VANCOUVER, Oct. 20, 2015 /CNW/ - (TSXV: SMY) Search Minerals Inc. ("Search" or the "Company") is pleased to announce that it has appointed Greg Andrews as CEO of the Company, effective immediately. He will also continue to hold his current position as President.
Mr. Andrews graduated from the University of Calgary, Bachelor of Commerce, Finance. He has over 20 years of providing strategic planning, financial and administrative consulting to public and private companies. Mr. Andrews has also held various directorships in TSX Venture Exchange listed companies since 1993, including companies involved in mining, oil and gas, technology and biotechnology.
Jim Clucas, Executive Chairman, commented, "In September 2014, Greg was appointed Executive Vice President, and further promoted to President in February 2015. He has demonstrated his abilities as President and the Company expects an easy transition to the role of CEO. On behalf of the Board, I am pleased to add the CEO title to Greg as he continues to lead Search Minerals Inc. on its path forward."
Greg Andrews, commented, "I am pleased to accept this position and look forward to advancing the Company and helping to continue to build shareholder value. Over the past year, Search has worked very hard in securing financings, selling non-core assets and settling with creditors, all in the effort to build a solid company and advance the Critical Rare Earth Project in Labrador. I am very fortunate to be able to work with a very experienced and hard-working Board of Directors and strong technical team led by Dr. Randy Miller, VP of Exploration and his exploration team and Dr. David Dreisinger, VP Metallurgy. I also look forward to continue to build and strengthen Search's relationship with current shareholders, the investment community, government agencies, and the NunatuKavut Community Council."
Search is a TSX Venture Exchange listed company focused on creating value through finding and developing "critical rare earth element ("CREE")" mineral assets in Labrador. CREEs (Nd, Eu, Tb, Dy, Y) have growing demand, constrained or restricted supply and are commonly used in innovative technologies.
Search is the discoverer of the Port Hope Simpson CREE District, a highly prospective CREE belt located in southeast Labrador, where the Company controls a belt 70 km long and up to 8 km wide. Search owns 100% of the advanced CREE resource called the Foxtrot Project ("Foxtrot"), and a recently announced Foxtrot-like prospect called "Deepwater Fox". In addition, the Company has identified more than 20 other Foxtrot-like prospects in the District. The primary focus of Search is to continue to advance the Foxtrot resource, while evaluating other Foxtrot-like prospects. Several of the Foxtrot-like prospects require exploration drilling programs and may provide additional resources to a central processing facility that would be situated within the District.
In addition, Search holds a number of other CREE mineral prospects in Labrador in its portfolio, including claims in the Red Wine Complex, in the Henley Harbour area.
Search is led by a management team and board of directors with proven track records in the mining industry. The Company also has experienced geological and metallurgical teams led by Dr. Randy Miller and Dr. David Dreisinger, respectively.
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.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. These forward looking statements relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and those additional risks set out in Search's public documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply 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. Except where required by law, Search disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Search Minerals Inc.
For further information: Greg Andrews, President, T: 604-998-3432, F: 604-608-5717, E: [email protected]