WINNIPEG, MANITOBA--(Marketwire -08/08/12)- SGX Resources Inc. (SXR.V) (the "Company"), is pleased to announce the appointment of Dr. K. Sethu Raman as an independent director of the Company effective today.
"Dr. Raman provides an excellent addition to our board of directors. He is a distinguished leader and has been a driving force behind many successful mining exploration projects, both internationally and within the Timmins gold camp," said Dale Ginn, President and Chief Executive Officer of the Company.
Dr. Raman is a successful exploration geologist with over 45 years of international experience in all phases of exploration, mine development, acquisitions and operations including financial and legal areas. He has pioneered many new exploration concepts and strategies which have led to the discovery of 11 significant gold, silver, copper, zinc, phosphate and uranium deposits located near established mining camps, seven of which went on to become producing gold mines in Canada.
As president and CEO of Holmer Gold Mines Ltd, Dr. Raman was particularly instrumental in the resurgence of the West Timmins camp where he discovered the Timmins Gold Deposit for which he later negotiated a business combination with Lake Shore Gold Corp.
Dr. Raman previously spent 13 years with Campbell Chibougamau Mines/Campbell Resources and the Royex Gold Mining Group of companies (now Barrick Gold Corporation) in various management positions, including Vice President (1980 to 1986) where he played a key role in the discovery and development of six gold mines in Quebec, Ontario and NWT and several major acquisitions. He holds a Ph.D degree in Geology from Carleton University and a UNESCO Post-Graduate Diploma from the University of Vienna, Austria. He is the founder and chairman of Holmer Gold Mines Inc, a private company currently developing the Loma Hierro silver mine in Cuba.
The Company also announced today the issuance of 3,500,000 incentive stock options ("Options") to purchase its common shares, exercisable at $0.28 per common share, to various directors, officers, employees and consultants of the Company. The Options will expire on August 8, 2017. The Options have been issued pursuant to the Company's stock option plan.
The issuance of the Options is subject to the approval of the TSX Venture Exchange. If the issuance of the Options is approved by the TSX Venture Exchange, the Options will be subject to a minimum hold period of 4 months and one day in accordance with applicable securities laws and applicable policies of the TSX Venture Exchange.
Neither the 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 the contents of this News Release.
SGX Resources Inc.
204-794-5818 or toll free at 1-888-749-4621