Greystar Resources Ltd.

Greystar Resources Ltd.

October 06, 2009 02:00 ET

Greystar Resources Appoints Geoff Chater Vice President Corporate Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2009) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) is pleased to announce the appointment of Geoff Chater as Vice President Corporate Development. Reporting to the CEO, Mr. Chater will have the primary mandate of developing and executing a communications strategy to increase awareness of the Company's plans and performance. Mr. Chater has been an Independent Director of Greystar since May, 2006. In accepting this position, Mr. Chater has stepped down from the Board of Directors. The Board will immediately initiate a search to fill the vacant position.

David Rovig, President and CEO commented "Geoff is a welcome addition to the senior management team at Greystar. His experience in the mining industry as a liaison with the investment community will improve our efforts to effectively communicate with our stakeholders. Geoff will also be responsible for providing advice on strategic initiatives including corporate finance and business development. While we will miss his contributions as a Director, the Board believes that Geoff's previous experience with growth oriented mining companies will be an asset as Greystar transitions from explorer to producer."

Mr. Chater holds a B.Sc. Degree in Geology from Texas Christian University and has over 22 years of experience in the mining industry. Mr. Chater is a Principal of Namron Advisors, a corporate communications consultancy and from 1999-2008, held the position of Manager of Corporate Relations for copper producer First Quantum Minerals Ltd. During his career, Mr. Chater held similar positions with Nevada Pacific Gold Ltd., Eldorado Gold Corporation, Fairbanks Gold Corporation and Ivanhoe Capital Corporation.

Recently appointed Chief Financial Officer Mr. Timothy Lallas (news release August 18, 2009) has also been appointed to the new position of Vice President Finance, Administration and CFO.

About Greystar Resources Ltd.

Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life.

Forward-Looking Statements

Certain statements in this press release are "forward-looking" within the meaning of Canadian securities legislation. They include statements regarding the anticipated effect of the new appointments, estimated annual production and estimated mineral resources. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, conclusions or realization of mineral resources, the actual results of exploration activities, possible variations in ore grade or recovery rates, fluctuations in the price of gold and silver, risks relating to additional funding requirements, political and foreign risks, production risks, environmental regulation and liability, government regulation as well as other risk factors set out under the heading "Risk Factors" in the Company's final short form prospectus dated September 22, 2009 which is available on SEDAR at Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Greystar Resources Ltd. - North America
    Mr. Geoff Chater
    (604) 614-7830
    Greystar Resources Ltd. - North America
    Mr. Andreas Curkovic
    Investor Relations
    (416) 577-9927
    NCB Stockbrokers Limited - London
    Christopher Caldwell
    +44 (0) 20 7071 5200