TORONTO, ONTARIO--(Marketwired - June 11, 2014) - Quia Resources Inc. ("Quia" or the "Company") (TSX VENTURE:QIA) is pleased to announce the appointment of Mr. Anthony Roodenberg to the Company's board of directors and to provide an update.
New Director
Mr. Anthony Roodenburg has been appointed to the Board of Directors. Mr. Roodenburg will replace Mr. Iain Kelso, who stepped down from the board. Mr. Kelso will remain the Qualified Person for technical disclosure until a suitable replacement is found, and is a Qualified Person within the terms defined by National Instrument 43-101. The Company wishes to sincerely thank Mr. Kelso for his service to the Company and wishes him well in his future endeavors.
Mr. Roodenburg is the founder, largest individual shareholder and CEO of Greencastle Resources Ltd., (TSX VENTURE:VGN) a diversified investment company focused on the natural resource sector. His experience includes four years as an Investment Executive with National Bank Financial (1987-1991). Subsequently, Mr. Roodenburg has been an active investor and founder, officer and director of several public companies, assisting in the areas of corporate development and finance primarily in mineral exploration and the oil and gas sectors.
Mr. Banks commented: "I'm pleased to have Mr. Roodenburg join our board as he brings significant experience in the natural resource industry and capital markets. He will be able to provide a significant contribution to Quia as we continue to develop our agrominerals business."
Projects Update
The Company has been making progress in strategic discussions regarding its San Lucas project. While there is no certainty that a strategic transaction will be completed, the Company believes discussions are at an advanced stage.
With respect to Murdock Mountain, the Bureau of Land Management (the "BLM") provided the Company's joint venture company with notice that they are conducting a study of sage grouse in the project area as part of a broader study for the state of Nevada and northeastern California. The study is expected to be completed in September, and until that time, the BLM will not be in a position to consider our Prospect Permit application and other related environmental studies. The Company did not expect to receive the Prospecting Permit prior to September in any event, and is not precluded from completing the other environmental studies should it choose to do so, subject to the availability of financing and the Company's other priorities and opportunities.
Targeting Program
The Company has engaged the services of a leading expert in certain agrominerals on a consulting basis as well as Caracle Creek International Consulting to develop and undertake a targeting program (the "Targeting Program") aimed at identifying prospects for selected agrominerals in North America which could have growing and potentially significant market potential, and innovative application and positioning within the agrominerals marketplace. In particular, the Company is seeking projects amenable to direct application, low-capex, near-term development, and in some cases with second phase potential for processing to higher value products and that are in line with the ongoing evolution of soil and plant nutrition science.
Mr. Banks commented: "We have identified specific supply gaps and demand drivers in North American fertilizer markets that we believe present compelling business opportunities through the development of suitable minerals to address these needs. We are currently focusing on crystallizing our research efforts and the relationships we have built with key experts and potential strategic partners to expand our asset-base and significantly enhance the growth profile of the Company. We look forward to providing further updates and details as this effort progresses."
About Quia Resources Inc.
Quia Resources is a mineral exploration and development company which owns 100% of the San Lucas gold project in Colombia and has an option to earn 65% of the Murdock Mountain direct application phosphate project in Nevada. The Company is also actively evaluating additional business opportunities, primarily in the agromineral sector.
Forward-Looking Statements
This press release contains or refers to forward-looking information based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
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.