Grayd Appoints Richard Hall as Chairman
24 September 2009 - 11:15PM
Marketwired
Grayd Resource Corporation (TSX VENTURE: GYD) is pleased to
announce that Richard J. Hall has agreed to assume the position of
non-executive Chairman of the Board of Directors. The Company is
very pleased to have Mr. Hall as Chairman as it continues to move
the La India Gold project forward and evaluate the potential to
develop an open pit mine and heap leach extraction facility.
Mr. Hall, who has served on Grayd's board of directors for one
year, brings 35 years of mining exploration and development
experience to the Board. Mr. Hall served as President and Chief
Executive Officer of Metallica Resources Inc., a company listed for
trading on Amex and the TSX. He oversaw the financing, construction
and commissioning of the Cerro San Pedro mine in Mexico. The Cerro
San Pedro mine produced 85,000 and 1.1 million ounces of gold and
silver, respectively in 2008. It currently has a scheduled 10-year
mine life. Also while at Metallica, the La Fortuna deposit in Chile
(487 million tones at 0.56% Cu and 0.44 g/t Au) was discovered and
brought through to a final feasibility study. This work was done in
conjunction with Metallica's operating partner on the project,
Xstrata Copper. In August 2008, Metallica was part of a $1.6
billion merger with Peak Gold Ltd. and New Gold Inc. Previous to
Metallica, Mr. Hall held senior management positions with Dayton
Mining Corporation and Pegasus Gold Corporation. Mr. Hall holds a
Bachelor and a Masters Degree in Geology and an MBA from Eastern
Washington University.
Grayd has granted Mr. Hall options to purchase up to a total of
150,000 common shares at a price of $0.40 per share. The options
are exercisable for a five year period, and are subject to certain
vesting provisions.
Grayd Resource is a growth-oriented junior natural resource
company focused primarily on exploring and developing a large land
position in Mexico which is highly prospective for gold and silver
mineralization. The Company's Officers and Directors are
experienced in all aspects of mineral exploration, development and
production and have been involved with several successful mining
projects during the past 20 years.
The information in this news release may contain forward-looking
statements. When used in this release, words such as "estimate",
"expect", "anticipate" and "believe" as well as similar expression
are intended to identify forward-looking statements. Such
statements are used to describe management's future plans, objects,
and goals for the Company and therefore involve inherent risks and
uncertainties. The reader is cautioned that actual results,
performance or achievements may be materially different from those
implied or expressed in such statements, which speak only as of the
date the statements were made. The Company does not update
forward-looking statements continually as conditions change.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: Grayd Resource Corporation Marc A. Prefontaine
President and CEO 604-681-7446 604-684-9877 (FAX) www.grayd.com
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