Exall Resources Limited
OTC Bulletin Board : EXALF

Exall Resources Limited

May 16, 2006 14:04 ET

Exall Resources Limited: Douglas Scharf Appointed Vice President, Finance And Chief Financial Officer

TORONTO, ONTARIO--(CCNMatthews - May 16, 2006) - Stephen G. Roman, Chairman, President and Chief Executive Officer of Exall Resources Limited ("Exall" or the "Company") (TSX:EXL)(OTCBB:EXALF), is pleased to announce the addition of Douglas Scharf to the Company's management team as Vice President, Finance and Chief Financial Officer ("CFO").

Mr. Scharf is an experienced mining executive who led the $350 million financing for the acquisition of Hudson Bay Mining and Smelting Co. Limited from Anglo American forming HudBay Minerals Inc. His positions in past years included being Vice President, Finance and CFO of Inmet Mining Corporation; Vice President, Finance of Placer Dome Inc.; and Vice President, Finance and CFO of Dome Mines Limited. Mr. Scharf is a Chartered Accountant.

"We are very pleased to have Mr. Scharf, who has a great deal of experience in the Red Lake gold camp, join our management team. We expect his considerable financial expertise will be fully employed at Exall," said Mr. Roman.

Edward J. Badida, the former Vice President, Finance and Secretary-Treasurer, has resigned in order to pursue other endeavours. We thank Mr. Badida for his many years of service to the Company and wish him every success.

Exall Resources Limited is a Toronto Stock Exchange listed company that trades under the symbol EXL; in the United States, Exall trades as EXALF on the US OTC market (S.E.C. registration #82-3535). Exall is active in the business of gold exploration and development in Red Lake, Ontario, as well as oil and gas exploration, development and production from its properties in Alberta, British Columbia, Texas and in the North Sea offshore the United Kingdom. Exall owns 3,398,000 common shares of Southern Star Resources Inc., the Company's joint venture partner in the Gold Eagle Project.

There are 79,353,030 common shares issued and outstanding.

Contact Information

  • Exall Resources Limited
    Stephen G. Roman
    Chairman, President and CEO
    (416) 368-3949
    (416) 368-5146 (FAX)