Ruby Creek Resources, Inc. (PINKSHEETS: RBYC) reports a number of
significant corporate changes.
BOARD, CEO and CFO RESIGNATIONS As reported on the Form 8-K's
filed with the SEC, the Company's Chief Financial Officer, Myron
Landin resigned November 23, 2012. Effective January 28, 2013 Ruby
Creek received and accepted the resignations of David Bukzin and
Darren Ofsink as directors of the Company. Also on January 28, Dan
Bartley resigned from his positions as President and CEO held since
February 1, 2012. Mr. Bukzin, Mr. Ofsink and Mr. Landin also
resigned from all positions they held in the Company's Tanzanian
subsidiaries. Mr. Bartley held no positions with the Tanzanian
subsidiaries.
CHANGE of CONTROL Mr. Robert Slavik, former President and Chief
Executive Officer, has retaken control of the Company and been
returned to the positions of President and Chief Executive Officer
with the immediate goal of bringing Ruby Creek's Gold Plateau
Project into production. As a condition of his return as President
and Chief Executive Officer of Ruby Creek, former director David
Bukzin has granted an option to Mr. Slavik to purchase 6,000,000 of
Mr. Bukzin's shares and Mr. Slavik was granted immediate proxy to
vote those shares. This proxy, together with the shares already
held by Mr. Slavik constitutes a change of control of Ruby Creek
Resources in favor of Mr. Slavik.
After leaving Ruby Creek management last February 2012, Mr.
Slavik was focused on establishing operations for his Tanzanian
GoldFields Company in the northwest of Tanzania along the Lake
Victoria gold belt. Discussions commenced with Ruby Creek in
September 2012 when Mr. Slavik was asked by the Company's Board to
assist with funding or strategies to keep Ruby Creek out of
receivership. General terms were agreed to in November and closing
occurred January 28, 2013. During this long process Mr. Slavik
provided the funding required for sustaining Ruby Creek's Tanzanian
operations including a month long complete audit, inventory and
assessment of the Company's Gold Plateau assets.
BOARD APPOINTMENT The Company also announces the appointment of
Mr. Jürg Bühler as a Director of Ruby Creek Resources. Mr. Bühler
has more than 20 years experience in all aspects of the financial
markets. He began his career in 1989 with Bankers Trust AG, Zürich
and over the years gained extensive experience working for a number
of high profile companies in Europe. In 2007, he founded Global
Vision Investments (Cayman Islands), a company responsible for
creating DynamiteF3 and Dynamite CTA Fund (now the AIP Liquid
Trading Fund). In 2008 he founded Global Vision Investments AG in
Zug, Switzerland. He resides in Switzerland.
ADVISORY BOARD CHANGES Ruby Creek welcomes new members to its
Advisory Board: Mr. Daniel John Major, Mr. Robert J. Moriarty and
Mr. Toby Hansen.
Mr. Major attended Cambourne School of Mines, United Kingdom,
from 1984 to 1987 where he obtained his Honors Degree in Mining
Engineering. His career spans more than 25 years in the mining
industry where he has established a solid track record starting
with Rio Tinto at Rossing Uranium in Namibia, and later as a mining
analyst with HSBC and then JP Morgan in London. More recently Mr.
Major was Chief Executive and later Non-Executive Chairman of Basic
Element Mining and Resource Group in Russia, and held leadership
positions in several Canadian listed mining companies with
exploration and producing assets in Canada, Russia and South
America. Mr. Major recently accepted the position of Chief
Executive Officer of GoviEx Uranium Inc., a private Canadian
company focused on becoming a significant uranium producer through
the continued exploration and development of its Madaouela Project
and its other uranium properties in Niger. Mr. Major's production
focus will assist the Company in selecting and assisting the
technical team in production strategy decisions.
Mr. Moriarty, with his wife Barbara, started a mining
information website, 321gold.com, at the very bottom of the gold
market in 2001. They were convinced that gold and silver were as
low as they were likely to go, and wanted to give other investors a
foundation for adding resource stocks to their portfolios. The
website has become influential, getting as many as 120,000 visitors
a day. The popularity of 321gold.com comes directly from the site's
quality and track record. They later added 321energy.com to cover
oil, natural gas, gasoline, coal, solar, wind and nuclear energy.
Both sites feature articles, editorial opinions, pricing figures
and updates on relevant current events. Before his Internet career,
Mr. Moriarty was a Marine F-4B pilot and O-1C/G forward air
controller with more than 820 missions in Vietnam. A captain at age
22, he was the youngest naval aviator in Vietnam and one of the
war's most highly decorated pilots. He holds 14 international
aviation records, and in 1982 flew an airplane through the pillars
of the Eiffel Tower. When asked why, his answer was typical of his
style: "Just for fun," he said. In 2008 Mr. Moriarty began a mining
venture in Tanzania named Gold Standard Tanzania after he found a
major and previously unknown surface gold project in Southern
Tanzania. He began to mine in 2009 before selling the company to
Ruby Creek in 2011. Bob looks forward with great pleasure to
helping Ruby Creek advance this Tanzanian project.
Mr. Toby Hansen had left Ruby Creek management to accept an
engineering position in Europe. Mr. Hansen requested and we happily
agreed to add Mr. Hansen to our Advisory Board where he will
continue with process engineering and gold recovery. Onsite, his
focus has been the review of processes and analysis of systems and
materials as well as developing strategies for maximizing returns
on gold and other mineral concentrates. Mr. Hansen has been an
engineer for over 20 years, beginning his career designing rare
earth magnetostrictive transducers for medical, oil/gas and
industrial applications where he obtained a wealth of knowledge of
diverse materials and processes. Subsequent to transducer design he
has spent the last six years leading research and development
efforts to enhance electromagnetic devices. Mr. Hansen earned a
bachelor in Mechanical Engineering at the University of Utah and a
Masters Degree in Engineering Mechanics at Iowa State University.
He was the editor of the Heavy Metal Investor featuring a quarterly
market newsletter and through his newsletter, he was among the
first to identify the potential of the Gold Plateau Project. Mr.
Hansen worked with Company CEO Robert Slavik to establish Ruby
Creek in Tanzania (being the 3rd person hired) and has a strong
continuing belief in the Project. We welcome his continuing
involvement.
Ruby Creek also takes this opportunity to thank Mr. Jim Richmond
who recently left the Advisory Board. The Company extends its
appreciation for his service and wishes him success in all his
future endeavors.
MANAGEMENT CHANGES The Company is pleased that Mr. Brian Fiddler
has rejoined its Management team as Controller. Mr. Fiddler returns
to Ruby Creek after serving as Ruby's CFO from May 2008 until
February 2010. He has been a Member in good standing of the
Certified General Accountants' Association of British Columbia and
the Certified General Accountants' Association of Canada since
1992. From 1992 to the present he has been providing financial
consulting to private and public companies in the United States,
Canada, Hong Kong and China. His areas of focus include mining, oil
& gas, technology, heath/nutrition and environmental products.
He also provides business consulting to private corporations
seeking to go public as well as assisting companies in raising
investment capital. His work includes preparing financial
statements in US and CDN GAAP, IFRS, consolidations, pro-forma, US
and CDN registration statements for IPO's, SOX 404 and exchange
listing upgrades. Since January 1993, he has served as the Chief
Financial Officer of Hard Creek Nickel Corp, a Canadian public
company developing a nickel sulphide deposit in north central
British Columbia, Canada. Additionally Mr. Fiddler has served as a
volunteer Secretary/Treasurer for the New Westminster Victims
Assistance Association since 2006, as a member of the City of New
Westminster Family Court Committee from 2010 to present and served
as a Treasurer for the British Columbia Aboriginal Mine Training
Association from 2009 - 2010.
Robert (Bob) Gray and James (Sonny) Dalzell, who, since February
1, 2012, were in charge of Tanzanian operations, are no longer
associated with Ruby Creek Resources.
DEBENTURE RESTRUCTURE Ruby Creek further reports that agreement
has been reached between the Company and Gold Standard (Grand
Cayman) for the restructure of an overdue $1,000,000 debenture as
well as agreement on changes to an earlier debenture that was
converted in early 2012. Under the original agreement payments of
$350,000 were due May 26, 2012 and Nov 26, 2012.
LAWSUIT UPDATE As disclosed in earlier news releases, on
February 8, 2012, Ruby Creek initiated legal action against Handeni
Gold Inc., in the State of New York addressing Handeni's
undisclosed and fraudulent re-sale of all or part of the Mkuvia
properties with those sales occurring between March 2010 and
October 2010 and damaging Ruby Creek's business. Handeni filed a
separate legal action in the Province of British Columbia against
Ruby Creek on February 23, 2012, seeking the payments, which it had
earlier waived with respect to the property rights it had
wrongfully conveyed.
The Supreme Court in British Columbia ordered the dismissal of
Handeni's civil claim against Ruby Creek on the grounds that the
Court in BC did not have jurisdiction and further that the
dismissal was without prejudice to Ruby's action in New York
against Handeni. Ruby Creek's new management can now focus its
attention on resolution of this legal action in the State of New
York.
OFFICE RELOCATION Ruby Creek has expanded its Tanzanian office
in Dar es Salaam and has relocated its U.S. office from New York to
Los Angeles.
Mr. Slavik Comments: "I extend a personal welcome to our new
Director, Advisory Board members and new Staff members. We all look
forward to continued progress in re-establishing operations and
furthering the development of our first mining license on our Gold
Plateau project. We have many challenges ahead of us and we have
made much progress in a short time, I look forward to informing you
of further progress as it concludes.
"We have a number of short-term objectives on both the
operations and corporate sides of Ruby Creek. Operationally, we are
finalizing new equipment selection and purchases, completing
existing equipment repairs, restoring and improving our two Camps
and increasing staffing levels both at our mine site and our Dar es
Salaam office including re-establishing the social and community
programs that we had proudly formerly sponsored. Corporately we
must bring resolution to the Handeni lawsuit and I welcome the
opportunity to meet with the Chairman of Handeni Gold to resolve
outstanding matters between our Companies. We must bring our
Company back to full reporting and disclosure status by completing
and filing the outstanding Form 10-K and Form 10-Q as soon as
possible. We are establishing a monthly CEO shareholder live update
forum to help keep shareholders fully informed about our
progress.
"We have brought together a team working toward our common goals
and our team will continue to grow. I am pleased to be back with
Ruby Creek especially after such a difficult and challenging time
for us all and I look forward to the rest of 2013 with excitement
and optimism."
About Ruby Creek Resources, Inc. Ruby
Creek is developing a gold property located in Tanzania known as
the Gold Plateau. Ruby's Gold Plateau Project consists of a
property with a 10-year mining license and a number of adjacent
properties containing similar deposit characteristics. The region
hosts extensive artisanal gold mining activities. Ruby Creek has
mining and processing equipment on site and is restarting the test
and commissioning phase of its gold production plan. Ruby Creek
intends to begin a hard rock exploration program on the properties
in later 2013.
Forward-Looking Statements This news
release may include certain "Forward-looking statements" within the
meaning of Section 21E of the United States Securities Exchange
Act, as amended. All statements, other than statements of
historical fact, included in this release are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. This notice expressly qualifies all
forward-looking statements in this release. The Company, through
its management, makes forward-looking public statements concerning
its expected future operations, performance and other developments.
Such forward- looking statements are necessary estimates reflecting
the Company's best judgment based upon current information and
involve a number of risks and uncertainties, and there can be no
assurance that other factors will not affect the accuracy of such
forward-looking statements. It is impossible to identify all such
factors, factors that could cause actual results to differ
materially from those estimated by the Company. They include, but
are not limited to, government regulation, managing and maintaining
growth, the effect of adverse publicity, litigation, competition
and other factors, which may be identified, from time to time in
the Company's public announcements.
On behalf of Ruby Creek Resources, Inc.
Robert Slavik, President and CEO
For Further Information Contact: Rob Slavik CEO
+1.212.671.0404 Email Contact Jurg Buhler Director +41.41.508.20.99
Email Contact www.rubycreekresources.com
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