VANCOUVER, Nov. 22, 2013 /CNW/ - Rathdowney Resources Ltd. ("Rathdowney" or the "Company") (TSXV: RTH), an exploration and development company focused on advancing the Olza
zinc-lead-silver project in Poland through permitting and into
production, announces that Mr. John Barry will step down as President
and Chief Executive Officer, and as a director of the Company, on
November 30, 2013. Mr. Barry will continue to serve as an advisor to
the Company until the end of February 2014. Mr. David Copeland,
Chairman of the Board, will assume the role of interim President and
CEO.
"My six years as CEO have brought me enormous satisfaction and pride,
right from the Company's inception in Ireland in 2007. Since that time,
we have progressed from sourcing the Olza project in the historic Upper
Silesia district of Poland in 2010 and completing an IPO of Rathdowney
in Canada in 2011 to today where we are at the permitting stage of this
major zinc-lead-silver project," said Mr. Barry. "I am very proud to
have worked with such a very talented and hardworking team with the
full support of the Hunter Dickinson organization, our contractors and
consultants. Together, we have brought this project from a concept,
through exploration and the establishment of a substantial zinc-lead
resource to what is one of the very few exciting zinc development
projects at the cusp of the permitting stage. Now is the right time for
me to step aside and for Rathdowney to bring in an executive with
development experience to drive the permitting and development phase."
Chairman David Copeland commented "John is a visionary and has been an
exceptional leader of the Company. He saw a rare opportunity to acquire
a highly prospective project located in a world famous zinc-lead
district at a time when metal prices had collapsed in 2008 and then
successfully advanced the project to the permitting stage in what is,
effectively, a brownfield setting. This is how to generate future value
for our employees, shareholders and, in particular, the people living
in the communities in the Project Olza area and in Poland as a whole.
On behalf of Rathdowney and its Board of Directors, I would like to
thank John for his leadership, contributions and commitment to the
Company. We wish him every success."
About Rathdowney
Rathdowney Resources Ltd.'s principal business objective is finding and
developing the next generation of zinc-lead-silver deposits. Rathdowney
is associated with Hunter Dickinson Inc. ("HDI") a diversified, global
mine development company with a 25-year history of mineral development
success. From its head office in Vancouver, Canada, HDI applies its
unique strengths and capabilities to acquire, develop, operate and
monetize mineral properties that provide consistently superior returns
to shareholders.
David Copeland
Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration drilling,
exploitation activities and events or developments that the Company
expects, are forward looking statements. Although the Company believes
the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, potential environmental issues or
liabilities associated with exploration, development and mining
activities, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and natural
resource exploration and exploitation, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, investors should
review the Company's continuous disclosure filings that are available
at www.sedar.com.
SOURCE Rathdowney Resources Ltd.
