TORONTO, May 13, 2014 /CNW/ - Galway Metals Inc. (TSX-V: GWM) (the "Company") is pleased to announce that Larry Strauss and Michael Sutton have been officially engaged to act as technical advisors to the Company's board of directors. Messrs. Strauss and Sutton have extensive expertise in the gold industry and will continue to assist in identifying and assessing precious metal opportunities, primarily in the Americas. Messrs. Strauss and Sutton have been assisting the Company on an informal basis since the start of 2014.
Robert Hinchcliffe, president and CEO of Galway Metals, commented, "We are extremely pleased to have Larry and Mike join us in an official capacity. Larry and Mike were instrumental in identifying and developing 2 interesting gold projects for Galway Resources, one of which was sold for $340 million. Given the status of the junior markets, we are looking to position ourselves with projects that will generate robust shareholder returns when the capital markets improve."
Larry Strauss has 18 years of experience as a mining and commodities analyst in both Canada and the United States. He was most recently a Director at GMP Securities, where he spent seven years as a well-regarded mining analyst. During his time with GMP Securities, the firm landed advisory roles on high-profile mergers and acquisitions and raised several billion dollars for many leading international mining companies, including Goldcorp Inc., Kinross Gold Corporation, Wheaton River Minerals, Ltd., Bema Gold Corporation, Ivanhoe Mines Ltd., and Northgate Minerals Corp., among others. During his career Mr. Strauss has been awarded "Best on the Street" in the Mining and Metals category by the Wall Street Journal. Earlier in his career, Mr. Strauss worked with Canaccord Capital, Prudential Securities and Merrill Lynch. Mr. Strauss holds an M.A., Energy and Mineral Resources (cum laude) from the University of Texas at Austin, and a B.S., Geology (honors) from City University of New York at Brooklyn College.
Michael Sutton has worked in some of the largest gold camps in the world, including Witwatersrand, Timmins, and Kirkland Lake, serving in various capacities related entirely to the exploration and mining of gold. Mr. Sutton was awarded the Prospector of the Year for Ontario for the discovery of the South Mine Complex while he was Chief Geologist and Assistant Manager at Kirkland Lake Gold Inc. Most recently, he guided Vault Minerals Inc. as its Vice President of Exploration until it was taken over by Queenston Mining Inc. Mr. Sutton is a member of the Association of Professional Geoscientists of Ontario and has been a member of the Prospectors and Developers Association of Canada since 1982. Mr. Sutton graduated in 1984 from the University of Toronto with a B.Sc., Geology (honors).
Both Mr. Strauss and Mr. Sutton are also members of the board of directors of Galway Gold Inc. (TSX-V: GLW) ("Galway Gold"), a company with certain directors and management in common with the Company. Galway Gold is one of the two well-capitalized companies (the other being the Company) spun out in late 2012 from Galway Resources Ltd. ("Galway Resources"), a company founded in 2005 by Robert Hinchcliffe. Mr. Hinchcliffe went on to raise over $100 million while leading Galway Resources, and eventually negotiated its sale for $340 million, in addition to the spin-outs of Galway Gold and the Company.
CAUTIONARY STATEMENT: 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 of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, potential acquisitions of mineral properties. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unavailability of acquisition prospects on attractive terms or at all, fluctuations in commodity prices, and volatility in the financial markets. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE: Galway Metals Inc
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