Dalradian Announces Additions to Management Team
TORONTO, ONTARIO -- (Marketwire) -- 09/06/12 -- Dalradian Resources Inc. ("Dalradian") (TSX: DNA) announced today that it has made two additions to the senior management team at its corporate offices. Effective immediately Timothy Warman M.Sc, P.Geo, will assume the position of President, with Patrick F. N. Anderson remaining Chief Executive Officer of Dalradian. Michele Cote M.Sc, P.Geo, will be appointed as Vice President - Exploration, while Thomas Obradovich will transition from the role of Lead Director to that of Chairman of the Board.
"I have known and worked with both Tim and Michele for more than 20 years, and I am pleased they're joining an already strong group at Dalradian. Along with Tom Obradovich as Chairman, we're building a team that can quickly advance our Curraghinalt project in Northern Ireland, as well as our more grassroots exploration efforts in Norway, " stated Patrick F.N. Anderson, CEO.
Mr. Warman is a professional geologist with over 20 years of experience in all phases of the mining industry, from grassroots exploration through feasibility and development. He was most recently President and CEO of Malbex Resources, which discovered the Del Carmen oxide gold deposit in Argentina. Previously, Mr. Warman was Vice President, Corporate Development of Aurelian Resources Inc., where he supported the exploration team in Ecuador, initiated and managed early-stage development studies, marketed Aurelian to international investors and played a significant role in successfully negotiating the $1.2 billion acquisition of Aurelian by Kinross Gold Corporation. Prior to Aurelian, Mr. Warman held senior positions in a number of mining and exploration companies in North America, Africa and Europe, and has worked extensively in Scandinavia, including projects in Norway and Finland. Mr. Warman is a graduate of the University of Manitoba (MSc) and McMaster University (BSc) and a member of the Association of Professional Geoscientists of Ontario.
Ms. Cote has over 17 years' experience as an exploration geologist where 16 years were spent with MPH Consulting Ltd. Over the past few years, she was involved in the conceptual development and management of exploration programs. She has worked on numerous projects worldwide, from grassroots to advanced stage, for a variety of commodities including: gold, base metals, nickel, uranium, rare earth elements, diamond, and iron ore deposits. She has prepared or assisted with many independent, technical National Instrument 43-101 reports on mining properties. She possesses a wide range of technical and managerial skills related to mineral exploration including 3D modelling of mineral deposits, and interpretation and analysis of geological data using GIS software. Ms. Cote is a graduate of the University of Toronto (BSc and MSc) and a member of the Association of Professional Geoscientists of Ontario.
Mr. Obradovich has more than 30 years experience in mining exploration, development and financing. He was one of the key players behind Aurelian Resources Inc., which discovered the Fruta Del Norte gold deposit in Ecuador. Mr. Obradovich acquired most of the Matachewan gold camp and through a reverse takeover of Young-Davidson Mines Ltd., upgraded and doubled the resource, which was subsequently acquired by Northgate Minerals in 2005. He was also the co-founder of Canadian Royalties Inc., which discovered and developed the Raglan south nickel belt. Mr. Obradovich is a graduate of the Haileybury School of Mines in mining technology and advanced field geophysics.
About Dalradian Resources Inc.:
Dalradian Resources Inc. is a TSX-listed, Canadian based exploration company engaged in the acquisition, exploration and development of gold, base metals and other precious metals projects. With a European focus, our most advanced property is in Northern Ireland and focuses on and around the high-grade mesothermal gold deposit, Curraghinalt.
The Company's wholly owned subsidiary, Dalradian Gold Limited, holds a 100% interest, subject to certain royalties, in mineral prospecting licences and mining lease option agreements in counties Tyrone and Londonderry, Northern Ireland. The Department of Enterprise, Trade and Investment ("DETI") and the Crown Estate Commissioners ("CEC") have together granted to Dalradian base and precious metal mineral exploration rights to four contiguous areas collectively known as the Tyrone Project.
Dalradian's flagship deposit, Curraghinalt hosts an NI 43-101 compliant measured mineral resource of 0.02 MT grading 21.51 g/t gold for 10,000 contained ounces, indicated mineral resource of 1.11 MT grading 12.84 g/t gold for 460,000 contained ounces and inferred mineral resource of 5.45 MT grading 12.74 g/t for 2,230,000 contained ounces. Dalradian's NI 43-101 report, "An updated Mineral Resource Estimate for the Curraghinalt Gold Deposit, Tyrone Project, County Tyrone and County Londonderry, Northern Ireland" is dated January 10, 2012 and effective November 30, 2011, prepared by Messrs. Hennessey and Mukhopadhyay of Micon International Limited, and is available on SEDAR at www.sedar.com.
In Norway, Dalradian holds mineral rights for approximately 1.7 million hectares over three greenstone belts, as well as an area hosting an historic silver mining district. Dalradian is engaged in data acquisition and analysis over all its concessions, with field programs underway over its Kongsberg and Kautokeino concession areas.
Dalradian's Common Shares are listed on the Toronto Stock Exchange under the symbol "DNA". For further information, please see www.dalradian.com.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases 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 are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "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 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, except as may be required by applicable securities laws. 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.
Contacts:
Dalradian Resources Inc.
Shae-Lynn Mathers
Director, Investor Relations
+1.416.583.5622
investor@dalradian.com
www.dalradian.com