Silk Road Resources Ltd. Announces Board Changes, Composition For Merger With EurOmax Resources Limited



    TORONTO, May 4 /CNW/ - The board of directors of Silk Road Resources Ltd.
(TSX-V: SIL) ("Silk Road" or the "Company") is pleased to announce that,
effective April 30, 2009, the Board has reorganized itself for the forthcoming
business combination with EurOmax Resources Limited ("EurOmax"), as previously
announced, subject to approval of the transaction by the TSX Venture Exchange
and the respective shareholders of Silk Road and EurOmax. Robert Power is now
the Chair of the Board and will be the Chair of the combined Silk Road/EurOmax
board upon completion of the merger. Robert has been a Silk Road Board member
since 2007 and replaces David Bell who has been the Chair of the Board since
the inception of Silk Road. Allen Palmiere has resigned as the President and
Chief Executive Officer of Silk Road. David Bell will act as interim Chief
Executive Officer of Silk Road and John Menzies, the present Chief Executive
Officer of EurOmax, will continue on as Chief Executive Officer of the
combined company after completion of the merger.
    "I have appreciated the opportunity to be the Chair of the Board to
date," said David Bell. "With the EurOmax merger, Silk Road will be a new
company with expanded opportunities and prospects. I look forward to working
with Robert in his new role as Chair and with the new Board."
    "I am pleased to be able to carry on David's work and thank David for his
vision and contribution to Silk Road's success," said Robert Power. "I also
wish to thank Allen Palmiere for his years of service as Silk Road's CEO. As a
leader of one of the early foreign exploration companies in China, Allen
successfully led the operations in acquiring good quality properties for Silk
Road shareholders."
    Silk Road is in advanced discussions regarding the sale of one or more of
its China properties. Proceeds from a sale will go towards the merger process
and the ongoing operations.
    Existing Silk Road board members David Bell and Tony Patriarco will
continue as board members on the merged board, along with existing EurOmax
board members John Menzies, Chris Serin and Michael Mason. Present Silk Road
Board members Allen Palmiere and Dan Hamilton will continue as members of the
EurOmax Advisory Committee, and will provide advice and guidance on the
numerous projects underway.

    Certain information regarding the Company set forth in this press
release, including management's assessment of the Company's future plans and
operations contains forward looking statements that involve substantial known
and unknown risks and uncertainties. These forward looking statements are
subject to numerous risks and uncertainties, some of which are beyond the
Company's and management's control, including but not limited to, the impact
of general economic conditions, industry conditions, fluctuation of commodity
prices, fluctuation of foreign exchange rates, imperfection of reserve
estimates, environmental risks, industry competition, availability of
qualified personnel and management, stock market volatility, timely and cost
effective access to sufficient capital from internal and external sources. The
Company's actual results, performance or achievement could differ materially
from those expressed in or implied by, these forward looking statements and
accordingly, no assurance can be given that any of the events anticipated to
occur or transpire from the forward looking statements will provide any
benefits to the Company.

    %SEDAR: 00012266E




For further information:

For further information: Robert Power, Chairman, Tel: (416) 363-6040,
Fax: (416) 363-6048, Email: info@silkroadresources.ca

Organization Profile

SILK ROAD RESOURCES LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890