Olivut Resources Ltd. Announces Changes to the Board of Directors and Grant of Stock Options
23 Gennaio 2008 - 7:53PM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: OLV) is pleased to announce the
addition of Dr. Leon R. Daniels to the Board of Directors of the
Corporation, subject to TSX-V approval.
Dr. Daniels has extensive diamond exploration and production
experience spanning more than 30 years from 1976 to the present.
Early in his career, he discovered the diamondiferous Klipfontein
kimberlite pipe in South Africa. He worked for Falconbridge
Exploration Botswana evaluating the 180 hectare (445 acres) crater
facies M1 Kimberlite and conducted exploration which led to the
discovery of at least three kimberlite fields in the Kalahari
Dessert where he monitored exploration and bulk sampling drilling
programs. While working as part of the management team with the
Trans Hex Group in Swaziland, he oversaw the evaluation and
development of the Dokolwayo Diamond Mines. Dr. Daniels has
experience working in the active war zones of Angola where he was
the Chief Geologist for Roan Selection Trust International,
overseeing production of five alluvial mines including among other
responsibilities, grade control and predictions, production and
mining reconciliations, planning and supervision, river diversions
and monitoring diamond population distribution.
Dr. Daniels also has worked on the Koidu kimberlites located in
Sierra Leone, the Fort a la Corne kimberlites in Canada, the
evaluation and development of the River Ranch kimberlite and the
discovery and bulk sampling of a 5 hectare kimberlite diatreme and
kimberlite dykes all in Zimbabwe. Furthermore, he has been involved
in diamond exploration and bulk sampling of kimberlites in Russia,
evaluation of alluvial diamond deposits in South Africa, and
exploration and development of properties in the Congo, Finland,
the Kingdom of Lesotho, Australia, Zambia, Guinea, Mali and Sao
Tome. In addition, his experience includes marketing, valuating,
processing, negotiating and liaising with surface rights owners and
Black Economic Empowerment partners in South Africa.
He is Managing Director of Pangolin Gold (Pty) Limited, a
company dedicated to the recycling of historical gold tailings
dumps in Botswana; Director of Kimberlamp Exploration Zambia
Limited exploring for diamonds in Zambia and President of
Precambrico SA, exploring for gold in Uruguay. He is a member of
the Australian Institute of Geoscientists and the Prospectors and
Developers Association of Canada.
Dr. Daniels obtained his PhD from the University of Cape Town,
South Africa in 1991. He has authored and co-authored numerous
research papers relating to diamonds and associated minerals and
the exploration and development of kimberlites in various
areas.
Olivut will benefit greatly from Dr. Daniels' extensive
experience and looks forward to working with him.
Separately, Olivut regretfully accepts the resignation for
personal reasons of Mr. Stephen Barley who has been a valuable
member of the Board as Olivut became established during its first
year as a public company. The Board wishes to thank Mr. Barley for
his contributions and direction over that period of time.
The Company also announces that, pursuant to the Company's stock
option plan, the continuation of which was approved by ordinary
resolution of the shareholders at the Company's annual general
meeting of shareholders on January 18, 2008, it has granted to Dr.
Daniels options to purchase up to 125,000 common shares in the
capital of the Company. The options are exercisable for a period of
five years ending on January 18, 2013 and are exercisable at a
price of $0.85 per common share, being the closing price of the
Company's common shares on the TSX-V on the date immediately
preceding the grant. The options vest as to one-third (1/3) one
year after the date of grant, one-third (1/3) two years after the
date of grant and the remaining one-third (1/3) three years after
the date of grant. The grant of options is subject to regulatory
approval, including approval of the TSX Venture Exchange.
Olivut is a diamond exploration company with a 100% mineral
interest in over 2,000,000 acres in the HOAM Project in Canada's
Northwest Territories. Please visit www.olivut.com for detailed
corporate and project information.
Leni Keough, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Olivut Resources Ltd. Leni Keough President and Chief
Executive Officer (780) 866-2226 (780) 669-5766 (FAX) Website:
www.olivut.com
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