George Young joins Reliance Board as Non-Executive Director
Appointment strengthens skills and Board presence in North America
RI actively assessing project and growth opportunities in North America
VANCOUVER, Oct. 23, 2013 /CNW/ - Reliance Resources Limited (TSX: RI) ("Reliance") or ("the Company") is pleased to announce the appointment of a seasoned mining executive to the Board of Directors with Mr George Young joining Reliance as non-executive director.
With a Bachelor of Science in Metallurgical Engineering from the
University of Utah, and a J.D. from the University of Utah College of
Law, Mr Young has over 35 years' experience in the mining industry
starting his career as a metallurgist at Kennecott Copper Corp. in Utah
in 1975. He is a former Chair of the Utah Section of the Society of
Mining Engineers and a member (inactive) of the State Bar Associations
of Colorado, Utah, and Texas.
Mr Young is currently a Director of Lion One Metals Ltd. Prior positions
include Vice President and Director of International Royalty Corp.
(2003-2008); President of MAG Silver Corp. (2002-2005). Mr Young also
previously served as General Counsel and Acting General Manager of the
Intermountain Power Agency (1984-1988); General Counsel of Bond
International Gold Inc. (1988-1990); Director of Operations of American
Resource Corporation, (1990-1993); Vice President of Canyon Resource
Corporation (1993-1996); and President and CEO of Oro Belle Resources
Mr Young has undertaken to assist the company in its commercial
negotiations as the company assesses a number of growth opportunities
in North America. He will work closely with Reliance's President
Nicholas Clark in strengthening the company's project portfolio and
driving a growth strategy that delivers improved outcomes for
Reliance's Non-Executive Chairman Mr Gary Lewis commented: "We are
delighted to have attracted George Young to the Board of Reliance. He
brings unrivalled resource sector expertise to the company and a strong
network in North America which will be invaluable as we take the next
step in the company's growth.
"We are working hard for all shareholders to rebuild value in Reliance,
and this involves assessing options for our Indonesian assets, as well
as reviewing suitable corporate and project acquisition opportunities
in North America. In the current market there are a number of
undervalued projects and we intend to capitalise on weak markets and
George Young added: "Reliance has a strong foundation to build a
valuable resources business, and the company's TSX status underpins
this foundation. I am looking forward to working with the Board and
management team to create real value for shareholders."
SOURCE: Reliance Resources Ltd.
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