Avrom E. Howard, President & CEO of Odyssey Resources Limited (TSX VENTURE: ODX) is pleased to announce that Dr. David Shaw, Ph.D., P.Geo. has been appointed to Odyssey's Board of Directors, effective immediately. In addition, the Board also accepts the resignation of Mr. John Buckle. Mr. Buckle, a former President of the Association of Professional Geoscientists of Ontario, and a practicing geological and geophysical consultant currently active across South America, has made a significant contribution over the past number of years, and Mr. Howard and the entire Board of Directors thanks him for his service.
Dr. Shaw graduated in 1973 from the University of Sheffield, U.K., with a B.Sc. (Sp.Hons.) in Geology; in 1980 he obtained a Ph.D. in Structural Geology from Carleton University in Ottawa. Since completing his academic studies he has been continuously employed in the natural resource sector working for major production companies, junior exploration companies, financial groups and high net worth private investors. His work has evolved into two main areas - first, detailed geological structural analysis and second, the financial and risk valuation of resource projects. Dr. Shaw is based in Vancouver, Canada, but the majority of both his technical and financial work is outside of North America. Dr. Shaw is President of Albion Petroleum Ltd., and serves as a Director of First Majestic Resource Corp. and Grand Cru Resource Corp.
In addition, Mr. Howard is pleased to announce that Mr. Don Nicholson, P.Eng. has joined the Company as Advisor to the Board of Directors. Mr. Nicholson will guide the implementation of Odyssey's corporate strategy, and provide counsel to develop the Company's corporate governance program. Mr. Nicholson is an independent Management Operations Consultant to listed technology and resource companies including: Colombia Gold AG; Pan Pacific Aggregates plc, Pan Asia Mining Corp., and Shiega Resources Corp. Prior to establishing his own consulting practice in 1996, Mr. Nicholson was President and CEO of Yarrows Limited, where he led the implementation of a program to restructure, rationalize, modernize and diversify the company's industrial operations. Leading up to his tenure at Yarrow, Mr. Nicholson held similar executive roles for engineering, construction and resource companies across Canada. Mr. Nicholson graduated from the University of British Columbia's Electrical Engineering program, and later obtained a DIC in Automatic Control Systems from Imperial College in London, England. Mr. Nicholson brings a strong background in corporate governance practices, and is a member of the Institute of Corporate Directors (Canada) and the Institute of Directors (UK). Mr. Nicholson is currently a Director of Pan Pacific Aggregates plc and Terra Nostra Resources Corp. He is a Registered Professional Engineer, and a member of the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers Association of Canada.
Finally, Odyssey announces that 900,000 stock options have been granted to Directors and Consultants to the Company. The stock options are subject to a four-month hold period. The options granted to consultants will be vested in stages over a twelve-month period, in accordance with the policies of the Toronto Venture Exchange, and will expire five years from the Date of Grant. The exercise price of the options is $0.125.
Odyssey Resources Limited is a Canadian-based junior mining company dedicated to making new discoveries in the ancient, mineral-rich lands of the Mediterranean. The Company is developing a copper-silver property hosting several known deposits in the heart of a large, unexplored copper-silver belt in Morocco, a country that hosts several world class mineral deposits. It is also advancing a gold property with known resources and exceptional untested exploration potential in Turkey.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Odyssey Resources Limited
Avrom E. Howard
President and CEO, and Designated Qualified Person
(416) 362-6830 (FAX)
Odyssey Resources Limited
Business Development Manager
(416) 362-6830 (FAX)
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