/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
PERTH, Western Australia, March 9 /CNW/ - The Directors of Adamus
Resources Limited (the "Company") (ASX and TSXV: ADU) are pleased to announce
the appointment of Mr Mark Bojanjac as Managing Director/CEO. Mr Bojanjac, who
has been an Executive Director of the Company for 5 years, assumes the role
from Mr Hamish Halliday who will step down as Managing Director as of
Friday 9th of March 2007.
As Managing Director for the past six years Mr Halliday has brought his
experience as an exploration geologist to assist the Company to grow and
define a substantial resource base.
Mr Bojanjac is a Chartered Accountant with a Bachelor of Commerce degree
and has been instrumental in the success of a number of gold companies. He was
a founding director of Gilt-Edged Mining Limited which discovered one of
Australia's highest grade gold mines and was managing director of a public
company which successfully developed the 2.4m oz Boroo Gold Project in
In addition to the new CEO the Company has also appointed Mr Mark
Connelly, currently the Company's Chief Operating Officer, as an Executive
Director. Mr Connelly has over 19 years of experience working in Australia,
Canada and the US in various high level management positions for a range of
resource companies. Mr Connelly's recent work with Newmont Mining brings
additional high level operating experience in Ghana following his direct
involvement in the development of both the Akyem (6Moz) and Ahafo (12Moz)
With the Company now close to completion of a Bankable Feasibility Study
the Board is of the view that this change in management is appropriate as the
company moves towards full scale development.
The two new appointments combined with the experience of existing
directors Mr Geoff M Jones (Mining Engineer) and Mr Gary Brabham (Technical
Director) provides the Company with an exceptional skill base to successfully
develop and operate the Company's Southern Ashanti Gold Project.
The Board of Adamus wishes to thank Mr Halliday for his commitment to the
Company over the past 6 years. Mr Halliday was the founding director of Adamus
Resources and has overseen the growth of the Company from inception through to
a very successful gold exploration company. He remains available to the
Company as a consultant.
The Bankable Feasibility Study into the development of the Southern
Ashanti Gold Project is nearing completion. Capital and operating costs are
being finalized, followed by final pit optimization and design.
The Company anticipates an exciting few months ahead with the completion
of the BFS representing the culmination of several years of work. The study,
currently scheduled for completion in April, will allow the Company to make a
development decision in what is a strong rising gold market.
Detailed information on all aspects of the Company's activities can be
found on the Company's comprehensive website www.adamusresources.com.au.
The TSXV does not accept responsibility for the adequacy or accuracy of
this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
Caution Regarding Forward Looking Statements
Statements regarding Adamus' plans with respect to its mineral properties
are forward-looking statements. There can be no assurance that Adamus' plans
for development of its mineral properties will proceed as currently expected.
There can also be no assurance that Adamus will be able to confirm the
presence of additional mineral deposits, that any mineralization will prove to
be economic or that a mine will successfully be developed on any of Adamus'
For further information:
For further information: Ian Cunningham, Company Secretary, +61 8 9322