Trading Symbol: PRS.H
VANCOUVER, Feb. 28, 2012 /CNW/ - Prism Resources Inc. (the "Company") (NEX: PRS.H) announces that the directors of the Company have
appointed Mr. Bob Parsons as a director of the Company and as the
chairman of the Company's audit committee to ensure strong corporate
governance and to maintain a best practices policy on all matters
related to the Company.
Bob Parsons is a Chartered Accountant and retired PricewaterhouseCoopers
partner after a career spanning 34 years. He currently serves on the
Advisory Board of the Indonesian Mining Association and the
International Affairs Committee of the Prospectors and Developers
Association of Canada. He has served on the boards of the PDAC (1985 to
2003), the Indonesian Mining Association, the Canada Indonesia Chamber
of Commerce, the World Mines Ministries Forum, the Canadian Minerals
Industry Federation, the Advisory Council of the Centre for Resource
Studies at Queens University, and the Professional Advisory Board of
the Government of Canada's Petroleum Monitoring Agency. He has also
served on the boards of several listed exploration companies. Mr.
Parsons is active as an independent consultant in developing countries,
where he has advised eighteen governments on mineral policy matters.
Mr. Bob Baxter commented, "I am very pleased to announce the appointment
of Mr. Parsons to the board of Prism Resources Inc. His involvement at
the board level is greatly appreciated, his collective experience in
general business and the resource industry bodes well for the future of
the company due to his valued independent judgement in the management
and guidance of the company."
On behalf of the Board of Directors of Prism Resources Inc.
"Robert W Baxter"
Robert W Baxter
President & CEO
Neither the 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.
Statements contained in this news release that are not historical facts
constitute "forward-looking statements" or "forward-looking
information" within the meaning of applicable securities laws and are
based on expectations, estimates and projections as of the date of this
release. Forward-looking statements include, without limitation,
possible events and statements with respect to possible events. The
words "is expected" or "estimates" or variations of such words and
phrases or statements that certain actions, events or results "may" or
"could" occur and similar expressions identify forward-looking
statements. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered reasonable
by the Company as of the date of such statements, are inherently
subject to significant business, economic and competitive uncertainties
and contingencies. The estimates and assumptions of the Company
contained in this release which may prove to be incorrect, include, but
are not limited to the ability of the Company to secure financing on
the proposed terms and for the aggregate amount. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but
are not limited to: fluctuations in the spot and forward price of gold
or certain other commodities; changes in national and local government
legislation, taxation, controls, regulations and political or economic
developments in Canada, or other countries in which the Company may
carry on business in the future; business opportunities that may be
presented to, or pursued by, the Company; operating or technical
difficulties in connection with mining activities; the speculative
nature of gold exploration and development, including the risks of
obtaining necessary licenses and permits; diminishing quantities or
grades of reserves; and contests over title to properties, particularly
title to undeveloped properties. In addition, there are risks and
hazards associated with the business of gold exploration, development
and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and
gold bullion losses (and the risk of inadequate insurance, or the
inability to obtain insurance, to cover these risks). Many of these
uncertainties and contingencies can affect the Company's actual results
and could cause actual results to differ materially from those
expressed or implied in any forward-looking statements made by, or on
behalf of, the Company. 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. Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans
relating to the future. All of the forward-looking statements made in
this release are qualified by these cautionary statements and those
made in our other filings with the securities regulators in Canada.
These factors are not intended to represent a complete list of the
factors that could affect the Company. Although the Company believes
that the expectations in the forward-looking statements are reasonable,
actual results may vary, and future results, levels of activity,
performance or achievements cannot be guaranteed.
SOURCE Prism Resources Inc.
For further information:
Robert (Bob) Baxter
Prism Resources Inc.
Scott M. Ross
Prism Resources Inc.