Otterburn Resources Corp.
TSX VENTURE : OBN

October 08, 2014 13:15 ET

Otterburn Announces Douglas J. Kirwin Appointment

- Former Executive Vice President for Ivanhoe Mines until Ivanhoe was acquired by Rio Tinto in 2012

- Member of the joint discovery team for the Hugo Dummett deposit at Oyu Tolgoi in Mongolia

- Co-recipient of PDAC's inaugural Thayler Lindsley Medal awarded for most significant international mineral discovery 2004

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2014) - Otterburn Resources Corp (TSX VENTURE:OBN) ("Otterburn" or the "Company") is pleased to announce the appointment of Mr. Douglas J. Kirwin, B.Sc., M.Sc., FSEG as an Advisor to K92 Holdings International Limited ("K92 Holdings"). See the Company's news release dated August 25, 2014 describing Otterburn signing a share exchange agreement whereby Otterburn will acquire all shares of K92 Holdings in exchange for common shares of the Company.

Mr. Kirwin is an independent geologist with 45 years of international exploration experience, including five years in Papua New Guinea. He held senior positions with Anglo American and Amax during the 1970's and was Managing Director of a successful international geological consulting firm during the 1980's and early 1990's. In 1995 he accepted a role as vice president, exploration for Indochina Goldfields and subsequently became the executive vice president for Ivanhoe Mines Limited until 2012 after which Ivanhoe was acquired by Rio Tinto. Mr. Kirwin was also a director of South Gobi Energy, Jinshan Gold and a founding non-executive director of Ivanhoe Australia Ltd.

As a member of the joint discovery team for the Hugo Dummett deposit at Oyu Tolgoi in Mongolia, he was a co-recipient of the PDAC inaugural Thayer Lindsley medal awarded for the most significant international mineral discovery in 2004. Other mineral discoveries made by Mr. Kirwin's exploration team include the Jelai-Mewet and Seryung epithermal deposits in north east Kalimantan, the Eunsan-Moisan gold mines in South Korea, the Moditaung gold deposits in Myanmar and the Merlin Re-Mo deposit in Australia. In 2006 Mr. Kirwin was the International Exchange lecturer for the Society of Economic Geologists and served as the Society Vice President during 2007 to 2010. He was previously an industry advisor for the Society of Applied Geologists and China Mining and a board member of the Economic Geology Research Unit at James Cook University. Mr. Kirwin holds a Master of Science degree in mineral exploration from James Cook University, Australia

ON BEHALF OF THE BOARD

Brian Lueck, President & CEO

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement or Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the reverse take-over may not be accurate or complete and should not be relied upon. Trading in the securities of Otterburn Resources Corp. should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed Transaction; the terms and conditions of the proposed financing and private placement; future exploration and testing; use of funds; and the business and operations of the Resulting Issuer after the proposed transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of current exploration and testing. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Otterburn disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • Otterburn Resources Corp.
    Brian Lueck
    President & CEO
    (604) 638-8063
    (604) 648-8105 (FAX)