Freyja Resources Inc.

TSX VENTURE : FRA


Freyja Resources Inc.

April 28, 2014 08:00 ET

Freyja Resources Appoints Chief Financial Officer and Director of Finance

MONTREAL, QUEBEC--(Marketwired - April 28, 2014) - Freyja Resources Inc. ("Freyja" or the "Company") (TSX VENTURE:FRA) announced today the appointment of Mrs. Isabelle Gauthier (CPA, CA) as Chief Financial Officer and Mr. Samuel Avendano Cruz (CPA, CA) as Director of Finance.

Andre St-Michel, President and CEO of Freyja stated: "We continue to build a strong management team in parallel with the development of our Las Cristinas mining project in Mexico. Isabelle's extensive experience as Chief Financial Officer of mining companies is exactly what we were looking for. Also, given Samuel's diverse experience, as well as him being fluent in French, English and Spanish, he is the ideal candidate to assist Isabelle and facilitate the flow of information between our local Mexican team and our team in Canada in all aspects of accounting and finance."

Mrs. Gauthier, completed a B.A. in Administration from Université du Québec à Montréal (UQAM) and has been a member of the Ordre des Comptables Agréés du Québec since 1998. She held the position of Senior Director within the firm Raymond Chabot Grant Thornton for which she worked as an Auditor from 1996 to 2006. Through her involvement in various assignments, she acquired a solid experience in management and financial reporting.

Mr. Avendano earned a Bachelor degree in Business Administration and a Graduate Diploma in Public Accounting from the HEC at the Université de Montréal. Mr. Avendano has over nine years of accounting experience in consulting and auditing, working with accounting firms and three years in medium and large public companies. He has developed an expertise in consolidation, consolidation of foreign subsidiaries, foreign currency transactions and investments' accounting. He has been a Member of the Canadian Institute of Chartered Accountants and Quebec CPA Order since 2008. In 1996, he earned a college degree in Mechanical Engineering at CEGEP St-Laurent in Montreal, Canada. He has more than six years of experience in various field of mechanical engineering.

Mrs. Gauthier was granted 100,000 stock options of the Company and Mr. Avendano Cruz was granted 50,000 options. Each option entitles its holder to acquire one common share of the Freyja at a price of $0.20 per share for a five-year period.

The appointment of Mrs. Gauthier is subject to TSX Venture Exchange approval. The Company wishes to thank its previous Chief Financial Officer, Mr. Benoit Forget. Mr. Alain Lambert, Chairman of the Board noted: "Benoit did a good job in assisting the Company with all accounting matters relating to its acquisition of Cyprium Mining Corporation in October 2013 and the preparation of the Company's first quarter financial statements which for the first time included the consolidation of the Company's new Mexican subsidiaries."

About Freyja Resources Inc.

Freyja Resources Inc. is a mining exploration company listed on the TSX Venture Exchange under the symbol "FRA". Freyja Resources' main operations are conducted in Mexico through its wholly-owned subsidiary Cypriummining de Mexico SA de CV ("Cyprium"). Cyprium is a mineral exploration company which targets the acquisition and generation of mining projects located solely in Northern Mexico that have a potential for profitable precious and base metal open pit production.

The Company's main project is the Las Cristinas copper/silver project located in Chihuahua State, Mexico. Cyprium owns 51% of Coyame Copper SA de CV ("Coyame Copper"), a Chihuahua, Mexico based mining exploration company and has an option to increase its stake in Coyame Copper to 70% for a consideration of US $1.2 million payable over a period of eighteen months following the exercise of the option. Coyame Copper's Las Cristinas Project consist of four adjacent exploration concessions (Las Cristinas, La Parita, La Verde and La Lagrimosa) covering 684 hectares. Coyame Copper also owns production assets located outside the town of Coyame, Mexico.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated plans for developments of the Company and its mining projects".

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by Company's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third party relationships, risks affecting the ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the efforts by Company will be successful. Additional assumptions and risks are set out in detail in the Company's MD&A, available on SEDAR at www.sedar.com.

Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

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