SUNWARD APPOINTS A CHAIRMAN AND APPOINTS 4 NEW DIRECTORS TO THE BOARD
TSX-V: SWD
VANCOUVER, Sept. 9 /CNW/ - Sunward Resources Ltd. ("Sunward") (the "Company") is pleased to announce the election of 4 new directors at the AGM of the Company held on September 8, 2010 and the appointment of Michel Juilland as Chairman of the Board.
Michel Juilland - Chairman and Director - is a Mining Engineer from the Colorado School of Mines with an extensive and distinguished family history of mining and mineral exploration throughout Latin America and Africa. Mr. Juilland is President and Director of Goldplata Mining International Corporation - a firm holding several mineral properties throughout South America. Mr. Juilland was a Founder, former Directeur General and Director of Auplata SA and a former CEO and Chairman of Guyanor Resources - a subsidiary of Golden Star Resources.
William Hayden - Director - holds a Bachelor of Science (Hons) in Geology from Sierra Nevada College, Nevada, USA. Mr. Hayden is a geologist with over 36 years experience in the mineral exploration industry, much of which has been in Africa and the Asia-Pacific region. Mr. Hayden was the founder and President of Ivanhoe Nickel and Platinum (formerly African Minerals Ltd.), a Canadian company which has assembled extensive mineral holdings in South Africa, Zambia, and the Democratic Republic of Congo. Since 1986 Mr. Hayden has worked in a management capacity with several exploration and mining companies both in Australia and overseas. Mr. Hayden is President of Ivanhoe Philippines, Inc. (an Ivanhoe Mines wholly owned subsidiary), President of GoviEx Uranium Inc., a director of Globe Metals & Mining Ltd, GoviEx Niger Holdings Ltd, Sky Alliance Resources Inc., and Ivanhoe Nickel and Platinum Ltd (and its Australian subsidiaries).
James H. Dunnett - Director - is a successful business leader with extensive international experience in corporate management and investment banking activities, primarily focused on North American publicly listed companies in the resource industry. Mr. Dunnett is Principal of Xystus Group - a firm providing financial advisory services to the mining industry.
Jay Sujir - Director - is a corporate, securities, and natural resource lawyer with extensive experience in advising and assisting public companies in Canada. Mr. Sujir has been a Partner of Anfield Sujir Kennedy & Durno LLP since 1991 and is a member of the Law Society of British Columbia, the Canadian Bar Association, and the British Columbia Advisory Committee of the TSX Venture Exchange.
Mr. David Boehm chose not to stand for re-election. The Board of Directors of Sunward Resources Ltd. would like to thank Mr. Boehm for his invaluable effort and guidance and wish him the best of luck and success in his future endeavours.
About the Titiribi Project:
The Cerro Vetas mineralized body at Sunward Resources' Titiribi project hosts an inferred resource of 230 million tonnes at an average grade of 0.5 g/t gold and 0.2% copper using a 0.3 g/t gold cut-off (NI 43-101 technical report dated May 19, 2010).
The project is located approximately 70 kilometres southwest of the city of Medellin, Colombia in Antioquia Department, within the historic Titiribi mining district (estimated total gold production of 3 to 5 million ounces). Access is by paved highway from Medellin.
Mineralization at Titiribi is hosted within a number of porphyry stocks and porphyritic dykes and sills. The dominant mineral associated with mineralisation is chalcopyrite, which occurs as disseminations and in veinlets. Plagioclase and secondary biotite are also significant within the mineralized assemblage. Mineralization appears to be related to extensive potassic alteration, with propylitic and argillic alteration also widespread, along with lesser phyllic alteration.Over 23,000 metres of drilling have been completed at Titiribi to date, including approximately 14,600 metres completed historically by previous operators including Gold Fields and Windy Knob Resources, along with more than 9,000 metres completed by Sunward Resources. The mineralized body at Cerro Vetas remains open in all directions and at depth. Sunward Resources currently has four drill rigs working at the Titiribi project.
About the Company:
Sunward Resources is a well-capitalized Canadian based company focussed on the exploration of gold/copper porphyry projects in Colombia. The Company has strong operational expertise in Colombia and is currently drilling its Titiribi Project southwest of Medellin with a goal of increasing the NI 43-101 inferred resource.
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Sunward Resources Ltd. and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "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", "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 Sunward Resources Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Sunward Resources Ltd. disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. 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, the reader is cautioned not to place undue reliance on forward-looking statements.
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.
For further information: SUNWARD RESOURCES LTD., Investor Relations: Scott Koyich, (403) 619-2200, [email protected]; Corporate Contact: David Forest - COO, (604) 417-2960, [email protected]
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