TORONTO, June 25, 2018 (GLOBE NEWSWIRE) -- Rupert Resources Ltd (“Rupert” or the “Company”) announces the retirement of Brian Hinchcliffe as Executive Chairman and the appointment of Gunnar Nilsson as Non Executive Chairman. Brian Hinchcliffe has stepped aside to focus on other business interests but will continue to act as an advisor to the Company.
Brian Hinchcliffe, outgoing Executive Chairman of the Company said, “Northern Finland has emerged in the last five years as the host of a number of important gold and base metal deposits. Rupert’s Pahtavarra Project is well positioned, with its 290km2 contiguous land position and permitted 1400 tpd mill, to benefit from the new focus and investment in the region. Gunnar Nilsson with his decades of senior business experience in Europe, will bring the skill set required to complement existing management and commercially advance all the Company’s Finnish projects.”
Gunnar Nilsson, Non Executive Chairman of Rupert Resources said, “I am delighted to join the Board of Rupert Resources and look forward to working with James Withall and his team. On behalf of the Board I would like to acknowledge the contribution made by Brian Hinchcliffe to Rupert Resources over a number of years, in particular his role in the acquisition and initial development of the Pahtavaara Project and we are grateful that he will continue to lend his expertise to the Company in an advisory capacity.”
Notes to the Editors
Gunnar Nilsson was previously a Director of Northern Aspect Resources Limited, which was acquired by Rupert Resources in May 2018. Prior to this Mr Nilsson held senior roles at Johnson & Johnson and Svenska Cellulosa/Mölnlycke before retiring to act as a private investor. Mr Nilsson has over 30 years experience of developing and operating businesses in Europe and through joint venture companies outside Europe.
About Rupert
Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (“Pahtavaara”). Pahtavaara has an Inferred mineral resource at a 1.5 g/t Au cut off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (see Company’s release from April 16, 2018). The Company also holds a 100% interest in two properties in Central Finland - Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.
For further information, please contact:
| James Withall Chief Executive Officer jwithall@rupertresources.com | Thomas Credland Head of Corporate Development & Investor Relations tcredland@rupertresources.com |
Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004
Web: http://rupertresources.com/
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.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute ”forward-looking statements”, including the completion of the proposed Transaction, deadlines, regulatory approvals, business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2018 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.