Orsa Ventures Corp.
TSX VENTURE : ORN

Orsa Ventures Corp.

March 02, 2012 11:55 ET

Orsa Announces Appointment of Chief Operating Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2012) - Orsa Ventures Corp. (the "Company") (TSX VENTURE:ORN) today announced the appointment of Mr. Bruno Barde as Chief Operating Officer ("COO").

Mr. Barde, MSc, BSc, PGeo, has worked for over thirty years in international mining, including development of a copper-cobalt project in the Democratic Republic of Congo where he participated in the completion of a positive feasibility study and managed a $15 million Exploration/Development program. Previously, he was COO for National Gold Corp., and participated in the scoping study of the Mulatos Project in Mexico which is now a producing mine owned and operated by Alamos Gold Corp. Mr. Barde served in various senior management capacities with Placer Dome Inc, including that of President of Placer Dome de Venezuela, where he oversaw the planning of the Las Cristinas deposit. Most recently, he managed a $10 million dollar exploration and development program for the mid to advanced stage Santana project in Sonora County, Mexico. He has extensive experience in modeling the geology and mineralization and managing the resource consultants.

Mr. Barde received his BSc. Geology in 1978 and a MSc. Geology in 1981, both from the University of Geneva, Switzerland. He is fluent in English, French and Spanish.

"Mr. Barde brings a very solid mix of skills and experience from both the exploration and development of advanced stage projects that will serve the Company and its shareholders well as we complete the acquisition of the Quartz Mountain Project in southern Oregon and begin an aggressive program to develop the resource," stated Linda Thorstad, PGeo, President and Chief Executive Officer of the Company.

The Board of Directors of the Company has granted Mr. Barde 200,000 stock options each at a price of $0.16 per share, in accordance with the policies of the TSX Venture Exchange and the terms of the Company's Stock Option Plan.

On February 15, 2012, the Company announced an amendment to the Option Agreement with Seabridge regarding the Quartz Mountain Property and released a February 15, 2012 updated NI 43-101 compliant undiluted, inferred mineral resource of 2,848,000 ounces of gold using US$1500 per ounce and reasonable mining and processing costs. This resource has been identified on two of several rhyolite dome structures on the property.

About Orsa

Orsa Ventures Corp. is a junior company focused on the exploration for, and development of, gold-silver-copper properties in the western United States. In addition to the Quartz Mountain and Angel's Camp properties, Orsa has options to earn a 51% interest in the Ashby Gold Property, Nevada through an agreement with Bridgeport Ventures Inc. and has an option to earn a 100% interest in the Coal Canyon Gold Property in Nevada. The Company continues to actively seek new acquisitions to expand its precious metal holdings.

On behalf of the Board of Directors,

Linda Thorstad, President and Chief Executive Officer

Linda Thorstad, P. Geo., a Qualified Person as defined by National Instrument 43-101 and President and Chief Executive Officer of the Company, has read and approved the technical information in this news release.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the closing of the Financing and the use of proceeds thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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

  • Orsa Ventures Corp.
    Linda Thorstad
    President and Chief Executive Officer
    604.608.6680
    604.558.0087 (FAX)
    www.orsaventures.com