NXA Inc.
TSX VENTURE : NXI

May 15, 2009 16:34 ET

NXA Inc. Nominates New Directors and Senior Officers

TORONTO, ONTARIO--(Marketwire - May 15, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

NXA INC. (TSX VENTURE:NXI) ("NXA" or the "Company") announced today that at the annual and special meeting of shareholders to be held on June 11, 2009 (the "Meeting"), shareholders will be asked to approve the re-election of Mr. Robert Metcalfe as director of the Company, as well as the election of three new directors, subject to regulatory and stock exchange approval. The three new directors nominated are Mr. Stephen Wilkinson, the Company's proposed President and Chief Executive Officer, and two independent directors, Mr. Allan Wakefield and Mr. Robert Doyle.

Mr. Wilkinson is currently the president and chief executive officer of ValGold Resources Ltd. Mr. Wilkinson is an experienced geologist and began his career in the mining and finance industries in 1971. Since then, he has served as an officer and director of several private and public companies and worked for government agencies. Prior to joining ValGold Resources Ltd. in 2002, he served as president, chief executive officer and a director of Northern Orion Explorations Ltd. and was responsible for the restructuring of Northern Orion Explorations Ltd.

Mr. Wakefield has 40 years of experience in finance, general management and board management. He has most recently worked as a consultant to industrial and technology companies, and has previously served as a director and member of the special committee of Hollinger Inc. He has worked internationally for Alcan Aluminium Limited ("Alcan"), Spar Aerospace Ltd. and Indal Limited in various general management, strategic and finance-related roles. While with Alcan, he launched "blue box" recycling and brought aluminum cans into Canada, for which he was honoured by the United Nations for his services to the environment.

Mr. Doyle is currently chief executive officer of Medoro Resources Ltd. Mr. Doyle acted as chief financial officer of various public companies, such as Coalcorp Mining Inc., Pacific Stratus Energy Ltd., Bolivar Gold Corp. and HMZ Metals Inc.

Mr. Perry Dellelce, Mr. Charles J. Lilly and Mr. Chris Tambakis will not be standing for re-election as directors of the Company. Mr. Lilly will also be resigning as Chief Financial Officer of the Company and Mr. Metcalfe will be resigning as President & CEO, effective as of the appointment of each of their successors, expected to be immediately following the Meeting. It is expected that Mr. Metcalfe will be appointed non-executive Chairman following the Meeting. The Company wishes to thank Mr. Dellelce, Mr. Lilly and Mr. Tambakis for their services to the Company.

NXA INC.

NXA is a mineral exploration company with mineral properties in British Columbia, Canada. NXA is listed on Tier 2 of the TSX Venture Exchange.

Shares Outstanding: 66,352,357

Neither 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.

Contact Information

  • NXA
    Robert J. Metcalfe
    President and CEO
    416-400-4457