Apr. 19, 2011 (Canada NewsWire Group) --
VANCOUVER, April 19 /CNW/ - The Board of Directors of Sunward Resources Ltd. (the "Company" or "Sunward") (TSX-V: SWD) is pleased to announce that Mr. Colin John Andrew has accepted the position of Chief Executive Officer effective May 15, 2011. Mr. Andrew has over 35 years of experience in exploration and development around the world, most recently heading a private company with substantial precious metals exploration interests in Colombia. Sunward has granted Mr. Andrew an option to purchase a total of 800,000 shares. The options are exercisable at $1.39 for a period of five years and will vest over a three year period.
The Board also announces the appointment of Mr. Jay Sujir as non-executive Chairman of the Board of Directors replacing Mr. Michel Juilland who will remain a member of the Board. Mr. Sujir is a corporate, securities and natural resources lawyer with extensive experience in advising and assisting public companies in Canada. He has been a Partner of Anfield Sujir Kennedy & Durno LLP since 1991 and is a member of the Law Society of British Columbia, the Canadian Bar Association, and of the British Columbia Advisory Committee of the TSX Venture Exchange. He has been a Director of Sunward since its inception.
"Colin is perfectly suited to lead Sunward into the next phase of its growth," said Mr. Sujir. "The shareholders of Sunward stand to benefit from his impressive track record of significant discoveries of major precious metals deposits around the world and his in-depth knowledge of Colombia, its traditions, and culture." Mr. Andrew will be replacing Mr. Philip O'Neill who will be stepping down from his role of Chief Executive Officer but will remain a Director of the Company.
"Phil is one of the founders of Sunward and an integral force behind its growth in shareholder value over the last 12 months," said Mr. Sujir. "We are looking forward to his continued involvement with the Company which is exceptionally well positioned to capitalize on its highly prospective property position in Colombia and its strong balance sheet."
About The Company:
Sunward Resources is a well-capitalized Canadian-based company focused on the exploration of gold/copper porphyry projects in Colombia. The Company has strong operational expertise in Colombia and is currently drilling its Titiribi Project southwest of Medellin.
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Sunward Resources Ltd. and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sunward Resources Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Sunward Resources Ltd. disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither 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.
|SUNWARD RESOURCES LTD.|
|Investor Relations:||Corporate Contact:|
|Scott Koyich||Dave Forest|
|(403) 619-2200||(604) 568-7617|