VANCOUVER, March 1, 2019 /CNW/ - Rathdowney Resources Ltd. ("Rathdowney" or the "Company") (TSX‐V: RTH) is pleased to announce that Mr. J.R.H. (Dick) Whittington has been appointed President and Chief Executive Officer of the Company. Mr. Whittington will also be joining the Company's Board of Directors.
Mr. Whittington's distinguished career spans over 40 years with a select variety of mining companies in Canada, Mexico, Panama, Papua New Guinea and Australia. His experience encompasses senior executive and mine management roles that include numerous feasibility studies, mine evaluations, mine development, production, mergers and acquisitions and raising over $1.3 billion of major corporate financings.
"I look forward to assuming a leadership role with Rathdowney and participating in the growth of the Company as we advance the Olza project in Poland" said new Rathdowney President and CEO, Dick Whittington. "I have recently visited the Project Olza site to inspect the field work and review the drilling results, as well as meet with project consultants, and I am very impressed with the work that has been done to date," Mr. Whittington continued. "Clearly, the foundations have been put in place to enable the Olza project to move forward through the permitting and development stage and, ultimately, to creating an international standard, first world mining operation. The strong results from the Preliminary Economic Assessment, coupled with recent strengthening market prices for zinc, lead and silver, make this an exciting opportunity to both build a mine and add to the social and economic capacity of Poland."
As former President and CEO of Farallon Mining, Mr. Whittington took the company from the discovery stage through to commercial production in less than four years. After guiding the Company through its impressive transition from a junior exploration company to a successful Mid-tier zinc producer, he facilitated the successful sale of the company to Nyrstar for $409 million in January of 2011.
Over the course of his career, Mr. Whittington has developed strong working relationships with business leaders and government in the countries in which he operates. In Mexico, this led to the founding and his Chairing of the Canadian Mining Task Force, an organization he set up to represent Canadian mining and exploration companies' interests in Mexico. The aggregate market capitalization of these companies represented by the Task Force represented was in excess of $50 billion.
He was recognized for his accomplishments, when the Governor General of Canada, Ms. Michaelle Jean, awarded Mr. Whittington with a Governor General Gold Medal as a result of his work to strengthen ties between Canada and Mexico and for his commitment to Corporate Social Responsibility in mining.
He was also selected as one of the three finalists for the Ernst & Young Entrepreneur of the Year Award for 2010, in the mining category for the Pacific region. This recognition was presented as a result of his entrepreneurial approach to bringing the G-9 Mine into production in a non-traditional manner, specifically, by the "Parallel Track Approach." The Parallel Track Approach allowed G-9 to come on line and into production on time and on budget in less than four years from its initial greenfield discovery.
Mr. Whittington was educated at the prestigious Royal School of Mines in the United Kingdom where he received his B.Sc in Mining Engineering. Mr. Whittington also formerly served on the boards of Kootenay Silver and Great Panther Silver, both Mexican based mining companies, as well as on the board of Northern Vertex, a Canadian based company.
Rathdowney wishes to thank Robert Konski for his ongoing hard work and service to the Company. As President and CEO of the Company's Polish subsidiary Rathdowney Polska sp. z o.o, he will continue to be focused on the operations in Poland.
About Rathdowney and Project Olza
Rathdowney Resources Ltd. is focused on advancing Project Olza through permitting and into production. Project Olza is located in the Upper Silesian Mining District of southwestern Poland, a world-class region in size and tonnage to the classic Mississippi Valley-type deposits, with well-developed mining infrastructure, including skilled workers. Easily accessible by paved roads, the Olza project site is a one-hour drive from Krakow, a major city with full services, including an international airport. The deposits at Olza are 25 km from the ZGHB zinc smelter at Boleslaw. A railway line runs through the Olza project-area, linking it to the ZGHB smelter and to ports on the Baltic Sea, with access to smelters in the rest of Europe.
Rathdowney is committed to responsible mineral exploration and development as presented through our local Project Olza community team, which provide updates on activities and potential opportunities to local communities, and governments at all levels.
The technical disclosure in this release has been reviewed and approved by Qualified Person David Copeland, PEng, who is Chairman and a director of the Company.
On behalf of the Board of Directors
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.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects, are forward looking statements. 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 the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Olza project will obtain all required environmental and other permits and all land use and other licenses, studies and development of the Olza project will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
SOURCE Rathdowney Resources Ltd.
Renseignements: For further details on Rathdowney and Project Olza, please visit our website at www.rathdowneyresources.com or contact David Copeland, Chairman of the Company at 604-684-6365 or toll free (NA) at 1-800-667-2114.