Euromax Resources Ltd.: Board and Management Changes
08 November 2012 - 6:08PM
Marketwired
Euromax Resources Ltd. (TSX VENTURE:EOX) (OTCQX:EOXFF): ("Euromax"
or the "Company") announces that Mr. Patrick Forward has been
appointed as Chief Operating Officer ("COO") and a director of the
Company, with immediate effect. Mr. Forward brings a wealth of
experience, particularly in the Carpathian Arch, where all of the
Company's projects and exploration targets are located. Mr. Forward
will spearhead the development of Ilovitza as well as the expansion
of the resource base across all the Company's properties.
Mr. Forward has acted as a technical consultant to the Company
since March and has a strong track record in the development of
gold assets in Europe and Africa. Mr. Forward was previously V.P.
Projects & Exploration at European Goldfields where he was
responsible for the development of the Skouries and Olympias
projects in Greece and the Certej project in Romania through
feasibility work, basic engineering and financing. In addition, Mr.
Forward was responsible for European Goldfields' exploration
properties in Romania, Greece and Turkey and the growth and
compliance of that company's resource and reserve base. In the
early 1990's he managed exploration projects in Europe, Ghana and
Venezuela before spending some five years in Burkina Faso managing
exploration programmes including the discovery of Semafo Inc's 2.8
Moz Mana deposit. Mr. Forward is also specialised in geological due
diligence, resource estimation, the application of GIS systems to
exploration projects, deposit evaluation and is a Qualified Person
with the respect to NI 43-101 reporting.
Mr. Forward joins the board further to the resignations of Mr.
Mark Gustafson as both COO and a director of the Company and Dr.
Quinton Hennigh as a director and officer of the Company.
Commenting on the announcement, Steve Sharpe, President &
Chief Executive Officer of the Company said, "We are delighted to
welcome Pat Forward to the board and importantly as the new COO.
Pat brings with him a wealth of both exploration and development
experience, which will be invaluable to the Company going forward.
I would like to thank Mark Gustafson and Quinton Hennigh for their
enormous contributions to Euromax, as well as for facilitating such
a smooth and amicable handover."
The Company also reports that 150,000 options have been granted
to two employees of the Company with a term of five years at an
exercise price of C$ 0.80 per share with vesting 25% on grant, 25%
after one year, 25% after two years and the remaining 25% after
three years.
About Euromax Resources Ltd.
Euromax is a Canadian exploration and development company with
three gold and base metal assets in Macedonia, Bulgaria and Serbia.
We are focused on identifying, acquiring and developing mineral
resources in South Eastern Europe with the objective of becoming a
world-class mining company in the region. Our strength is our local
staff, knowledge and technical expertise in Bulgaria, Serbia and
Macedonia.
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.
Contacts: Euromax Resources Ltd. Steve Sharpe President &
CEO +44 (0)20 3667 2970ssharpe@euromaxresources.co.uk Euromax
Resources Ltd. Karen Atchison Investor Relations Manager +44 (0)20
3667 2970katchison@euromaxresources.co.uk
www.euromaxresources.com