PERTH, Western Australia, June 16 /CNW/ - Mantra Resources Limited ('Mantra' or 'the Company') (ASX: MRU, TSX: MRL) advises that Mr William (Bill) Smart has been appointed as an alternate director for Mr Colin Steyn effective 16 June 2010. Mr Smart is a key investor in Highland Park S.A. ('Highland Park'), the Company's largest Shareholder and strategic investor. The key investors in Highland Park were instrumental in the founding, growth and development of LionOre Mining International Limited ('LionOre') into a major international mining house.
Mr Smart has over 40 years experience in the mining industry, including 26 years working for the Anglo American Group in Zimbabwe. Most recently, he was Vice President, Corporate Planning of LionOre, until it was acquired by Norilsk Nickel in 2007, the world's largest nickel company. Prior to joining LionOre, Mr Smart held a number of senior executive positions in the industry, including Managing Director of Bindura Nickel and Zimbabwe Alloys, and CEO of both Zimasco and Mimosa Mining Company.
The directors of Mantra are delighted to welcome Mr Smart to the Board as an alternate director. His proven management skills and development expertise, particularly in southern Africa, will be invaluable as the Company strives to fulfil its strategic objective of becoming a significant uranium producer in the near-term.
This news release contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to pre-feasibility and definitive feasibility studies, the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this news release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Annual Information Form.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
For further information regarding the Mkuju River Project, including a description of Mantra's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Mkuju River Project please refer to the technical reports prepared in accordance with NI 43-101 entitled "January, 2010 Resource Update - Mkuju River Project" dated 10 March 2010, "December, 2009 Resource Update - Mkuju River Project" dated 7 December 2009, and "Technical Report on the Mkuju River Project located in Tanzania, Africa" dated 18 September 2009, which are available on the Company's website and under the Company's profile at SEDAR.
SOURCE MANTRA RESOURCES LIMITED
For further information: For further information: Peter Breese, Chief Executive Officer, Tel: +27 82 888 6852