UC Resources Announces New CEO
August 04 2011 - 3:00PM
Marketwired Canada
UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) is pleased to
announce that Mr. Gary Monaghan has been appointed as Chief Executive Officer
("CEO"), effective immediately.
Mr. Monaghan, age 51, has been active in the mining industry since 2005, as a
director of UC Resources Ltd. Mr. Monaghan has over 25 years of senior
management experience in the communications industry working for companies such
as Shaw Communications, Rogers Communications, and MDU Communications. He was
the President and founder of MDU Communications Inc. (OTCBB:MDTV) from September
1998 to May 2001. Mr. Monaghan is a Director of Encap Investments Inc., a
capital pool company (TSX VENTURE:ENC.P), and Wind River Energy Corp. (TSX
VENTURE:WVR), a natural gas company.
For the past decade, Mr. Monaghan has been operating his own consulting company
and has provided services to various companies from initiating company start-ups
and financings to union, legal or contract negotiations and determining
successful administration, marketing and operations within companies.
UC is pleased to announce that Mr. Jim Voisin will remain as President and Chief
Operating Officer. The Company has initiated this management transition to
enable and maximize certain skill sets within its executive team and to provide
the best possible result for the company and its shareholders. The Company
management is focused to capitalize on the opportunities from its efforts at the
McFaulds Lake area ("Ring of Fire") and its milling operations at La Yesca.
The Company continues to ramp up the throughput rate in a progressive manner to
optimize the milling operations at La Yesca and focus on recovery rates which
still have significant room for improvement. The Company remains determined to
move these milling operations to a consistent state where it will be able to
announce successful commercial production.
UC Resources is an active explorer of base metals and chromite in the McFaulds
Lake area ("Ring of Fire") of the James Bay Lowlands, Ontario, as well as an
explorer and producer of precious metals in Mexico.
On behalf of the Board of Directors,
Gregory Roberts, Director
We seek safe harbour.
Investors are invited to visit the UC Resources IR Hub at
http://www.agoracom.com/ir/UCResources where they can post questions and receive
answers or review questions and answers already posted by other investors.
Alternatively, investors are able to e-mail all questions and correspondence to
UC@agoracom.com where they can also request to be added to the investor e-mail
list to receive all future press releases and updates in real time.
This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the McFaulds/La Yesca properties and
other future plans, objectives or expectations of the Company are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks relating to
the actual results of current exploration activities, fluctuating gold prices,
possibility of equipment breakdowns and delays, exploration cost overruns,
availability of capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or regulatory approvals
and other risks detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.
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