Tethyan Resources PLC Appointment of CEO (4421V)

TIDMTETH

RNS Number : 4421V

Tethyan Resources PLC

02 November 2017

2 November 2017

Tethyan Resources plc

Appointment of CEO

Tethyan Resources plc ('Tethyan' or 'the Company') is pleased to announce that Fabian Baker has been appointed President and Chief Executive Officer of the Company. Peter Mullens has stepped down as Chief Executive Officer ("CEO") and the Board has confirmed his new position as Executive Director and Senior Vice President Exploration and Development.

Mr. Baker is a geologist with significant experience in the Western Tethyan Mineral Belt, including leading grassroots exploration through to completion of Bankable Feasibility. Previous roles include Chief Geologist at Lydian International's newly discovered Amulsar gold deposit in Armenia and Exploration Manager for Royal Road Minerals whilst the company was focused in Turkey. Mr Baker founded the private company that secured exploration assets in Serbia which was subsequently acquired by Tethyan and led to the Company's entry into the Balkan region. He has been the Chief Operating Officer of Tethyan since May 2016, during which time he has successfully acquired and developed significant exploration assets, built a highly capable team and implemented the Company's business strategy in the region. Mr Baker has a Bachelor of Science in Applied Geology from the Camborne School of Mines.

Mr Mullens led the Company as its CEO for the last two years, during which time the Company has successfully established itself in Serbia and completed numerous corporate initiatives which have left the Company well positioned to continue its growth and development. In his new role as Senior Vice-President Exploration and Development, Mr Mullens will draw on his significant technical expertise to oversee the Company's exploration and development of its existing assets and evaluate new business opportunities.

John Proust, Chairman of Tethyan, commented: "The Board is very pleased to appoint Fabian Baker as President and CEO, he has been fundamental to the development of the Company and we see him as a rising star in the mineral exploration industry. He has an in-depth knowledge of the region's geology, and has developed Tethyan to be a leading player in Serbia and the greater Balkan region. We are confident that the Company has a bright future with Fabian at its helm."

Mr. Proust also stated: "Peter Mullens has guided the Company through many important changes during the past two years and the Board thanks him for his successful tenure as CEO. Throughout Peter's career he has excelled in the identification and advancement of high quality exploration properties, and we are pleased to have him focused, in his new role, on this aspect of the Company's future development."

For further information please contact:

 
 Tethyan Resources PLC             [phone] 
 Fabian Baker (CEO)                [e-mail] 
 
 Cairn Financial Advisers LLP      [phone] 
 James Caithie / Sandy Jamieson 
 

About Tethyan

Tethyan Resources Plc ("Tethyan Resources") is a gold and base metal mineral exploration company incorporated in England & Wales (company registration number 3781581). Tethyan Resources listed on AIM (TETH.L) in 2004 and commenced trading on the TSX Venture Exchange on September 6, 2017, under the symbol "TETH".

Tethyan Resources is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralisation and compelling drill targets.

Tethyan emphasises responsible engagement with local communities and stakeholders, and is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

More information can be found on our website: www.tethyan-resources.com. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Forward Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to holding the general meeting and mailing the meeting materials. Generally, forward-looking information can be identified by the use of forward-looking terminology and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, and financing and additional capital requirements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAELLFBDFFXFBD

(END) Dow Jones Newswires

November 02, 2017 11:41 ET (15:41 GMT)