The Board of Directors of Cash Minerals Ltd. (TSX VENTURE:CHX) today announced the appointment of Gregory Duras to the position of President and Chief Executive Officer of Cash Minerals Ltd., effective immediately. Mr. Duras succeeds Basil Botha who has left this role to pursue other opportunities. Mr. Botha will remain with Cash Minerals as a Director and consultant.
In June 2007, Mr. Duras joined Cash Minerals as Chief Financial Officer. Prior to joining Cash Minerals, Mr. Duras held the position of Vice President of Finance and Administration, for an advanced-stage mineral exploration and mining development company, where he was responsible for financial reporting, project financing, auditing and budgeting activities. Mr. Duras is a Certified General Accountant and a Certified Professional Accountant, and holds a Bachelor of Administration from Lakehead University.
“Gregory Duras is a highly experienced executive within the resource sector and the Board is delighted to appoint Greg to the position of President and CEO,” commented Stan Bharti, Chairman of Cash Minerals Ltd. “With significant knowledge of the resource sector, corporate finance and capital markets experience, Greg is ideally suited to this role. Moving forward, the Board will be evaluating all Cash Minerals assets, including the Company’s Division Mountain coal property, to identify a strategy that will deliver maximum value to our shareholders. Greg will play an integral part in this process.”
Ms. Wen Ye will assume the role of Chief Financial Officer with Cash Minerals. Ms. Ye joined Cash Minerals in January 2008 as Controller where she was responsible for preparing the Company’s financial statements. Prior to joining Cash Minerals, Ms. Ye served as Controller for a mineral exploration and mining development company, with responsibility for financial reporting, auditing and budgeting activities. Ms. Ye holds a Bachelor of Arts in Commerce.
In addition, Peter Arendt, Vice President, Engineering and Marketing, has also left his role at the Company to pursue other opportunities. “The Board would like to thank Basil and Peter for their contributions and we wish them both the best in their future endeavours,” stated Mr. Bharti.
About Cash Minerals
Cash Minerals is a Canadian-based resource company focused on uranium exploration, coal and alternative fuels (synfuels). Under an agreement with joint venture partner Mega Uranium Ltd., Cash Minerals can maintain a 75% working interest in the highly prospective Igor property, located in the Wernecke Uranium District, Yukon, by completing a bankable feasibility study on the Igor property by December 31, 2012. Wernecke Uranium properties include numerous iron-oxide copper-gold-uranium (IOCG-U) and structurally-controlled hydrothermal uranium targets. The Company also holds a measured resource of 52.5 million tonnes of high Volatile “B” Bituminous coal (refer to NI 43-101 report dated December 21, 2005). This resource is located on the Division Mountain property, which occupies less than five percent of Cash Minerals’ total coal leases in the Yukon.
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to Cash Minerals Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 29, 2008.
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