SOURCE: Calais Resources Inc.

August 11, 2005 08:30 ET

Calais Resources Announces Board of Directors Changes

NEDERLAND, CO -- (MARKET WIRE) -- August 11, 2005 -- Calais Resources Inc. (OTC BB: CAAUF), herein the "Company," is pleased to announce several changes to its Board of Directors.

Mr. Melvin Martin has decided to step down from his board position with Calais Resources. The company wishes to thank Mr. Martin for his efforts over the past several years in helping to guide the company.

As part of the Board restructuring, Mr. R. David Russell and Mr. David K. Young have been appointed to the Board of Directors of Calais Resources, effective immediately.

Tom Hendricks, President and CEO of Calais, stated, "It is with great pleasure that Calais Resources welcomes Mr. Russell and Mr. Young to the company's board. Both individuals are mining professionals with many years of experience in operating companies and mines, including all aspects of the business. We are all looking forward to advancing the assets of Calais Resources including continued exploration, development and construction of our assets into operating mines."

Safe Harbor

The future conduct of the company's business and its response to issues raised by third parties are dependent upon a number of factors, and there can be no assurance that the company will be able to conduct its operations as contemplated. Certain statements contained in this release using the terms "may," "expects to," "projects," "estimates," "plans," and other terms denoting future possibilities, are forward-looking statements in accordance with the Private Securities Litigation Reform Act of 1995. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability.

Contact Information

  • Contact:
    Tom Hendricks
    President and CEO
    303 258-3806
    Email: Email Contact