(Source: MARKETWIRE)
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
SOURCE: Grayd Resource Corporation
A service of YellowBrix, Inc.
