Continental Announces the Commencement of David Massola as President and CEO and the Grant of Stock Options Upon Commencement
29 June 2011 - 7:48AM
Marketwired
Continental Nickel Limited (TSX VENTURE: CNI) ("CNI") is pleased to
announce the commencement of David Massola as President and Chief
Executive Officer of the Company on June 27, 2011 and the grant to
him, pursuant to the Company's Stock Option Plan and subject to any
regulatory approvals, of 750,000 incentive stock options at an
exercise price of $1.30 per share with a term of five years.
Mr. Massola has over 30 years of experience in the mining
industry in both large international and junior mining companies.
He has held a broad range of executive and management positions in
Canada, Chile and the United States.
For the past 4 years, Mr. Massola served as Senior Vice
President and CFO of GlobeStar Mining Corporation in which he was
part of the team responsible for that company's evaluation,
permitting and development of the Cerro de Maimon copper sulphide
deposit in the Dominican Republic, where production commenced in
October 2008.
Prior to GlobeStar Mr. Massola spent 5 years as the Chief
Financial Officer for De Beers Canada Inc. and 20 years with
BHP-Billiton in a broad range of increasingly responsible roles.
Mr. Massola held key positions in the teams that developed and
subsequently operated the Escondida Mine in Chile and the Ekati
Diamond Mine in the Northwest Territories. He has been involved
with numerous projects from exploration through feasibility,
permitting, financing, joint venture negotiations, marketing,
development and production stages.
Mr. John Nitschke Chairman and Acting CEO commented "We are very
pleased to confirm that David has joined our team and look forward
to his contributions and leadership skills which will complement
the strong management teams already in place. David has
considerable experience in taking projects from exploration through
to production gained while working for major mining houses and
honed with his more recent involvement at GlobeStar. His experience
complements the accomplished nickel exploration team with a
discovery track record, as well as the technical studies team that
together will enable us to define the extent of the resource at
Sleeping Giant, continue exploration of the Nachingwea land package
and progress with the evaluation of the economic viability of the
already delineated Resources in Tanzania."
About Continental Nickel Limited
Continental 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 Mineral Resources (Measured and Indicated) have been
estimated at 60,900 tonnes of contained nickel, and an additional
131,000 tonnes of contained nickel in Inferred Mineral Resources.
See Continental press release of April 15, 2011. The project is a
75:25 exploration joint venture between the Company and IMX.
The Company also has an option to joint venture on the St.
Stephen project in New Brunswick, Canada where the 2010 diamond
drill program discovered new Ni-Cu sulphide zones.
As at the date of this release, the Company has 42,702,508
common shares issued and outstanding (51,031,914 on a fully-diluted
basis) and trades on the TSX Venture Exchange under the symbol CNI.
The Company remains well funded with over C$8.7 million in the
treasury as at March 31, 2011.
On behalf of Continental Nickel Limited
John Nitschke, Chairman
CAUTIONARY STATEMENT: No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. 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, is forward-looking information that involves
various risks and uncertainties. There can be no assurance that
such information will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such information. 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.
Contacts: Continental Nickel Limited John Nitschke Chairman
(905) 334-4309 (905) 815-0532 (FAX) info@continentalnickel.com
www.continentalnickel.com
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