|By PR Newswire||
|September 2, 2014 10:34 AM EDT||
OAKVILLE, Ontario, Sept. 2, 2014 /PRNewswire/ -- Sarissa Resources Inc. ("Sarissa" [OTCPK: SRSR], or the "Company") is pleased to announce the appointment of Daniel M. Byrnes to the Company's Board of Directors. Mr. Byrnes has also been appointed to the position of President and interim Chief Financial Officer of the Company. Scott Keevil, will remain as Chairman and Chief Executive Officer.
Mr. Byrnes will be responsible for managing the Company's development plan for the Company's wholly owned Nio-Star subsidiary's Nemegosenda niobium project in Ontario and for securing the necessary capital to complete this plan. Mr. Byrnes has extensive experience managing business operations, complex projects and raising capital.
"Dan brings a wealth of leadership skills and extensive experience raising capital to the company," said Scott Keevil, Chairman and Chief Executive Officer. "The skill set Dan brings to the Company is exactly what is needed at this stage to realize the tremendous potential that exists with the Company's wholly owned Nio-Star subsidiary's Nemegosenda niobium project. I am confident that Dan will serve as a catalyst for the future growth and success of Sarissa. We look to his leadership and experience to propel the Company to the next level," said Mr. Keevil.
"The continued growth of demand in the niobium market combined with the exceptional potential of the wholly owned Nio-Star subsidiary's Nemegosenda niobium property makes this project an exciting and timely opportunity. What makes this project so uniquely compelling is the large amount of historical geological and metallurgic work that was successfully completed by Dominion Gulf and others over the years. That historical work has been continuously supported by the Company's ongoing geological work, most recently the results from the first of our five hole drilling program begun earlier this year. The focus of the current drilling program is to verify results obtained from the Dominion Gulf 1950's so that the Company can incorporate the Dominion Gulf data into an up to date NI 43-101 compliant estimate of the Nb2O5 mineralization of the Nemegosenda Niobium Project. This extensive catalog of work provides a very detailed understanding of the potential of the project," said Mr. Byrnes.
"The Company will immediately begin work on its two main short term objectives. First, address the capital structure and listing venue of the Company to make it more attractive to investors and second to continue working on the extensive, historical geological and metallurgic data available to the Company to upgrade the resource definition. Several long-term investors have committed the capital necessary to immediately begin the work to spin out and upgrade the listing of the Company's Nio-Star subsidiary as well as begin the drilling of the second hole of our previously announced drilling program," continued Mr. Byrnes.
"A new hallmark of the Company will be frequent and meaningful communication with shareholders. In the very near future the Company will provide shareholders with a detailed plan for the development of the Nemegosenda niobium project. The Company will also host an investor conference call in early September to allow all of our investors the opportunity to have their questions answered," added Mr. Byrnes.
About Sarissa Resources Inc.
Sarissa Resources Inc. is a junior exploration company with interests in properties in Northern Ontario, Canada. Sarissa and Nio-Star are specifically focused on the development of the Nemegosenda niobium project as well as the Shining Tree Resources Corp. gold projects. Visit www.sarissaresources.com for additional information.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources Inc. and Nio-Star Corp., as well as members of their respective management, in addition to the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of financial results and positions, the ability to compete successfully and the ability to complete above-referenced exploration and testing, as well as business transactions. Neither Sarissa nor Nio-Star undertakes any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE Sarissa Resources Inc.
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