Grayd Appoints Troy Fierro to the Board of Directors
05 May 2011 - 7:38AM
Marketwired
Grayd Resource Corporation (TSX VENTURE: GYD) ("Grayd") is pleased
to announce the appointment of Troy J. Fierro to the board of
directors.
Mr. Fierro is a successful mining engineer with over 25 years of
industry experience. He has previously held executive positions
with Fronteer Development Group Inc., Metallica Resources Inc., and
Coeur d'Alene Mines where he has overseen the development,
construction or management of mines in Nevada, Mexico, Argentina,
Chile, and Alaska.
At Fronteer, which was recently acquired by Newmont Mining Corp.
for $2.1 billion, Mr. Fierro acted as COO. He was also Vice
President Operations of Metallica where he played the lead role in
the construction of the Cerro San Pedro Mine in Mexico. In August
2008, Metallica was part of a $1.6 billion merger with Peak Gold
Ltd. and New Gold Inc.
"Last December we delivered a very positive Preliminary Economic
Assessment Study on the La India Resource and we are moving the
project to feasibility. In addition, exploration results at Tarachi
are extremely encouraging," reported Marc Prefontaine, President
and CEO. "We are very pleased Mr. Fierro has joined our team as it
greatly strengthens our operational expertise and clearly
demonstrates our intent and ability to advance our exciting Mulatos
Gold Belt projects toward production."
The Company has granted Mr. Fierro options to purchase up to a
total of 425,000 common shares in the capital of Grayd at price of
$1.60 per share for a five year period. The options are subject to
certain vesting provisions.
Grayd is an exploration company focused on its La India property
is located in the prolific Mulatos gold belt of Mexico's Sonora
State. In October 2010, the Company reported a Preliminary Economic
Assessment (PEA) that demonstrated a 51% internal rate of return, a
US$187 million net present value (pre-tax, 5% discount rate), a
nine-year mine life and nearly 850,000 ounces of gold produced.
Grayd has initiated feasibility level work on this resource. Three
drills are currently drilling to test the Tarachi discovery located
10 kilometers north of the resource area.
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 Grayd Resource Corporation Daniel G.
McIntyre Manager Corporate Communications 604-681-7446 604-608-5372
(FAX) www.grayd.com
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