Sunward Announces Appointment of David Forest to Board of Directors and Further Strengthens its Senior Management Team
VANCOUVER, June 21, 2012 /CNW/ – Sunward Resources Ltd. (“Sunward” or the “Company”) (TSX: SWD; OTCQX:
SNWRF) announced today that Mr. David Forest has been appointed to Sunward’s
Board of Directors effective immediately. In 2009, Mr. Forest
co-founded the Company where he served in the capacity of Chief
Operating Officer until May 31, 2012. He has extensive experience in
geology and exploration and is currently serving as one of the
principals of Notela Resource Advisors Ltd., a consultancy group
involved in identification and capitalization of highly prospective
mineral projects around the world. He holds a B. Sc. (Honors) in
Geology from the University of Alberta.
“Dave has an incredible ability to identify highly prospective
opportunities,” said Jay Sujir, Chairman of the Board of Sunward. “His
technical insights and institutional knowledge will be highly valuable
as Sunward continues to advance its Titiribi project up the value
chain.”
In addition, Sunward is pleased to announce that Graham Kelsey has been
appointed Director of Exploration effective immediately. Prior to
joining Sunward, Mr. Kelsey had a 35-year career in the field of
precious metals exploration. He held senior positions with major
precious metals mining companies such as Newmont Mining Corporation,
Allied Nevada Gold Corporation and Kinross Gold USA. He holds a Master
of Science in Geology Degree from Arizona State University and a B. Sc.
in Geology from Western Washington State College.
“We are pleased to have Graham Kelsey join Sunward due to his extensive
experience and relevant background will be very valuable to the Company
as it continues to maintain the highest levels of integrity in its
field operations and project management,” said Colin J. Andrew, the
Company’s Chief Executive Officer.
The Company also announced that it has granted incentive stock options
to purchase an aggregate of 3,865,000 common shares at $1.49 per share
to certain directors, officers, employees and consultants of the
Company pursuant to the Company’s stock option plan.
ABOUT SUNWARD:
Sunward Resources is a well-capitalized, Canadian-based company focused
on the exploration and development of the 100%-owned Titiribi Project
in Colombia. The Titiribi Project is located approximately 70
kilometres southwest of the city of Medellin, Colombia, in Antioquia
department, within the historical Titiribi mining district (estimated
total production of 1.5 to 2 million ounces gold equivalent). Access is
by paved highway from Medellin.
Titiribi hosts an NI 43 101-compliant Measured and Indicated Resource of
4.6 million ounces of gold contained within 275.4 million tonnes
grading 0.52 grams per tonne and Inferred Resource of 6.4 million
ounces of gold contained within 359.6 million tonnes grading 0.56 grams
per tonne. All Titiribi resources were assessed using a 0.3 grams per
tonne gold cut-off. Titiribi also hosts 279,131 tonnes of copper in
the Measured and Indicated Resource and 176,205 tonnes of copper in the
Inferred Resource. For more information, please see the Company’s press
release dated June 4, 2012 as published on SEDAR and on the Company’s website, as well as the
technical report by Behre Dolbear & Company (USA), Inc. dated June 1,
2012.
Cautionary Statement Regarding Forward Looking Information
This news release contains forward-looking information within the
meaning of Canadian securities legislation. All statements included
herein, other than statements of historical fact, are forward-looking
information. Forward-looking information may include, but is not
limited to, statements with respect to future activities of the
Company; the Company’s plans for its mineral properties; the Company’s
business strategy, plans and outlook; the merit of the Company’s
properties; exploration results; mineral resource estimates; work plans
and timelines; completion of transactions; shareholder value;
projections and targets; the future financial or operating performance
of the Company, its subsidiaries and its projects; operating and
exploration expenditures and costs of future exploration and other
activities; and approvals, permits and licenses. Often, but not always,
forward-looking information can be identified by the use of words such
as “plans”, “expects”, “is expected”, “possible”, “budget”,
“scheduled”, “strategy”, “goal”, “objective”, “potential”, “estimates”,
“assumes”, “forecasts”, “intends”, “anticipates”, or “believes” or
variations (including negative variations) of such words and phrases,
or state that certain actions, events or results “may”, “could”,
“should”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company and/or its subsidiaries to
be materially different from any results, performance or achievements
expressed or implied by the forward-looking statements. Such
uncertainties and factors include, among others, inherent risks
involved in the exploration of mineral properties; risks associated
with foreign operations; risk relating to title to the Company’s
properties; the uncertainties involved in resource estimates and in
interpreting drilling results and other geological data; fluctuations
in currency exchange rates and commodity prices; uncertainties
regarding the issuance of approvals, licenses and permits; risks
related to competition; risks related to the Company’s ability to
acquire additional mineral properties; the availability of and costs of
required financing; economic, political and social uncertainties;
accidents and labour disputes; and political instability, insurrection
or war; as well as those factors discussed under “Risk Factors” in the
Company’s Annual Information Form. Although the Company has attempted
to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the
assumptions, beliefs, expectations and opinions of management,
including but not limited to that the Company’s exploration of its
properties and other activities will be in accordance with the
Company’s public statements and stated goals, that there will be no
material adverse change affecting the Company or its properties,
anticipated costs and timing for the Company’s activities and such
other assumptions as set out herein. Forward-looking statements are
made as of the date of this news release and the Company disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or results or otherwise,
except as required by law. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance
on forward-looking statements.
SOURCE Sunward Resources Ltd.
