventures partners will enhance their mineral exploration program.

The next step of their strategy is to spin-off successful exploration projects into new companies, spotlighting their value in order to increase shareholder equity.

 

A brief business model that Cannon Exploration Inc. follows is:

Acquisition of highly prospective grass roots and semi developed mineral exploration projects.

Develop these projects using Joint Venture participation.

Spin-off developed projects to create value for shareholders which also simplifies the project for the market place and makes it accessible to producing companies.

 

Mission

Cannon's mission is to explore and develop precious metal exploration properties with the objective of delineating mineral resources. Theirr strength is their understanding of the latest mining technologies and experience in the mining and exploration business.

They have taken great effort to assure their shareholders that the properties they explore warrant the investment of time, effort and financial commitment required to make them into tomorrow's mines. They hope that you will join them in this exciting and rewarding search. They adhere to a strict code of development for maximum value for their company including.

 

Corporate Mission

Discover multiple mineral deposits utilizing in-house team of top-tier geologists applying cutting edge geologic concepts.
Aggressive property acquisition.
Seek partnerships to advance and develop portfolio of properties through exploration alliances, lease/ option agreements, and joint-ventures.

 

Projects

Cannon has acquired an option for 100% interest in the formerly producing Queen Alexandra mine, located just outside of Dryden in northern Ontario, Canada. The mine consists of one shaft and one exploration pit which are 65 meters apart, and seven trenches.

The Queen Alexandra Mine has known gold values, having produced gold in the past. In the early 20th century, an English mining syndicate sank an 85 foot shaft and milled 18 tons of ore, grading 16.6 ounces of gold. Cannon Exploration has conducted limited ground geophysical surveys on the project, which have indicated a conductive zone in the immediate shaft area located on the property. The survey also reconciles with and supports the known historical information that mineralization is present in that area, and trends along the same zone where the one shaft and exploration pit, as well as several trenches, exist.

 

Management

Edwin Solano, Chief Executive Officer and President

Edwin Solano has been the Chief Executive Officer and President of Cannon Exploration, Inc. since January 14, 2009. Mr. Solano serves as Treasurer and Secretary of Geoandina Mining Corp. Mr. Solano served as an Executive Machinery Technician for a large construction machinery company in Canada. He served as an Executive Coordinator of Parts and Labour over six years for a well-renowed North American vehicle manufacturer. Mr. Solano has extensive background in Business Administration.

Gilbert Oliveros, Director

 

Welcome to Cannon Exploration

January 25th, 2010

Dear Shareholders
It is my pleasure to introduce myself to you as the new president and Chief Executive Officer of Cannon Exploration. My considerable experience with exploration and mining companies in North and SouthAmerica will serve Cannon well in developing it into an exploration company to be reckoned with.

I would like to thank Mr. Gilberto Oliveros for the hard work and dedication that he brought to the Company during his time as Presidentof Cannon Exploration. He will remain as a Director and the Company will continue to benefit from his valuable insight and experience inthe exploration industry.

We realize that many shareholders have been frustrated with the lack ofnews/information flow in the past. My first order of business has been to increase the transparency of Cannon Exploration to the investment community by filing appropriate documentation with the authorities. Itis my belief that investors must have access to as much information aspossible in order to make educated investment decisions and under mytutelage, Cannon will make every effort for better investor communication.

We continue to be excited with the prospect of gold's performance. It remains strong and many analysts believe that the gold spot price will break through $1,200/oz in the second quarter of 2010 as investor demand is driven by fears of a double dip recession, continuing huge government deficits, very loose monetary policy and potentially significant inflation is set to return. The incentives to invest ingold should therefore be powerful this year, and should also be reflected in companies involved in gold exploration.

Cannon intends to further develop its Queen Alexandra gold mining project. The Queen Alexandra Property is located just outside of the town of Dryden, in Northern Ontario, Canada. The property has historical gold values, and a recent survey reconciled and supported the known historical information that mineralization is present in that area, and trends along the same zone where several trenches and the Queen Alexandra shaft and exploration pit exist. We believe that theQueen Alexandra project has tremendous potential and intend to significantly further its development.

The Company will also continue to focus its acquisition strategy on gold opportunities in North America, and in particular, Canada. Our exploration strategy is based on selecting properties that fulfill the basic geological criteria required for the possibility of gold mineralization. The Company will also use its best efforts to deploy ethical business strategy regarding all acquisitions, property development, and reporting of same to its shareholders.

We look forward to a successful New Year as we continue to explore and develop our projects and implement strategies to increase shareholder value.

Sincerely yours,
Edwin Solano

 

Insider Transactions by CANNON EXPLORATION INC (CNEX)

On December 1, 2009 Bloomberg L.P. acquired BusinessWeek. As a benefit of the acquisition, BusinessWeek.com will soon feature Bloomberg's extensive market data, company profiles, and business headlines. In the meantime, please be patient as we make the technology changes required to feed that data into these pages.

 

Key developments for CANNON EXPLORATION INC (CNEX)

Cannon Exploration Inc. Provides Drilling Update 09/25/2008

Cannon Exploration Inc. announced that the initial reconnaissance program undertaken on the Queen Alexandra Gold Mine, located outside of Dryden in Northern Ontario, Canada, has been completed. A limited ground geophysical survey conducted by Major Management Exploration Services (MMES) indicated a conductive zone in the immediate shaft area located on the property. The survey also reconciles with and supports the known historical information that mineralization is present in that area, and trends along the same zone where the one shaft and exploration pit, as well as several trenches, exist. Cannon will now move to the next stage of exploration by establishing a complete grid of the property with a control baseline, and conduct additional ground geophysics, east and west of the shaft. This next phase will also include the collecting of rock samples along the geophysical conductor axis, and thorough investigation of the old shaft area and rock structure. Cannon Exploration will commence with this next phase of exploration on or about October 01, 2008.

Cannon Exploration Inc. has Changed its Ticker to CNEX from CTSO 04/8/2008

Effective April 08, 2008, Cannon Exploration Inc. changed its OTCPK stock ticker symbol to CNEX from CTSO.

Citisource Inc. has Changed its Name to Cannon Exploration, Inc 04/8/2008

On April 08, 2008, Citisource Inc. changed its name to Cannon Exploration Inc.

GEOLOGY

Ministry of Natural Resources
Ontario Mining Association
Geological Survey of Canada

 

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Contact CNEX.PK

www.cannon-exploration.com
Address:
2575 East Camelback Rd.
Suite 450
Phoenix, AZ 85016
Phone: (602) 343-2266

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