VANCOUVER, Feb. 21, 2014 /CNW/ - Tanzania Minerals Corp. (TSXV: TZM)
(the "Company") wishes to announce its recent corporate developments.
The Company wishes to put forward its corporate objectives for 2014.
Kal Matharu has stepped down as an officer and director of the public
company, and will focus on the Company's projects at an operational
level in Tanzania, where he will continue as the executive chairman of
the Company's Tanzanian subsidiary, Tansmin Resources (T) Ltd. Robert
Dzisiak has assumed the role of CEO and James Walchuck has become the
Chairman of the Board.
The Company's operational focus for 2014 will be to continue advance its
current licence portfolio, systematically relinquish licences
determined to no longer be a priority for the Company and continue to
seek out an advanced stage asset to acquire.
Following the Company's 2013 programme to complete ground survey and
initial soil sampling work within all its licences beyond the Mrangi
project in order to start assessing its licence portfolio in Tanzania,
the Company plans to continue to further advance its licenses at
Nyamwaga and Siga. In 2013, the management also dedicated considerable
time reviewing potential targets for acquisition, in particular
advanced stage assets existing within Tanzania. This culminated with
the Company entering into a letter of intent to acquire an interest in
the Ikungu project owned by MDN Inc. (announced on October 15, 2013),
which ultimately did not proceed but the Company intends to keep
reviewing opportunistic strategic growth alternatives in 2014.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject
to risks and uncertainties. All statements within, other than
statements of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
or developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, continued availability
of capital and financing, and general economic, market or business
conditions. There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any obligation to
update any forward-looking statements except in accordance with the
SOURCE: Tanzania Minerals Corp
For further information:
For further information contact one of the following at Tanzania Minerals Corp:
Tel: (204) 421-1979
Vice President Business Development
Tel: (604) 569-0866