VANCOUVER, Sept. 13, 2012 /CNW/ - Sunward Resources Ltd. ("Sunward" or the "Company") (TSX: SWD) (OTCQX:
SNWRF) announced that shareholders at the Company's annual meeting, held
today, appointed Mr. Gregory A. Lang to the Board of Directors. He will
serve as Chairman of the Technical Committee.
Mr. Lang is President and Chief Executive Officer of NovaGold Resources
Inc., which recently announced approval for commencement of permitting
for its 50%-owned Donlin Gold Project in Alaska. Donlin Gold is one of
the largest undeveloped known gold deposits in the world. Before
joining NovaGold, Mr. Lang was President of Barrick Gold of North
America, a wholly-owned subsidiary of Barrick Gold Corporation
("Barrick Gold"). In that capacity, he held executive responsibility
for Barrick Gold's nine operations in the United States, Canada and the
Dominican Republic. Prior to Barrick Gold, he held progressively
responsible positions with Homestake Mining Company and International
Corona Corporation, both of which are now part of Barrick Gold. Mr.
Lang has over 30 years of diverse experience in mine operations,
project development and evaluations. He holds a Bachelor of Science in
Mining Engineering from University of Missouri-Rolla and is a graduate
of Stanford University Executive Program.
"Stakeholders of Sunward are fortunate to have the depth and the breadth
of experience assembled on its Board of Directors," said Jay Sujir, the
Company's Chairman. "This is particularly valuable as Sunward advances
its Titiribi Project in a staged cost-effective manner."
All other resolutions voted on at the meeting were approved, including
fixing the number of directors elected to the Board at eleven and
appointing the auditors for the ensuing year.
Sunward Resources is a well-capitalized, Canadian-based company focused
on the exploration and development of gold/copper porphyry projects in
Colombia. The 100%-owned Titiribi Project is located approximately 70
kilometres southwest of the city of Medellin, Colombia, in Antioquia
department, within the historical Titiribi mining district (estimated
total production to date of 1.5 to 2 million ounces gold equivalent).
Access is by paved highway from Medellin.
Titiribi currently hosts an NI 43-101 compliant Measured & Indicated
Mineral Resource of 4.6 million ounces gold (within 275.4 million
tonnes grading 0.52 grams per tonne gold and 0.17 per cent copper,
using a 0.3 grams per tonne gold cut-off), along with an additional
Inferred Mineral Resource of 6.4 million ounces gold (within
359.6million tonnes grading 0.56 grams per tonne gold using a 0.3 grams
per tonne gold cut-off; see Report dated June 2012 available at www.sunwardresources.com and on SEDAR).
Titiribi thus contains 6.28 million ounces of gold equivalent in the
Measured & Indicated Resource categories and a further 7.51 million
ounces of gold equivalent in the Inferred Resource category, calculated
on the basis of gold price of $1,114 per ounce and copper price of
$3.07 per pound (See Report dated September 2011 available at www.sunwardresources.com and on SEDAR.)
Cautionary Statement Regarding Forward Looking Information
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," "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.
SOURCE: Sunward Resources Ltd.
For further information:
Investors & Media:
Kimberly Lim, Manager of Investor Relations
+1 604 568 7617
Colin Andrew, CEO
+353 87 241 2290