TORONTO, ONTARIO--(Marketwire - July 20, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Rae-Wallace Mining Company ("Rae-Wallace" or the "Company") (PINKSHEETS:RAEW) today announced the appointment of Greg Gibson to its Board of Directors.
Mr. Gibson is the former President and Chief Executive Officer of Trelawney Mining and Exploration Inc. Under Mr. Gibson's leadership, Trelawney discovered and advanced the multi-million ounce Cote Lake gold deposit in northern Ontario and then successfully negotiated the sale of Trelawney to IAMGOLD Corporation for $585-million. He has more than three decades of experience in the mining industry having worked as a mine manager for gold and copper mines in Australia, a nickel mine in Timmins, Ontario and a gold mine in British Columbia. He also previously worked for JS Redpath and Dynatec Mining Ltd. Mr. Gibson currently serves as a Director of several junior mining companies.
Rae-Wallace President and CEO George Cole stated, "We are very pleased that Greg has joined our Board of Directors. We believe that the leadership and skill he demonstrated at Trelawney will benefit our Company and shareholders, especially as we continue to navigate through difficult market conditions."
Rae-Wallace also announced the resignation of Ed Thompson from the Board. Management and the Board thank Mr. Thompson for his service as a Director and wish him well in his future endeavors.
Rae-Wallace is exploring drill-ready gold and silver properties along the prolific mineral belts of Peru, the world leader in foreign mining investment. The Company is led by senior industry executives and skilled explorationists, experienced at the identification, acquisition, and development of successful, large-scale, international mining projects. The Company has prominent corporate shareholders and features a tight share structure. Rae-Wallace stock currently trades on the OTC market under the symbol "RAEW".
Statements in this press release regarding the Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Corporation's future plans, objectives or goals, including words to the effect that the Corporation or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.