🕐23.06.10 - 23:17 Uhr
Osisko Assumes Management of Brett
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Re: News Release - Wednesday, June 23, 2010
Osisko Assumes Management of Brett
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News Release 10-17
View News Release in PDF Format: http://www.brettresources.com/i/pdf/2010-06-03_NR.pdf
Brett Resources Inc.
("Brett") (TSX Venture Exchange -- BBR) is pleased
to announce the appointment of Messrs.
Sean Roosen, Robert Wares, Bryan
A.
Coates, John Burzynski, Sergio Cattalani and Robert Mailhot as the
new management team for the Company.
Mr.
Roosen takes over as
President and CEO, Mr.
Wares as Chief Operating Officer, Mr.
Coates as
Chief Financial Officer, Mr.
Burzynski as Vice President Corporate
Development, Mr.
Cattalani as Vice President Exploration, and Mr.
Mailhot as Vice President Human Resources.
The new management team are executives of Osisko Mining Corporation
which acquired a 77.8% interest in Brett on May 19, 2010 pursuant to a
friendly takeover bid.
The Company would like to thank outgoing President Mr.
Patrick Soares
and his team for their outstanding contributions in guiding Brett
Resources up to the acquisition by Osisko, and for realizing true
shareholder value through his tireless efforts.
Osisko intends to effect a subsequent acquisition transaction within
the next 12 weeks in order to acquire all of the remaining Brett shares
that were not tendered on May 19, 2010.
Osisko intends to vote all of
the Brett common shares acquired under the offer in favour of any
subsequent acquisition transaction.
On completion of a subsequent
acquisition transaction, Osisko intends to de-list the Brett shares
from the TSX Venture Exchange.
About Osisko
Osisko Mining Corporation is currently developing the Canadian Malartic
gold deposit and evaluating adjacent areas for a large-scale open pit,
bulk-tonnage mining operation.
The Canadian Malartic deposit currently
represents one of the biggest gold reserves in Canada for a single
deposit, and is still growing through ongoing drilling on new
mineralized zones.
Current reserves for the Canadian Malartic property
(including the adjacent South Barnat deposit) are 8.97 million
ounces(28.4 Mt @ 0.92 g/t Au & 217.4 Mt @ 1.16 g/t Au), plus a global
measureyd and indicated resource of 2.23 million ounces (70.4 Mt @
0.99 g/t Au) and an inferred resource of 0.47 million ounces (20.0 Mt @
0.73 g/t Au).
About Brett Resources Inc.
Brett Resources Inc.
is a Canadian minerals exploration company whose
primary mandate is the discovery, acquisition, and development of
precious metals systems, with particular expertise in Canada and Latin
America.
Since 2006 Bretts primary focus has been the 100 percent
owned Hammond Reef Gold Deposit in Ontario where an inferred resource
of 6.70 million ounces of gold, 259.4 million tonnes at a grade of 0.8
grams per tonne utilizing a 0.3 gram per tonne gold cut-off has been
outlined.
Sean Roosen,
President & CEO
Forward Looking Statements
Certain statements contained in this press release may be deemed
"forward-looking statements".
All statements in this release, other
than statements of historical fact, that address events or developments
that the Corporation expects to occur, are forward looking statements.
Forward looking statements are statements that are not historical facts
and are generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates", "projects",
"potential", "scheduled" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur.
Although
the Corporation believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
including, without limitation that all technical, economical and
financial conditions will be met in order to put the Canadian Malartic
Project into commercial production or that Osisko will complete the
acquisition of all of the outstanding shares of Brett Resources Inc.,
such statements are not guarantees of future performance and actual
results may differ materially from those in forward looking statements.
Factors that could cause the actual results to differ materially from
those in forward-looking statements include gold prices, access to
skilled consultants, mining development and mill production personnel,
results of exploration and development activities, the Corporations
limited experience with production and development stage mining
operations, uninsured risks, regulatory changes, defects in title,
availability of personnel, materials and equipment, timeliness of
government approvals, actual performance of facilities, equipment and
processes relative to specifications and expectations, unanticipated
environmental impacts on operations market prices, continued
availability of capital and financing and general economic, market or
business conditions.
These factors are discussed in greater detail in
the Corporations most recent Annual Information Form filed on SEDAR,
which also provides additional general assumptions in connection with
these statements.
The Corporation cautions that the foregoing list of
important factors is not exhaustive.
Investors and others who base
themselves on the Corporations forward-looking statements should
carefully consider the above factors as well as the uncertainties they
represent and the risk they entail.
The Corporation believes that the
expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations will
prove to be correct and such forward-looking statements included in
this press release should not be unduly relied upon.
These statements
speak only as of the date of this press release.
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Copyright (c) 2010 BRETT RESOURCES INC.
(BBR) All rights reserved.
For more information visit our website at
http://www.brettresources.com/ or send mailto:
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