VANCOUVER, Feb. 15, 2012 /PRNewswire/ - Reliance Resources Limited, (TSX: RI) (the company) an Indonesian gold explorer, with a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia, is pleased to announce the appointment of Andrew Wilson as a director of the company, a former BHP Billiton Indonesia President Director.
Mr. Wilson brings great Indonesian insight to the Reliance Resources board. He was President Director of BHP Billiton Indonesia based in Jakarta from 2000 to early 2008 and was also a Director of the Indonesian Mining Association.
Mr. Wilson has a Bachelor of Laws and Bachelor of Commerce (Marketing) from the University of NSW, a Masters of Laws from the University of Sydney, and has been a member of the Law Society of NSW since 1986. He commenced his legal career at Allens Arthur Robinson before becoming the Legal Manager and Company Secretary at BHP Engineering Group, where he undertook various commercial and risk management roles. Mr. Wilson is a former director of Herald Resources Ltd and former Chairman of Lifestart, a charity assisting children with disabilities and a current director of Robust Resources Ltd and GTL Energy Ltd. He is a Fellow of the Australasian Institute of Mining and Metallurgy, and a Graduate and Fellow of the Australian Institute of Company Directors.
Mr. Scott Emerson comments, "We are pleased to have Mr. Wilson join the board of the company. Mr. Wilson's experience world-wide and in particular his extensive knowledge of Indonesia will prove invaluable as the company continues to develop its portfolio of Indonesian mining projects."
In addition, the company has created an advisory board to continue to assist in its growth in Indonesia. Gil Leathley who is stepping down as a director of Reliance, to devote more time to his duties at Nova Gold (NG.TSX) has agreed to serve in the advisory board.
The Company also announces the granting of director and officer stock options for the purchase of up to 5,475,000 shares, at a price of $0.25 per share, exercisable for 4 years.
The company is active on three of its five Indonesian gold projects; currently preparing for Phase 2 drilling on the Tanoyan Gold Project and conducting surface exploration programs, in preparation for drilling, on the Kapa Kapa Gold Project and the Roko Gold Project. All of the projects have easy access via paved and/or gravel roads and the regional infrastructure is good
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
SOURCE Reliance Resources Ltd.