CARSON CITY, Nev., Nov. 10, 2009 (GLOBE NEWSWIRE) -- Denarii Resources Inc. (OTCBB:DNRR) (Berlin:8D3) (Frankfurt:8D3), a mining company focused on acquiring gold, silver and other resource properties in North and South America, is pleased to announce today the hiring of Mr. Stanley Ford, P.Eng. Mr. Ford has extensive experience in the development and financing of multi-million dollar coal projects on a global basis. Mr. Ford's primary responsibility is to oversee the development and bring into production the "Lota Bay Coal Concession Recovery Project."
Since 1984, Mr. Ford has been Chairman and President of International Royalties Corp. From 1990 through to 2003, Mr. Ford was Chairman and President of Pallaum Minerals, a resource exploration focused company. As Consulting Engineer for Denarii Resources, Mr. Ford's responsibilities will include the immediate planning and completion of both an ocean floor reading geophysical program and a systematic drilling program to delineate the total area of Lota Bay to enhance recoverable coal values.
"With prices of coal upwards of $78 per tonne, Denarii Resources is quickly moving forward to establish the potential for coal recovery at the Lota Bay concession. Mr. Ford has the expertise to successfully plan, design and implement a cost-effective program to commence drilling at Lota Bay in the very near future," said Stuart Carnie, president of Denarii Resources.
About Lota Bay Coal Concession
Lota, Chile was a major coal-mining center in southern Chile, situated on the Golfo (gulf) de Arauco. Over the 145 year life span of the Lota coal mine operation, millions of tons of coal was dumped or spilled into the harbor. Most of the spilled coal resulted from primitive shipping and conveying practices. Denarii's operational plan is a dredge and recover program with recoverable resources being processed in an adjacent industrial site. The Company's earlier delineation program estimates recoverable reserves at 275,000 proven tones and probable adding 90,000 tonnes reserves, which contribute to a viable economic operation. The coal will be marketed to nearby coal burning thermal electric generating plants which currently have to import to meet the Country's growing electrical demands.
About Denarii Resources, Inc.
Denarii Resources Inc. currently owns interest in the McNab Molybdenum property and has entered into an production agreement to acquire two coal concessions in Chile. Denarii is continually moving forward with researching and acquiring multiple assets that will generate positive cash flow for the company. A number of precious metal properties are presently under review. These are near or in production Gold and Silver acquisitions located in North and South America and Latin America.The company was founded in 2006 and is based in Carson City, Nevada. The Company maintains a website at www.dnrrinfo.com.
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Denarii Resources, Inc., please refer to its web site at www.dnrrinfo.com .