VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 8, 2014) - Medallion Resources Ltd. (TSX VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD) ("Medallion" or the "Company") today announced that it has appointed David Shaw, PhD, a highly accomplished independent geological consultant, to the Company's Board of Directors.
With over 30 years of experience and a doctorate in structural geology, Mr. Shaw is sought-after for his analysis of structural controls of mineralization and expertise in both technical and financial due diligence of mineral project investments. Most recently, David was Chairman of Salares Lithium Inc., a Canadian-listed explorer that subsequently merged with Australian producer Talison Lithium. David remained as an independent director through Talison's acquisition by Chengdu Tianqi Group for $848 Million in February 2013.
"David has been an active member of Medallion's Advisory Board for several years. Now, as we move closer to key decisions on the proposed Oman-based, rare-earth-production facility, the addition of David's technical expertise and financial judgment helps us to advance the project," commented Dr. Bill Bird, Medallion's Chairman and CEO.
Currently, David Shaw is an independent director of First Majestic Silver Corp., Great Quest Metals Ltd., and President of Albion Petroleum Ltd. Shaw's appointment to Medallion's Board of Directors brings the total number of directors to six. Pursuant to its stock option plan and subject to TSX Venture Exchange approval, Medallion has granted 235,000 incentive options, with an exercise price of $.15, to David Shaw.
About Medallion Resources
Led by Dr. Bill Bird and supported by an experienced technical team, the Company focuses on low-cost, near-term, rare-earth production opportunities using the rare-earth mineral monazite, which is available as a by-product from existing mining and mineral-sands sources principally in the Indian Ocean basin. Medallion is currently evaluating a proposal to import monazite feedstock and produce rare-earth products at a proposed processing facility in the industrial city of Duqm, Oman. Rare earths are used in critical components for virtually all computing and mobile electronic products, as well as wind turbines, electric and hybrid vehicles, and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mining, mineral processing and the safe management of waste materials. More about Medallion (TSX VENTURE: MDL)(OTCQX:MLLOF)(FRANKFURT:MRD) can be found at www.medallionresources.com.
Medallion management takes full responsibility for content and has prepared this news release. 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. Some of the statements contained in this release are forward-looking statements, such as statements relating to completion of the private placement, completion of transactions under the Company's MOUs, completion of monazite feed agreements, and estimates and statements that describe Medallion's future exploration, production and financing plans, objectives or goals, including words to the effect that Medallion or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks inherent in completing complex business arrangements in international jurisdictions and other risks outlined in the Company's management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include risks of completing planned financing, and risks that expectations may be raised by discussing potential business, acquisitions or development plans. Also, in order to proceed with Medallion's plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion's plans.
FOR FURTHER INFORMATION PLEASE CONTACT:
Medallion Resources Ltd.Donald Lay
email@example.comHamza Thindal Capital Corp.Kam Thindal
Source: Medallion Resources Ltd.