Brett Resources Announces Appointment of New Directors
June 03 2010 - 8:46AM
Marketwired
Brett Resources Inc. ("Brett") (TSX VENTURE: BBR) is pleased to
announce the appointment of Messrs. Sean Roosen, Robert Wares, John
Burzynski and Bryan A. Coates to the Board of Directors.
The new directors are executives of Osisko Mining Corporation
which acquired a 77.8% interest in Brett on May 19, 2010 pursuant
to a friendly takeover bid.
The new directors replace Ms. Pauline Pasetka, Messrs. Steven
Cook, Carl Hering and Maurice Tagami. Messrs. Ron Netolitzky and
Patrick Soares will be continuing on the Board and will provide for
continuity in the direction of the project.
Mr. Patrick Soares, President and Chief Executive Officer of
Brett, commenting on the Board changes noted: "We extend our
appreciation to the directors that have tendered their resignation
for the guidance and contribution in the development of our
Company, and we welcome the new representatives from Osisko Mining
Corporation on the Board of Directors as we pursue the development
of our Hammond Reef Gold Project. We believe the addition of the
new directors and the access to the management team of Osisko will
allow the development of the Hammond Reef project to proceed with
increased efficiency and on an expedited time line."
Osisko intends to effect a subsequent acquisition transaction
within the next 15 weeks in order to acquire all of the remaining
Brett shares that were not tendered on May 19, 2010. Osisko intends
to vote all of the Brett common shares acquired under the offer in
favour of any subsequent acquisition transaction. On completion of
a subsequent acquisition transaction, Osisko intends to de-list the
Brett shares from the TSX Venture Exchange.
About Osisko
Osisko Mining Corporation is currently developing the Canadian
Malartic gold deposit and evaluating adjacent areas for a
large-scale open pit, bulk-tonnage mining operation. The Canadian
Malartic deposit currently represents one of the biggest gold
reserves in Canada for a single deposit, and is still growing
through ongoing drilling on new mineralized zones. Current reserves
for the Canadian Malartic property (including the adjacent South
Barnat deposit) are 8.97 million ounces, plus a global measured and
indicated resource of 2.23 million ounces and an inferred resource
of 0.47 million ounces.
About Brett Resources Inc.
Brett Resources Inc. is a Canadian minerals exploration company
whose primary mandate is the discovery, acquisition, and
development of precious metals systems, with particular expertise
in Canada and Latin America. Since 2006 Brett's primary focus has
been the 100 percent owned Hammond Reef Gold Deposit in Ontario
where an inferred resource of 6.70 million ounces of gold, 259.4
million tonnes at a grade of 0.8 grams per tonne utilizing a 0.3
gram per tonne gold cut-off has been outlined.
Patrick Soares, President & CEO
Forward Looking Statements
Certain statements contained in this press release may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical fact, that address events or
developments that the Corporation expects to occur, are forward
looking statements. Forward looking statements are statements that
are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential",
"scheduled" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the
Corporation believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
including, without limitation that all technical, economical and
financial conditions will be met in order to put the Canadian
Malartic Project into commercial production or that Osisko will
complete the acquisition of all of the outstanding shares of Brett
Resources Inc., such statements are not guarantees of future
performance and actual results may differ materially from those in
forward looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include gold prices, access to skilled consultants,
mining development and mill production personnel, results of
exploration and development activities, the Corporation's limited
experience with production and development stage mining operations,
uninsured risks, regulatory changes, defects in title, availability
of personnel, materials and equipment, timeliness of government
approvals, actual performance of facilities, equipment and
processes relative to specifications and expectations,
unanticipated environmental impacts on operations market prices,
continued availability of capital and financing and general
economic, market or business conditions. These factors are
discussed in greater detail in the Corporation's most recent Annual
Information Form filed on SEDAR, which also provides additional
general assumptions in connection with these statements. The
Corporation cautions that the foregoing list of important factors
is not exhaustive. Investors and others who base themselves on the
Corporation's forward-looking statements should carefully consider
the above factors as well as the uncertainties they represent and
the risk they entail. The Corporation believes that the
expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements
included in this press release should not be unduly relied upon.
These statements speak only as of the date of this press
release.
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: Brett Resources Inc. Tony Perri Manager, Investor
Relations 604-488-0008 604-669-2543 (FAX) tperri@brettresources.com
www.brettresources.com Wani Capital Raju Wani 403-240-0555
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