UC Resources Announces New CEO
04 Agosto 2011 - 5:00PM
Marketwired
UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE: UC) is
pleased to announce that Mr. Gary Monaghan has been appointed as
Chief Executive Officer ("CEO"), effective immediately.
Mr. Monaghan, age 51, has been active in the mining industry
since 2005, as a director of UC Resources Ltd. Mr. Monaghan has
over 25 years of senior management experience in the communications
industry working for companies such as Shaw Communications, Rogers
Communications, and MDU Communications. He was the President and
founder of MDU Communications Inc. (OTCBB: MDTV) from September
1998 to May 2001. Mr. Monaghan is a Director of Encap Investments
Inc., a capital pool company (TSX VENTURE: ENC.P), and Wind River
Energy Corp. (TSX VENTURE: WVR), a natural gas company.
For the past decade, Mr. Monaghan has been operating his own
consulting company and has provided services to various companies
from initiating company start-ups and financings to union, legal or
contract negotiations and determining successful administration,
marketing and operations within companies.
UC is pleased to announce that Mr. Jim Voisin will remain as
President and Chief Operating Officer. The Company has initiated
this management transition to enable and maximize certain skill
sets within its executive team and to provide the best possible
result for the company and its shareholders. The Company management
is focused to capitalize on the opportunities from its efforts at
the McFaulds Lake area ("Ring of Fire") and its milling operations
at La Yesca.
The Company continues to ramp up the throughput rate in a
progressive manner to optimize the milling operations at La Yesca
and focus on recovery rates which still have significant room for
improvement. The Company remains determined to move these milling
operations to a consistent state where it will be able to announce
successful commercial production.
UC Resources is an active explorer of base metals and chromite
in the McFaulds Lake area ("Ring of Fire") of the James Bay
Lowlands, Ontario, as well as an explorer and producer of precious
metals in Mexico.
On behalf of the Board of Directors,
Gregory Roberts, Director
We seek safe harbour.
Investors are invited to visit the UC Resources IR Hub at
http://www.agoracom.com/ir/UCResources where they can post
questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to UC@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating to the potential mineralization and geological
merits of the McFaulds/La Yesca properties and other future plans,
objectives or expectations of the Company are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's plans or
expectations include risks relating to the actual results of
current exploration activities, fluctuating gold prices,
possibility of equipment breakdowns and delays, exploration cost
overruns, availability of capital and financing, general economic,
market or business conditions, regulatory changes, timeliness of
government or regulatory approvals and other risks detailed herein
and from time to time in the filings made by the Company with
securities regulators. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.
Contacts: UC Resources Ltd. Mr. Gary Monaghan CEO 250-864-2113
monaghan@ucresources.net www.ucresources.net
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