Troy Resources NL

Troy Resources NL

November 26, 2008 00:06 ET

Troy Resources NL: Resignation of Non-Executive Director Tommy McKeith

PERTH, WESTERN AUSTRALIA--(Marketwire - Nov. 26, 2008) - Troy Resources NL ("Troy") (TSX:TRY)(ASX:TRY) -


Mr Tommy McKeith has confirmed his intention to resign from the Troy Board effective November 26, 2008, as part of the planned transition announced in September 2007.

Mr McKeith joined Troy as an Executive Director and Chief Executive Officer of Troy on April 3, 2006. Before joining Troy he worked seventeen years for international gold producer Gold Fields Limited.

In September of 2007, Mr McKeith resigned from Troy returning to Gold Fields in the role of Executive Vice President, Exploration and Business Development. At that time he agreed to stay on the Troy Board for 12 months as a Non-Executive Director to help facilitate the transition to a new CEO. That transition is now complete and Mr McKeith will now leave the Troy Board.

Commenting on Mr McKeith's departure, Troy's Chairman, John Dow, said, "Tommy came to Troy as our Sertao Gold mine in Brazil was winding down. He was instrumental in acquiring our current Brazilian producer - the Andorinhas Mine, as well as spearheading the acquisition of a strategic equity position in TSX-listed Comaplex Minerals Corp. which we recently sold for a substantial profit."

"Equally importantly I would like to thank Tommy for his decision to stay on the Troy Board as a Non-Executive Director. Despite heavy work commitments at Goldfields he has contributed significantly to Troy's successful CEO transition."

Commenting on the announcement, Troy's CEO, Paul Benson, said, "On a personal level I would like to thank Tommy for his assistance and support to me in my first year as CEO of Troy. Tommy ensured a smooth transition during a time of great change both within Troy and in the international markets."

Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a "qualified person" under National Instrument 43-101 - "Standards of Disclosure for Mineral Projects", and a member of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration, and to the activity he is undertaking, to qualify as a "competent person" as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Doyle has reviewed and approved the information contained in this report. For further information regarding the Sandstone project, including a description of Troy's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Sandstone project please refer to the technical report entitled "Troy Resources NL: Sandstone Gold project, Mid West Region Western Australia" dated June 2007, which is available under the Company's profile at

This report contains forward-looking statements. These forward-looking statements reflect management's current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of gold, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in ore grade or recovery rates, plant and/or equipment failure, delays in obtaining governmental approvals or in the commencement of operations.

For purposes of Clause 3.4(e) in Canadian Instrument 43-101, the company warrants that Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

ABN 33 006 243 750

Contact Information