Montréal, Canada – August 11th, 2009 – KWG Resources Inc. (TSX-V: KWG) (“KWG” or the “Company”) is pleased to announce the appointment of Maurice J. Lavigne, P.Geo., as Vice-President of Exploration and Development of the Company and its operating subsidiary Canada Chrome Corporation. The well-known and widely-published former Ontario Resident Geologist at Red Lake and Thunder Bay had key roles in expanding North American Palladium’s reserves at their Lac des Iles mine and in the subsequent feasibility study, financing and plant construction. More recently, he was Vice President of Galantas Gold Corporation, where as Mine Manager, was involved in financing and construction of a gold mine in Northern Ireland.
“With the commitment of Cliffs Natural Resources to pursue the prospect of producing and marketing ferro-chrome to its steel-making customers, the discoveries of the Big Daddy and adjacent chromite deposits in the Ring of Fire represent a development opportunity unlike anything seen in Canada since the opening of the Labrador iron mines sixty years ago,” said KWG President Frank Smeenk. “We feel very fortunate to have been able to recruit Moe to this opportunity, as both his recent and past experience suit him perfectly for the job at hand”.
The Company has also appointed Robert S. Middleton, P. Eng., as Director, Aboriginal & Regulatory Affairs for Canada Chrome Corporation. “Bob is another icon in our industry and there is perhaps no one better fitted to manage the issues affecting the lands, communities and agencies that this potential development will affect,” said Smeenk.
The Company also announced the appointment of R. Russell Martel as Director, Research and Planning for Canada Chrome Corporation. “Russell’s years of finance and mining industry experience match ideally the task of compiling the research required to inform the unique challenges we anticipate in the documentation and funding of a project of this magnitude, with initial cost estimates of the order of $1.5 Billion,” explained Smeenk.
Forward Looking Information:
This press release contains certain “forward-looking statements”. All statements, other than statements of historical fact, that address activities, events or developments that KWG believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating tothe commitment of Cliffs Natural Resources to pursue the prospect of producing and marketing ferro-chrome to its steel-making customers, or the development and financing of the Big Daddy and other chromite deposits) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of KWG based on information currently available to KWG. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of KWG to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on KWG.
Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to the failure of Cliffs Natural Resources to pursue the prospect of producing and marketing ferro-chrome to its steel-making customers, or failure to complete the development and financing of the Big Daddy and other chromite deposits.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, KWG disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although KWG believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guaranteed of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
About KWG Resources Inc.
KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chromium have been made recently in the Ring of Fire. KWG has an equal joint venture interest in a large claim block in the central part of the discovery area, with Spider Resources Inc. The joint venture is developing the Big Daddy chromite deposit adjacent to the Black Thor and Black Label chromite discoveries of Freewest Resources. KWG holds a 1% net smelter royalty in all three deposits and has created Canada Chrome Corporation to pursue the development of them.
For further information, please contact:
| Bruce Hodgman, Communications Director Direct: 416-646-1374 [email protected] |
Michel Côté Director 514-866-6001 |
Or visit our website: www.kwgresources.com
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Download In English PR39_en Aug 12 2009
Download En Francais PR39_fr Aug 12 2009
