OAKVILLE, Ontario, Sept. 2, 2014 /PRNewswire/ -- Sarissa
Resources Inc. ("Sarissa" [OTCPK: SRSR], or the "Company") is
pleased to announce the appointment of Daniel M. Byrnes to the Company's Board of
Directors. Mr. Byrnes has also been appointed to the position
of President and interim Chief Financial Officer of the
Company. Scott Keevil, will
remain as Chairman and Chief Executive Officer.
Mr. Byrnes will be responsible for managing the Company's
development plan for the Company's wholly owned Nio-Star
subsidiary's Nemegosenda niobium project in Ontario and for securing the necessary capital
to complete this plan. Mr. Byrnes has extensive experience
managing business operations, complex projects and raising
capital.
"Dan brings a wealth of leadership skills and extensive
experience raising capital to the company," said Scott Keevil, Chairman and Chief Executive
Officer. "The skill set Dan brings to the Company is exactly
what is needed at this stage to realize the tremendous potential
that exists with the Company's wholly owned Nio-Star subsidiary's
Nemegosenda niobium project. I am confident that Dan will
serve as a catalyst for the future growth and success of
Sarissa. We look to his leadership and experience to propel
the Company to the next level," said Mr. Keevil.
"The continued growth of demand in the niobium market combined
with the exceptional potential of the wholly owned Nio-Star
subsidiary's Nemegosenda niobium property makes this project an
exciting and timely opportunity. What makes this project so
uniquely compelling is the large amount of historical geological
and metallurgic work that was successfully completed by Dominion
Gulf and others over the years. That historical work has been
continuously supported by the Company's ongoing geological work,
most recently the results from the first of our five hole drilling
program begun earlier this year. The focus of the current
drilling program is to verify results obtained from the Dominion
Gulf 1950's so that the Company can incorporate the Dominion Gulf
data into an up to date NI 43-101 compliant estimate of the
Nb2O5 mineralization of the Nemegosenda
Niobium Project. This extensive catalog of work provides a
very detailed understanding of the potential of the project," said
Mr. Byrnes.
"The Company will immediately begin work on its two main short
term objectives. First, address the capital structure and listing
venue of the Company to make it more attractive to investors and
second to continue working on the extensive, historical geological
and metallurgic data available to the Company to upgrade the
resource definition. Several long-term investors have
committed the capital necessary to immediately begin the work to
spin out and upgrade the listing of the Company's Nio-Star
subsidiary as well as begin the drilling of the second hole of our
previously announced drilling program," continued Mr.
Byrnes.
"A new hallmark of the Company will be frequent and meaningful
communication with shareholders. In the very near future the
Company will provide shareholders with a detailed plan for the
development of the Nemegosenda niobium project. The Company
will also host an investor conference call in early September to
allow all of our investors the opportunity to have their questions
answered," added Mr. Byrnes.
About Sarissa Resources Inc.
Sarissa Resources Inc. is
a junior exploration company with interests in properties in
Northern Ontario, Canada. Sarissa
and Nio-Star are specifically focused on the development of the
Nemegosenda niobium project as well as the Shining Tree Resources
Corp. gold projects. Visit www.sarissaresources.com for
additional information.
Safe Harbor
This press release contains statements,
which may constitute "forward-looking statements" within the
meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation Reform
Act of 1995. Those statements include statements regarding the
intent, belief or current expectations of Sarissa Resources Inc.
and Nio-Star Corp., as well as members of their respective
management, in addition to the assumptions on which such statements
are based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of financial results and
positions, the ability to compete successfully and the ability to
complete above-referenced exploration and testing, as well as
business transactions. Neither Sarissa nor Nio-Star undertakes any
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results.
SOURCE Sarissa Resources Inc.