Module Appoints New Chief Executive Officer


    BLAINE, WA, Feb. 24 /CNW/ - Module Resources Incorporated (TSX-NEX :
MLE.H) is pleased to announce today that it has appointed Mr. Bruce Downing,
B.Sc., M.Sc., P.Geo as Chief Executive Officer of the Company, succeeding Luc
Duquette who served as CEO on an interim basis.
    Mr. Downing has extensive experience as a senior geologist working for
corporations and as a consultant on surface and underground gold and base
metal projects in British Columbia and around the world. He has also been
involved in mining-related environmental and reclamation programs and has
initiated several research and development projects, some of which have led to
    In 1983, he co-founded a software Company, Geomicro Systems Services
Limited, where he was responsible for developing commercial programs for use
in the mining industry.
    In 1997, the Professional Engineers and Geoscientists of British Columbia
presented Mr. Downing with the Chris Westerman Award, which is the highest
geoscience recognition.
    In 1999, Mr. Downing founded MagPower Systems Inc. when he became the
company's President and Director of Technology.
    Mr. Downing is an active member of a number of professional associations
and has published many technical papers in his areas of expertise as well as
co-authored several patents. During the course of his career he has been a
member of the board of directors of several public and private companies.
    Graham Eacott, Module's Chairman, said: "We are pleased to welcome Bruce
as CEO of the Company. His wide-ranging geological and exploration experience
in B.C., supplemented by his work on environmental and reclamation projects,
will be a significant asset to the Company as we continue exploration and
development work on the Ladner Gold Project in southern B.C."

    On behalf of the board of directors,
    "J.Graham Eacott"

    The TSX-NEX Exchange has not reviewed and does not accept responsibility
    for the adequacy or the accuracy of this press release. We seek Safe

    Caution concerning forward-looking information

    This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable securities laws.
This information and statements address future activities, events, plans,
developments and projections. All statements, other than statements of
historical fact, constitute forward-looking statements or forward-looking
information. Such forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate," "plan,"
"expect," "believe," "estimate," "intend" and similar terminology, and reflect
assumptions, estimates, opinions and analysis made by management of Module in
light of its experience, current conditions, expectations of future
developments and other factors which it believes to be reasonable and
relevant. Forward-looking information and statements involve known and unknown
risks and uncertainties that may cause Module's actual results, performance
and achievements to differ materially from those expressed or implied by the
forward-looking information and statements and accordingly, undue reliance
should not be placed thereon. Risks and uncertainties that may cause actual
results to vary include but are not limited to the speculative nature of
mineral exploration and development, including the uncertainty of reserve and
resource estimates; operational and technical difficulties; the availability
of suitable financing alternatives; fluctuations in gold and other commodity
prices; changes to and compliance with applicable laws and regulations,
including environmental laws and obtaining requisite permits; political,
economic and other risks; fluctuations in foreign exchange rates; as well as
other risks and uncertainties which are more fully described in our annual and
quarterly Management's Discussion and Analysis and in other filings made by us
with Canadian securities regulatory authorities and available at Module disclaims any obligation to update or revise any
forward-looking information or statements except as may be required by law.

For further information:

For further information: Brent Jones, Investor Relations Manager,
E-mail:, Phone: (360) 332-4653, Fax: (360)

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