Continental Nickel Limited Announces New Board Appointments
12 Octobre 2011 - 9:36PM
Marketwired
The Board of Continental Nickel Limited (TSX VENTURE:CNI) ("CNI" or
the "Company") is pleased to provide the following update with
respect to Board composition.
Mr. Stuart Feiner and Mr. Bert MacNabb have been appointed as
non-executive directors, replacing Mr. Gordon Chambers and Mr. C.
Bruce Burton.
Mr. Feiner, who currently serves as a consultant to certain
organizations focusing on investments and other areas in the global
mining industry, spent thirty years with Inco Limited, a leading
international metals and mining company acquired by Vale in 2006,
as a key member of the senior management team. Mr. Feiner had
direct responsibility or management oversight for a number of major
acquisitions in the mining industry made by Inco and had a number
of corporate functions reporting to him, including environment,
health and safety and public and governmental affairs. He led a
range of conventional and unique financings and was responsible for
the evaluation or completion of a number of strategic initiatives
and divestitures. Mr. Feiner also had overall responsibility for
corporate governance and disclosure matters, and structuring and
implementing the arrangements needed to advance the key mining
projects Inco pursued. After having served in a number of positions
at Inco during his career, including Executive Vice President,
General Counsel and Secretary from August 1993 to March 2006, he
retired from Inco in the summer of 2006. Mr. Feiner has served on
the boards of a number of public and private companies.
Mr. MacNabb is a professional geologist who possesses forty
years of experience in the global mining industry. He spent twenty
five years with Inco Limited and later ValeInco (now Vale) in
management positions in Canada as well as several international
locations, including Australia, Indonesia, Papua New Guinea and
Switzerland. He has managed and directed exploration projects
around the world and has led multidisciplinary groups of
geoscientists in generating new projects and advising exploration
teams on ongoing projects. During the course of this work Mr.
MacNabb has dealt with various foreign governments, negotiated
joint venture agreements and worked with many diverse foreign
cultures.
Mr John Nitschke, Chairman, commented "I would like to welcome
both Stuart and Bert to our Board of Directors and look forward to
their involvement with Continental's strategic planning going
forward. Both Mr. Feiner and Mr. MacNabb bring specialized
experience to the board, including significant knowledge and
experience in the capital markets, corporate finance, mergers and
acquisitions and international nickel exploration. We look forward
to their contributions to the Company's growth strategy. At the
same time we wish to acknowledge and thank Mr. Gordon Chambers and
Mr. C. Bruce Burton for their contributions. Both Gordon and Bruce
contributed to the recent successes of the Company, including the
process of transitioning the Company from explorer to
developer."
About Continental Nickel Limited
Continental is focused on the exploration, discovery and
development of nickel sulphide deposits in geologically
prospective, but under-explored regions globally. The Company's key
asset is its 75% interest in the Nachingwea project in Tanzania,
where Mineral Resources (Measured and Indicated) have been
estimated at 60,900 tonnes of contained nickel, and an additional
131,000 tonnes of contained nickel in Inferred Mineral Resources.
(See CNI's press release of April 15, 2011.) The project is a 75:25
exploration joint venture between the Company and IMX.
The Company also has an option to joint venture on the St.
Stephen project in New Brunswick, Canada where the 2010 diamond
drill program discovered new Ni-Cu sulphide zones.
As at the date of this release, the Company has 42,713,508
common shares issued and outstanding (51,031,914 on a fully-diluted
basis) and trades on the TSX Venture Exchange under the symbol CNI.
The Company remains well funded with over $13.7 million in the
treasury as at June 30, 2011.
On behalf of Continental Nickel Limited
Dave Massola, President and Chief Executive Officer
CAUTIONARY STATEMENT: No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This News Release includes certain
"forward-looking statements". All statements other than statements
of historical fact included in this release including, without
limitation, statements regarding potential mineralization,
potential or estimated metal recoveries, resources and reserves,
exploration results, future plans and objectives of Continental
Nickel Limited, is forward-looking information that involves
various risks and uncertainties. There can be no assurance that
such information will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such information. Important factors that could cause actual results
to differ materially from Continental Nickel Limited's expectations
are the risks detailed herein and from time to time in the filings
made by Continental Nickel Limited with securities regulators.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Continental Nickel Limited Dave Massola President and
Chief Executive Officer (905) 815-0533 (905) 815-0532
(FAX)info@continentalnickel.comwww.continentalnickel.com
Continental Nickel Limited (TSXV:CNI)
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