Canadian Shield Resources Ltd.
TSX VENTURE : EXP

Canadian Shield Resources Ltd.

June 24, 2010 08:00 ET

Canadian Shield Strengthens Board and Approves Name Change at Annual Meeting

TORONTO, ONTARIO--(Marketwire - June 24, 2010) - Canadian Shield Resources Ltd. (TSX VENTURE:EXP) ("Canadian Shield" or the "Company") is pleased to announce the election of Donald Taylor to its Board of Directors at its Annual and Special Shareholders Meeting held on June 22, 2010.

Mr. Taylor is a geologist and mining executive with more than 30 years experience in Canada, Ireland, Australia, China, South Africa, Peru and the United States. He has been involved in base and precious metal projects from exploration to mine development for large and small cap companies, including BHP Minerals, Westmont Mining Company, Bear Creek Mining, American Copper and Nickel, and Doe Run Resources. He is presently Vice President Exploration of Wildcat Silver Corp. of Vancouver, BC. Mr. Taylor has a Bachelor of Science degree in Geology from Southeast Missouri State University (1979) and a Master of Science degree in Geology from University of Missouri-Rolla (1983). He is a Fellow of the Society of Economic Geologists and a member of the Society for Mining, Metallurgy and Exploration (SME). Mr. Taylor is a Registered Professional Geologist in several western states and is a "Qualified Person" as defined by National Instrument 43-101 of the Canadian securities regulators. 

Shareholders also re-elected Bernard Kraft, Keith Laskowski, Gregory Harris, Michael Kraft and Fernando Pickmann as directors of the Company. Sol Mednick did not stand for re-election and the Company wishes to thank him for all his contributions to Canadian Shield during his term as a board director.

In addition, the Shareholders also approved changing the Company name to Estrella Gold Corporation, reflecting its focus on gold exploration and resource definition in Latin America. The shareholders also approved:

  • the reappointment of Collins Barrow Toronto LLP, Chartered Accountants as auditors
  • amendments to the Company's Stock Option Plan increasing the maximum number of common shares reserved by Canadian Shield for issuance pursuant to the Stock Option Plan from 1,530,007 to 2,377,609, approximately 20% of its issued and outstanding common shares, removal of required vesting provisions and increasing the maximum term to 10 years

More specific details of the matters approved at the Meeting are set forth in Canadian Shield's Information Circular dated May 25, 2010 and posted on SEDAR at www.sedar.com.

About Canadian Shield Resources Ltd. (TSX VENTURE:EXP) Canadian Shield is a precious metals exploration and development company focused on strategically-located properties in Perú and Chile. Canadian Shield has seven precious metal exploration projects in Perú and one in Chile. The Company's shares are listed on the TSX Venture Exchange (TSX VENTURE:EXP). Further information is available at Canadian Shield's website: www.canadianshieldresources.com.

STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

NEITHER 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 THIS RELEASE.

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