DNA-T | Dalradian Appoints Jim Rutherford as Chairman | JUL 07, 2016 | | Download this Press Release (PDF 674 KB) | TORONTO, ONTARIO--(Marketwired - July 7, 2016) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces that Jim Rutherford, a director of the Company, has been appointed as Non-Executive Chairman of the board of directors.Patrick F. N. Anderson, the outgoing Chairman, will remain as Chief Executive Officer ("CEO"), President, and a director of the Company. In addition, as Mr. Rutherford is an independent chairman, Thomas Obradovich has stepped down as Lead Director. The board felt that this was the appropriate time to split the role of Chairman and CEO, thereby bringing the governance structure of the Company into line with the UK Corporate Governance Code. Mr. Rutherford's more than 25 years of capital markets experience and knowledge of the mining industry will be beneficial to Dalradian as the Company continues to progress its Curraghinalt Gold Project in Northern Ireland toward development.
Mr. Rutherford commented:
"I would like to pay tribute to Tom and Patrick's excellent work in guiding the board as Lead Director and Chairman and we value their continued involvement as directors of the Company. As Chairman, I am very much looking forward to working alongside Dalradian's management both to advance the Curraghinalt project and to increase the Company's profile in the London investment community. It is an exciting time to take on this expanded role as we prepare to complete the feasibility study this autumn and submit the planning application for the mine later in the year. Curraghinalt is one of the highest grade undeveloped gold deposits in the world and will bring significant economic benefits to Northern Ireland."
Mr. Rutherford joined Dalradian's board of directors in June of 2015 and has served on the Audit Committee of the Board for the past year. He has more than 25 years of experience in investment banking and investment management, both as an institutional investor and analyst and, since November 2013, has served as a non-executive director of Anglo American plc, one of the largest UK-listed diversified mining companies. Between 1997 and 2013, he was a senior vice president of Capital International Investors (a division of Capital Group, one of the world's largest and longest established investment management companies), with responsibility for investments in the mining and metals industry. Prior to joining Capital Group, Mr. Rutherford was an investment analyst with HSBC James Capel's global mining team, based in New York. He also held analyst roles with Credit Lyonnais and CRU International. He received his Bachelor of Science in Economics and Computer Science from Queen's University, Belfast (UK) and gained his Master of Arts in Development Economics from theUniversity of Sussex (UK).
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is in the midst of a work program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Components of the program include a feasibility study, an environmental and social impact assessment and underground exploration (at least 950 metres of development with associated test stoping).
In May 2016, Dalradian announced an updated mineral resource estimate for Curraghinalt, including a 109% increase in gold ounces contained in the Measured and Indicated categories compared with the 2014 resource. The current resource consists of 2.1 million ounces of contained gold in the Measured and Indicated categories (5.61 million tonnes at 11.61 g/t) and 2.3 million ounces of contained gold in the Inferred category (7.13 million tonnes at 10.06 g/t gold). For further information, see the NI 43-101 technical report entitled, "Technical Report for the Northern Ireland Gold Project, Northern Ireland", dated June 17, 2016 and prepared by Dr. Jean-Francois Couture, PGeo (APGO#0197) and Dr. Oy Leuangthong, PEng (PEO#90563867), both of SRK Consulting (Canada) Inc. and Stacy Freudigmann, PEng (APEGBC #33972) of JDS Energy & Mining Inc.
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