Bearing to Seek New Opportunities
14 Mai 2014 - 5:20PM
Marketwired Canada
Bearing Resources Ltd. ("Bearing", or the "Company") (TSX VENTURE:BRZ) announces
that at the request of certain of its major shareholders, it intends to seek new
opportunities that may include potential acquisitions from outside the mining
and exploration sector. To facilitate the identification and evaluate these new
opportunities, these shareholders have requested a new slate of directors to be
nominated at the Company's Annual General and Special Meeting, which has now
been deferred to June 11 2014. The nominees are: Kirk Shaw, Amar Balaggan, and
Eduard Ephstein.
Robert Cameron, CEO and Damian Towns, CFO will remain with the Company in their
respective management roles to manage and operate the Company's ongoing
reporting and exploration requirements, seek joint venture partners for its
exploration assets and to monitor progress on its flagship Pedro Gold Project in
Mexico.
As a result of these changes, the current Directors of the Company will not be
standing for re-election including Geoff Chater and Brian Bayley, who have
resigned with immediate effect.
Mr. Cameron commented, "The Company remains in good financial condition with
approximately $0.8 million in cash and an exciting exploration portfolio, with
one project that has recently been drilled by Newmont (results pending). The
changes being made will enhance the Company's ability to pursue opportunities
both inside and outside the mining sector and enable the new Board to quickly
and efficiently identify and analyse these opportunities. The Company wishes to
thank the outgoing directors for their dedication and their stewardship of the
Company's assets which has provided the Company with the opportunity to seek
additional opportunities while still having a treasury to do so."
About Bearing Resources
Bearing is a Canadian based precious and base metal exploration company with
projects located in British Columbia, the Yukon and Mexico. In Mexico the
Company's partner Newmont is advancing the Pedro epithermal gold project while
in British Columbia the Company has discovered a gold-bearing skarn system on
its October Dome property near the currently producing QR Gold Mine. The
Company's Mount Polley projects is located in near Imperial Metals Corporation's
("Imperial") Mt. Polley copper-gold mine and includes a production royalty on
the Boundary property. The Company also holds interests in projects in the Yukon
including the Flume Project in the White Gold District.
BEARING RESOURCES LTD.
Robert Cameron, President & CEO
This news release includes certain "forward-looking statements" under applicable
Canadian securities legislation. Such forward-looking statements or information,
including but not limited to, those with respect to future exploration programs
and venture arrangements involve known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance or achievements of
Bearing to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or
information. Such factors include, among others, the actual prices of
commodities, the factual results of current exploration, development and mining
activities, changes in project parameters as plans continue to be evaluated, as
well as those factors disclosed in documents filed from time to time with the
securities regulators in the applicable Provinces of British Columbia and
Alberta. Neither 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bearing Resources Ltd.
Robert Cameron
(604) 682-5546
rcameron@bearingresources.ca
www.bearingresources.ca
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