Azimuth Resources Limited - Resignation of COO

Nov 29, 2012, 04:28 ET from Azimuth Resources


PERTH, Australia, Nov. 29, 2012 /CNW/ - Azimuth Resources Limited (ASX and TSX: AZH) (the "Company" or "Azimuth") advises it has received a notice of resignation from Chief Operating Officer, Paul Criddle.

Paul intends to spend the coming weeks ensuring there is a smooth transition of information to other employees and contractors, with his last day being January 15, 2013.

The Company's activities in Guyana will continue to be managed by Exploration Manager, Aaron McLeod and Commercial Manager, Ian Christie.

It is understood Paul intends to commence a new role in 2013, and the Company wishes him all the best for his future endeavours.

Executive Director Richard Monti commented:

"During Paul's tenure we were delighted to release our maiden resource, and gain a much greater understanding of the technical aspects of the West Omai project.

We remain actively engaged in identifying and engaging a top quality CEO and management team which we anticipate having in place before the end of Q1, 2013.

Our success this year at West Omai has ensured that Azimuth has been able to attract a number of quality candidates for the CEO role."

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information, including statements concerning the Company's intent to engage additional personnel and other matters.  Any statements that express or involve predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "likely",  "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are forward-looking statements.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking statements, including, without limitation: inherent uncertainties and risks associated with mineral exploration; uncertainties related to the availability of future financing; uncertainties related to the outcome of studies; uncertainties relating to fluctuations in gold or uranium prices; the risk that Azimuth's title to its properties could be challenged; uncertainties related to general economic and financial conditions; and uncertainties related to fluctuations in Azimuth's share price.  This list is not exhaustive of the factors that may affect any of Azimuth's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of Azimuth or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form under the heading "Description of the Business - Risk Factors" and elsewhere.

Azimuth's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date hereof and which Azimuth believes are reasonable in the circumstances, but no assurance can be given that these expectations will prove to be correct. These assumptions include, but are not limited to, that there will be no material adverse change affecting the Company or its properties and such other assumptions as set out herein. Azimuth disclaims any intention or obligation to update or revise forward-looking statements if circumstances or management's beliefs, expectations or opinions should change, except as required by law.  For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

SOURCE Azimuth Resources