VANCOUVER, April 19 /CNW/ - The Board of Directors of Sunward Resources
Ltd. (the "Company" or "Sunward") (TSX-V: SWD) is pleased to announce
that Mr. Colin John Andrew has accepted the position of Chief Executive
Officer effective May 15, 2011. Mr. Andrew has over 35 years of
experience in exploration and development around the world, most
recently heading a private company with substantial precious metals
exploration interests in Colombia. Sunward has granted Mr. Andrew an
option to purchase a total of 800,000 shares. The options are
exercisable at $1.39 for a period of five years and will vest over a
three year period.
The Board also announces the appointment of Mr. Jay Sujir as
non-executive Chairman of the Board of Directors replacing Mr. Michel
Juilland who will remain a member of the Board. Mr. Sujir is a
corporate, securities and natural resources lawyer with extensive
experience in advising and assisting public companies in Canada. He
has been a Partner of Anfield Sujir Kennedy & Durno LLP since 1991 and
is a member of the Law Society of British Columbia, the Canadian Bar
Association, and of the British Columbia Advisory Committee of the TSX
Venture Exchange. He has been a Director of Sunward since its
"Colin is perfectly suited to lead Sunward into the next phase of its
growth," said Mr. Sujir. "The shareholders of Sunward stand to benefit
from his impressive track record of significant discoveries of major
precious metals deposits around the world and his in-depth knowledge of
Colombia, its traditions, and culture." Mr. Andrew will be replacing
Mr. Philip O'Neill who will be stepping down from his role of Chief
Executive Officer but will remain a Director of the Company.
"Phil is one of the founders of Sunward and an integral force behind its
growth in shareholder value over the last 12 months," said Mr. Sujir.
"We are looking forward to his continued involvement with the Company
which is exceptionally well positioned to capitalize on its highly
prospective property position in Colombia and its strong balance
About The Company:
Sunward Resources is a well-capitalized Canadian-based company focused
on the exploration of gold/copper porphyry projects in Colombia. The
Company has strong operational expertise in Colombia and is currently
drilling its Titiribi Project southwest of Medellin.
This news release contains "forward-looking information", which may
include, but is not limited to, statements with respect to the future
financial or operating performance of Sunward Resources Ltd. and its
projects. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "believes" or variations (including negative
variations) of such words and phrases, or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Sunward Resources Ltd.
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Forward-looking statements contained herein are made as of the date of
this press release and Sunward Resources Ltd. disclaims, other than as
required by law, any obligation to update any forward-looking
statements whether as a result of new information, results, future
events, circumstances, or if management's estimates or opinions should
change, or otherwise. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, the reader is cautioned not to place undue
reliance on forward-looking statements.
Neither 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.
SOURCE Sunward Resources Ltd.
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