Newfoundland Goldbar Resources Inc.

April 05, 2007 15:05 ET

Newfoundland Goldbar Resources Inc.: Board Change and Grant of Options

ST. JOHN'S, NEWFOUNDLAND and LABRADOR--(CCNMatthews - April 5, 2007) - Newfoundland Goldbar Resources Inc. (Newfoundland Goldbar)(NEX:NGB.H) reports that Mr. Victor French has tendered his resignation from the Board of Directors effective April 2, 2007.

The company is also pleased to report that effective April 3, 2007, Mr. Leo P. Power has joined the Board. Mr. Power holds a BA from Memorial University and a MBA from the Joint Kellogg-Schulich Executive MBA program at York University. During the past fifteen years, he has operated an independent consulting company with emphasis on business and government relations. During the period 1984 - 1989 he was senior assistant to the Honourable John C. Crosbie during Mr. Crosbie's tenure in the federal portfolios of Justice Minister, Minister of Transport and Minister of International Trade. He also acted as Principal Secretary to the former Premier of Newfoundland and Labrador, the Honourable Tom Rideout, during his term of office in 1989. Mr. Power continues his consulting business and has a number of business interests in the Province. He is a member of the Board of Directors of Crosshair Exploration and Mining Corporation and was recently appointed to the Board of Directors of New Island Resources Inc.

The Company also reports that Newfoundland Goldbar has granted Mr. Power an option to purchase 250,000 common shares of Newfoundland Goldbar at an exercise price of $0.10 per share expiring November 7, 2011.

The company welcomes Mr. Power to the Board and extends its appreciation to Mr. French for his significant contribution during his term of office.

The TSX Venture Exchange (TSXV) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Newfoundland Goldbar Resources Inc.
    Harold L. Wareham
    709-576-2236 (FAX)