MONTREAL, QUEBEC--(Marketwired - April 9, 2014) - Freyja Resources Inc. ("Freyja" or the "Company") (TSX VENTURE:FRA) announced today that Ron Keenan, a director of the Company has been appointed as Vice President Development and Corporate Secretary of the Company. Mr. Keenan has over 23 year of experience in senior executive positions at numerous major resource management players, including Laidlaw, Veolia, Matrec and Newalta.
Andre St-Michel, President and CEO of Freyja stated: "Ron has experience in business development, financial management, resource assessment, costs control, profitability improvement, and new system implementation. We welcome him as part of our management team."
Mr. Keenan will continue to serve as a director of Freyja but has resigned as a member of the Audit and of the Human Resources and Governance Committee. Mr. Robert Boisjoli, a director and member of the Audit Committee of the Company will replace Mr. Keenan as the Chairman of that committee and Mr Keenan will be replaced by Jean Halde on both the Audit Committee and the Human Resources and Governance Committee. Mr. Keenan holds a Bachelor Degree with a major in accounting (Bsc es Sciences) from the Montreal University, Ecole des Hautes Etudes Commerciales.
Mr. Keenan was granted 200,000 stock options of the Company. 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.
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. Cyprium is committed to maximizing shareholder value by strategically ensuring efficient and profitable production and focusing on a hybrid exploration/production business model. Cyprium prioritizes projects accessible by well-maintained roads and/or railroad systems. Upon completion of a conclusive exploration campaign, Cyprium's focus is to rapidly establish an economical production and maximize the project potential by funding further exploration through cash generated by production, thus limiting shareholder dilution.
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.