|By Marketwired .||
|February 18, 2014 04:21 AM EST||
LUXEMBOURG, LUXEMBOURG -- (Marketwired) -- 02/18/14 -- Northland Resources S.A. (OSLO: NAUR)(FRANKFURT: NPK)(OMX: NAURo) - (together with its subsidiaries "Northland", "NRSA" or the "Company") announces changes to the Company's management team.
The following changes are effective immediately:
-- Manfred Lindvall, in addition to his current position as Vice President of Technology and Energy, is appointed Vice President of Exploration. -- Willy Sundling is appointed Vice President of Environment, Health and Safety. -- Jonas Lundstrom, in addition to his current position as Vice President of Corporate Communications, including Investor Relations, and his role as Senior Vice President, is appointed Vice President of Human Resources. -- Jari Vaisenen is appointed Vice President of Finnish Operations. During the past two years, Mr. Vaisenen has held the position as Project Manager for the Hannukainen Definitive Feasibility Study, as a consultant from Poyro. -- Eva Johansson, who has held the position as Vice President of Human Resources, has decided to leave the Company.
"Since she started working at Northland, Eva Johansson has contributed to shaping our systematic approach to HR. She has performed well and we wish her all the best in the role she is now entering and in her future career", said Peter Pernlof, acting CEO of Northland.
No other members of the management team are affected by the changes.
Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara project is complete and production ramp-up started in November 2012. The Company expects to produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company expects to exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara project over the next seven to ten years. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland.
This announcement may include "forward-looking" information within the meaning of applicable securities laws. This forward-looking information can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. This forward-looking information includes all matters that are expectations concerning, among other things, Northland's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking information involves risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking information is not a guarantee of future performance and that Northland's actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if Northland's results of operations, financial condition and liquidity, and the development of the industry in which Northland operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
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