Continental Nickel Provides Updates on Management Changes
01 April 2011 - 7:35AM
Marketwired
Continental Nickel Limited (TSX VENTURE: CNI) ("Continental Nickel"
or the "Company") announced today that Mr. John S. Nitschke is
acting as Executive Chairman of the Company and will fulfill the
role of Chief Executive Officer upon the effective date of the
resignation of Craig S. MacDougall on March 31, 2011 (see the press
release of January 21, 2011). In addition, the Company is pleased
to confirm that Ms. Patricia Tirschmann, Vice President,
Exploration, and Mr. Gary Hill, Chief Financial Officer and Company
Secretary, are continuing as senior officers of the Company.
John Nitschke, Chairman of the Board of Directors commented "We
thank Mr. MacDougall for his contribution during his time with the
Company and in particular his commitment to ensure the completion
and timely release of the revised Mineral Resource estimate at
Nachingwea (Press Release - March 2, 2011) which has resulted in a
significant upgrade of Mineral Resources. Our top class exploration
and corporate support teams are in place and will be implementing
our 2011 field program which will focus on step out drilling of the
Sleeping Giant discovery which is open in all directions (Press
Release - January 24, 2011) and continue to explore our highly
prospective mineral licenses at Nachingwea in Tanzania. The process
of recruiting a new Chief Executive Officer is on-going and we are
confident that there will be an orderly transition in
leadership."
The team continues to work on the technical and logistical
planning for the 2011 exploration programs for which an update will
be provided once finalized.
About Continental Nickel
Continental Nickel Limited is focused on the exploration,
discovery and development of nickel sulphide deposits in
geologically prospective, but under-explored regions globally. The
Company's key asset is its 75% interest in the Nachingwea project
in Tanzania, where NI 43-101 compliant Mineral Resources (Measured
and Indicated) have defined 60,900 tonnes of contained nickel, and
an additional 131,000 tonnes of contained nickel in Inferred
Mineral Resources. The project is a 75:25 Joint Venture between the
Company and IMX Resources Limited ("IMX") of Australia.
The Company also has an option joint venture on the St. Stephen
project in New Brunswick, Canada where it has discovered new Ni-Cu
sulphide zones from the 2010 diamond drill program.
Continental Nickel Limited has 39,047,608 shares issued and
outstanding (47,011,514 on a fully-diluted basis) and trades on the
TSX Venture Exchange under the symbol CNI. The Company remains
well-funded with currently over C$8.8 million in the treasury.
CAUTIONARY STATEMENT: This News Release includes certain
"forward-looking statements". All statements other than statements
of historical fact included in this release including, without
limitation, statements regarding potential mineralization,
potential or estimated metal recoveries, resources and reserves,
exploration results, future plans and objectives of Continental
Nickel Limited, 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 Continental Nickel Limited's expectations
are the risks detailed herein and from time to time in the filings
made by Continental Nickel Limited with securities regulators.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
Contacts: Continental Nickel Limited John S. Nitschke Executive
Chairman 011 61 407-081-446 Continental Nickel Limited Bruce
Burton, C.A. Director +1 (905) 815-0533 +1 (905) 815-0532 (FAX)
info@continentalnickel.com www.continentalnickel.com
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