Calico Announces Management Change
VANCOUVER, May 14, 2012 /PRNewswire/ – Calico Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) (the “Company” or “Calico”) is pleased to announce that Arden (Buck)
Morrow, the Chairman of Calico, has agreed to accept the additional
positions of President and Chief Executive Officer of Calico.
Mr. William S. Wagener has resigned as President and Chief Executive
Officer of Calico for personal reasons and in order to pursue other
business opportunities. Calico wishes to express its appreciation for
Mr. Wagener’s dedication and diligence while working with the Company.
Mr. Morrow stated, “As the new President and Chief Executive Officer, my intention is to work
closely with our team of skilled professionals in order to guide the
Company through the next critical steps necessary for the exploration
and development of Calico’s Grassy Mountain Project.”
About Grassy Mountain
The Grassy Mountain Project contains NI 43-101 compliant (see March 29,
2012 Technical Report) Indicated resources of 1,271,300 ounces of Au in
37,471,000 tonnes averaging 1.055 g/t at a 0.34 g/t cutoff and Inferred
resources of 305,600 ounces of Au in 15,733,300 tonnes averaging 0.604
g/t at a 0.34 g/t cutoff. Contained in the resource above, is a higher
grade NI 43-101 compliant resource suitable for underground mining with
Indicated resources of 540,200 ounces Au in 3,195,400 tonnes averaging
5.258 g/t at a 2.06 g/t cutoff and Inferred resources of 58,500 ounces
Au in 302,600 tonnes averaging 6.010 g/t at a 2.06 g/t cutoff.
Vance Thornsberry, Calico’s Vice President of Exploration, is a
Qualified Person as defined by National Instrument 43-101 and has
reviewed and approved the technical contents of this release.
On behalf of the Board,
Arden (Buck) Morrow
President and CEO
“Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.”
SOURCE Calico Resources Corporation