VANCOUVER, April 14, 2014 /PRNewswire/ - Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) is pleased to announce that Mr. Dwayne Melrose has joined the Gold Reach Board of Directors.
Mr. Melrose is a Professional Geologist with over 30 years' experience in the mining industry, with extensive experience in exploration, advanced projects and development, and mine operations. Mr. Melrose is currently the President and CEO of True Gold Mining a company he has been involved with since 2011 and spearheaded the transition from exploration thru development and into construction. True Gold is actively developing the Karma Gold Mine in Burkina Faso.
Mr. Melrose spent over twenty years with Cameco Corporation/Centerra Gold Inc. in Canada, the USA and Kazakhstan where he ran the exploration team at the Kumtor Gold Mine in the Kyrgyz Republic and was responsible for the discovery of the high grade SB Zone. In 2007 Mr. Melrose joined the Minco Mining Group and was responsible for their exploration and development programs and oversaw the delineation and advancement of the 157 million ounce Fuwan silver deposit in China.
Mr. Conrad Swanson, Chairman of the Company stated, "Mr. Melrose brings a wealth of project development and mine finance experience to our Board of Directors. We welcome him to our Board as our Company starts to transition from exploration to advanced project and development."
Mr. Melrose has been granted 50,000 stock options exercisable at $0.80 per share for a term of five years from the date of grant pursuant to the Company's stock option plan.
About Gold Reach Resources
The Ootsa property is an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry systems all with NI 43-101 compliant resources. The Company has completed 134,878 metres of core drilling on the property to date, with 36,135 metres completed during 2013. In total the Ootsa property contains compliant pit constrained resources totaling 1.25 billion pounds copper equivalent in the measured and indicated categories (consisting of 712.8 million lbs. copper, 0.65 million ounces gold, 66 million lbs. molybdenum, and 11.4 million ounces silver) and 1.66 billion pounds copper equivalent in the inferred category (consisting of 887.2 million lbs. copper, 0.83 million ounces gold, 103.5 million lbs. molybdenum, and 16.1 million ounces silver), using a 0.2% copper equivalent cut off.
For more information on the Ootsa property and the contained resources please see our website at http://goldreachresources.com.
On Behalf of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Safe Harbour Statement: The Company relies upon litigation protection for "forward-looking statements." The Company undertakes no obligation to update these forward- looking statements in the event management's beliefs, estimates obligations or other factors should change.
SOURCE Gold Reach Resources Ltd.