REC Minerals Corp.
TSX VENTURE : REC

REC Minerals Corp.

July 13, 2010 08:55 ET

REC Minerals Announces Appointment of Respected Mining Engineer to Board of Directors and Appoints VP for Exploration

TORONTO, ONTARIO--(Marketwire - July 13, 2010) - REC Minerals Corp. ("REC" or the "Company") (TSX VENTURE:REC) is pleased to announce that Andrew Hara (Harasimowicz), P.Eng., has been appointed a director of the Company, subject to regulatory approval.

Mr. Hara, a respected mining engineer, has over 30 years of broad international mining experience with a proven track record of success. He has worked in production, engineering and management with a number of mining companies such as Denison Mines, Falconbridge and Polish Copper Mines, and at Noranda as a Director of Mining. Mr. Hara's work experience covers a variety of roles in management, operations, project start-ups, engineering and mine design. He has extensive international mining experience through work assignments including due diligence, planning and feasibility studies and mine evaluations in numerous countries including North and South America, Europe, Australia, Africa, and Asia.

Mr. Hara holds an Honour's Bachelor of Science degree in Engineering from the Academy of Mining and Metallurgy in Poland and is a member of the Association of Professional Engineers of Ontario and the Canadian Institute of Mining and Metallurgy.

Kabir Ahmed, Chairman, President and Chief Executive Officer of the Company, stated "We are truly fortunate to have someone of Mr. Hara's technical expertise join the Board of Directors as the Company moves forward in developing its current portfolio of base and precious metal projects." Mr. Ahmed added "Given Mr. Hara's extensive international mining experience and contacts, he is well-positioned to assist the Company identify and acquire promising exploration and near-production mineral projects in the future."

The Company also wishes to announce that Dr. Trevor Boyd, Ph.D., P.Geo., a current director of the Company, will be appointed Vice Exploration for Exploration of the Company effective immediately. 

Dr. Boyd is a professionally designated geologist with two decades of resource-industry experience. Since 1987, he has worked for numerous mining companies including Noranda, Falconbridge and Westmin Resources. He has also lectured in economic geology at York University. Dr. Boyd is a qualified person ("QP") for the purposes of National Instrument 43-101 - Standards of Compliance for Mineral Projects of the Canadian Securities Administrators. Dr. Boyd earned his PhD in geology from the University of Toronto and his Master of Science Applied (MINEX) degree from McGill University.

Mr. Ahmed stated "Now that REC has a number of exciting mineral properties under exploration, Dr. Boyd's hands-on supervision of these exploration programs will be instrumental in developing each of the Company's properties to their full potential." 

The Company wishes to announce that it has granted options to acquire 200,000 common shares of the Company at an exercise price of $0.115 per share to Mr. Hara pursuant to the Company's stock option plan. These options, which will vest quarterly over a period of twelve months, expire on July 12, 2015.

ABOUT REC

REC is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The principal property of REC is the Yukon Olympic Property, comprised of 272 quartz mining claims in the Dawson Mining Division, Yukon Territory, Canada, which is prospective for iron oxide, copper and gold mineralization and in which REC holds an option to acquire up to a 65% interest. The Corporation also holds an option to acquire a 100% interest in the North Nonacho Property comprised of two mining claims covering 60 units in the vicinity of Nonacho Lake, Northwest Territories, Canada, an option to acquire a 100% interest in the MC Dalhousie Property comprised of two mineral claims located in northwestern British Columbia, Canada, and an option to acquire a 100% interest in the Esten Property comprised of 26-claim unit block located 10 km south of Elliott Lake, Ontario, Canada. The common shares of REC trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 16,575,000 common shares issued and outstanding.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of REC or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of REC with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in REC's prospectus and in other continuous disclosure documents that will be filed by REC from time to time with the Ontario Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning REC, its prospects and the risks and uncertainties relating to REC and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of REC to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, REC cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. REC does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or 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.

Contact Information

  • REC Minerals Corp.
    Kabir Ahmed
    Chairman, President and Chief Executive Officer and Director
    (416) 365-6580
    (416) 946-1951 (FAX)