/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
VANCOUVER, Dec. 4, 2013 /CNW/ - Firesteel Resources Inc. ("Firesteel" or the "Company") (TSX.V:FTR) is pleased to announce that Mr. Ian Fodie has been appointed Chief
Financial Officer effectively immediately. Mr. Fodie replaces Ms. Anna
Lentz, who has resigned to pursue other interests.
Mr. Fodie graduated from the University of Otago, New Zealand, with a
Bachelor of Commerce degree and obtained his professional designation
from the New Zealand Institute of Chartered Accountants, and has now
resided in Canada for over 24 years. Most recently, Mr. Fodie has acted
as CFO of First Bauxite Corporation, CFO of Lithium Americas Corp.,
President & CEO of Oriental Minerals Inc. (now Woulfe Mining Corp.),
and CFO of Longview Capital Partners Inc. (now Resinco Capital Partners
"Ian brings a wealth of international accounting, financial, operations,
and capital markets experience to Firesteel," stated Michael Hepworth,
President and CEO. "On behalf of the board and management of Firesteel,
I would like to welcome Ian to the team. I would also like to thank
Anna for her many contributions to the Company and wish her luck in her
About the Company
Firesteel is an exploration-stage junior mining company engaged in the
acquisition and exploration of prospective precious and base metal
properties in Canada and stable jurisdictions around the world.
Firesteel currently has two highly prospective properties in British
The ROK Coyote property is currently under option to OZ Exploration, a wholly owned
subsidiary of OZ Minerals (ASX:OZE). OZ Exploration has the right to
acquire up to 80% of the property in return for spending $13,000,000 in
exploration expenditures and payment of $1,500,000 in cash to
Highlights of the ROK Coyote property include:
6,900 Ha of highly prospective large tonnage targets with known Cu-Au
Historical drilling highlights - 38.37 m @ 1.32% Cu, 1.54 g/t Au
Adjacent to Red Chris Mine development with P&P Reserves of 302 Mt at
0.365 Cu and 0.27 g/t Au (a 28 year mine life at 30,000 tpd) Imperial
The Sheslay property is currently under option to Prosper Gold. (TSX-V: PGX).
Under the terms of this agreement, Prosper has the right to acquire up
to 80% of the property in return for spending $5,000,000 on exploration
and payment of $1,000,000 in cash and 1,000,000 Prosper Gold shares to
Highlights of the Sheslay property include:
6,700 Ha property hosts five significant Cu-Au targets within close
proximity with large tonnage, high grade potential.
Historical drilling highlight - grading 242.3 m @ 0.44% Cu & 0.32 g/t
Largest of the targets is 1,800 m by 750 m.
The Company's management and board of directors have extensive
experience in exploration, operations, business and corporate finance.
The Company's objective is to enhance shareholder value as a prospect
generator by identifying and securing early-stage exploration
opportunities and developing them to more advanced stages with the help
of joint venture partners.
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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
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of
forward-looking statements are cautioned that actual results may vary
from forward-looking statements contained herein. Forward-looking
statements include, but are not limited to: expectations, opinions,
forecasts, projections and other similar statements concerning
anticipated future events, conditions or results that are not
historical facts. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". While the Company has based
these forward-looking statements on its expectations about future
events as at the date those statements were prepared, the statements
are not a guarantee of the Company's future performance. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, it cannot give any assurance
that such expectations will prove to be correct.
The Company's forward-looking statements are expressly qualified in
their entirety by this cautionary statement and are made as of the date
of this new release. Unless otherwise required by applicable
securities laws, the Company does not intend nor does it undertake any
obligation to update or review any forward-looking statements to
reflect subsequent information, events, results or circumstances or
SOURCE: Firesteel Resources Inc.
For further information:
Firesteel Resources Inc.
President and Chief Executive Officer