SUDBURY, ON, April 16 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V)
(the "Company") today wishes to announce the following changes to the
Company's management group and Board of Directors.
Mr. Kim Tyler has been appointed President of the Company. Mr. Tyler has
recently resigned his position as Chief Geologist at the Frood Stobie Mine in
Sudbury for CVRD Inco, where he led the mines production geology team prior to
accepting the position at Canadian Arrow Mines Ltd. Mr. Tyler brings over
27 years of mine operating, as well as exploration experience involving both
open pit and underground environments. Mr. Tyler has held increasingly senior
posts with senior mining companies such as Teck Cominco, Royal Oak Mines, Rio
Tinto Minerals (a subsidiary of RTZ) and most recently with CVRD Inco in
Sudbury. As Chief Geologist of the Pamour Mine, Timmins, Mr. Tyler developed
and managed the strategy for the Pamour "Superpit" that is currently the focus
of Goldcorp's mining operation in Timmins. As Mine Manager for Rio Tinto
Minerals' Penhorwood Mine and Concentrator, (ISO 9001 quality certified), near
Timmins, Ontario Mr. Tyler oversaw the implementation of its ISO14000
environmental certification, (the second mining operation in Ontario to have
achieved such status), as well as a complete plant modernization and a nearly
three-fold increase in production. As well, Mr. Tyler implemented an ISO 18000
compliant safety system with zero lost time injuries incurred during his
tenure. Mr. Tyler's record demonstrates his strong commitment to the
environment and safety while at the same time optimizing business objectives.
Mr. Tyler obtained his B.Sc. degree in Geology from Brock University and
is a practicing Professional Geologist in Ontario and British Columbia.
Mr. Tyler's main responsibility at Canadian Arrow will be to manage the
Company's day to day operations as it works towards the objective of bringing
the Kenbridge Nickel Deposit towards a production decision over the next
several months. Mr. Tyler will also be a key member in refining the Company's
Mr. David Larche has resigned as President and CEO of the Company in
order to concentrate his efforts on his ongoing private business interests.
Mr. Larche was instrumental in getting the Company relisted on the TSX Venture
Exchange in 2004 and has been a strong advocate within management to continue
with the Company's strategy of becoming an established nickel producer in
Canada. Mr. Larche remains a significant shareholder in the Company and will
remain a director of the Company.
Replacing Mr. Larche as CEO of the Company is Mr. Dean MacEachern.
Formerly Vice President of Exploration for Canadian Arrow, Mr. MacEachern's
new role will be to work with the Board of Directors and management in order
to implement the Company's strategic plan of becoming a premier nickel
sulphide explorer and producer in North America. Mr. MacEachern will also work
closely with the new management group to ensure that the objectives as set out
by the board are achieved in a timely fashion.
Todd Keast has been appointed Vice President of Exploration. Mr. Keast
has been the Company's Exploration Manager over the last year and has been
mainly responsible for overseeing the recent NI43-101 compliant resource
calculation for the Kenbridge Nickel Deposit completed by SRK (Canada)
Consulting Inc. He was also instrumental in establishing a strong portfolio of
nickel sulphide projects in northwestern Ontario. Not only will Mr. Keast
continue to put in his geological support required for the Kenbridge Nickel
Project but in his new role he will also assist in the strategic acquisition
of potential new projects in line with the Company's growth plan.
Dean MacEachern, CEO, commenting on the new management changes stated:
"Firstly I would like to thank David Larche for his work over the last
3 years. Dave has remained at the helm longer than he would have liked given
his other business interests. However he has been an enthusiastic supporter of
our vision to become a premier North America focused nickel sulphide explorer
and developer. Canadian Arrow has an aggressive growth strategy and through
his support and patience it has allowed us to build what I believe is a strong
management group that will help the Company in achieving that objective.
I would also like to welcome Kim Tyler to the management group at
Canadian Arrow. Kim has a tremendous background in mining and exploration
which will be invaluable to the Company as we look to advance the Kenbridge
Nickel Deposit and the other projects in our portfolio. Kim has a solid record
of finding safe, cost effective and innovative solutions when it comes to
defining and mining ore, both within large and small mining companies. We are
extremely pleased that a person of Kim's qualifications and skills has decided
to join our group. Kim will work closely with Todd Keast, our new Vice
President of Exploration, and Garett Macdonald, our new Vice President of
Operations to help achieve the Company's objectives and implement the strategy
as outlined by the board of directors. I am confident that these core
individuals in our management group will lead the Company forward to become a
premier nickel sulphide explorer and developer."
The Company also announces that, subject to regulatory approval,
incentive stock options have been granted to certain directors, officers and
employees entitling them to purchase up to an aggregate of 1,550,000 shares of
the Company at a price of $0.61 per share, exercisable until April 15, 2012.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines are listed for trading on the TSX
Venture Exchange under the symbol "CRO".
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For further information:
For further information: visit the website at www.canadianarrowmines.ca,
or call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd.,
Dean MacEachern, CEO, Tel: (705) 673-8259, E-mail: firstname.lastname@example.org;
CHF Investor Relations, Barry Leung, Tel: (416) 868-1079 ext. 247, E-mail:
email@example.com; or Cathy Hume, CEO, Tel: (416) 868-1079 ext. 231, E-mail: