VANCOUVER, Jan. 9, 2012 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to announce that it has changed its
name to Reliance Resources Limited. The shareholders of the Company approved the name change at the Company's Annual and Special
Meeting held on November 17, 2011. Subject to the Toronto Stock
Exchange's (the "Exchange") acceptance, the common shares of the
Company will commence trading on the Exchange under the new name and
ticker symbol "RI" at the opening of business on Thursday, January 12,
The name change aligns the Company and its operating subsidiaries in
three continents under the Reliance Brand.
Holders of the Company's share and warrant certificates do not need to
take any action as a result of the name change.
The Company has a portfolio of five mineral tenements covering 68,000
acres on the islands of Sulawesi and Halmahera in East Indonesia. The
projects offer both exploration potential and an existing resource
base. All five projects are adjacent to or along strike from operating
gold mines or identified gold resources with similar geology and
structural feature. Importantly, all projects have been converted to
IUP tenements as required under the new Indonesian Mining Act (2009).
The Company is active on four of its five Indonesian gold projects;
currently drilling on the Tanoyan Gold Project and conducting surface
exploration programs on the Palopo Gold Project, the Kapa Kapa Gold
Project and the Roko Gold Project. All of the projects have easy access
via paved and/or gravel roads and the regional infrastructure is good.
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and
so involve inherent risks and uncertainties, as disclosed under the
heading "Risk Factors" in the Company's periodic filings with Canadian
securities regulators. Actual results could differ from those
currently projected. The Company does not assume the obligation to
update any forward-looking statement.
SOURCE Golden Peaks Resources Ltd.
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