Riverstone Resources Inc.

Riverstone Resources Inc.

October 05, 2011 09:35 ET

Riverstone Appoints New President and COO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(PINK SHEETS:RVREF)(FRANKFURT:3RV) is pleased to announce the appointment of Mr. Dwayne L. Melrose as President and Chief Operating Officer, as well as to the Board of Directors. Mr. M.D. McInnis will continue to serve as CEO of the Company and is appointed as Chairman of the Board.

"We are very pleased to have Mr. Melrose join the Riverstone team," commented M.D. McInnis, CEO of Riverstone. "As we transition Riverstone from an exploration company to a development company, Mr. Melrose's experience in taking projects from exploration through to operations will provide great benefits for Riverstone and its shareholders. He has respect within the capital markets in both North America and Europe, which will provide further benefits. I look forward to working with Dwayne as a member of the management team and the Board of Directors."

Mr. Melrose is a graduate of the University of Waterloo in Ontario. He has over 30 years' experience in the mining industry, ranging from early stage exploration through to mine operations in both open pit and underground mine operations. He has worked globally with a variety of companies. He spent twenty-one years with Cameco Corporation/Centerra Gold Inc. in Canada, the USA and Kazakhstan. Mr. Melrose was responsible for the exploration team and all programs at the Kumtor Gold Mine in the Kyrgyz Republic where he was responsible for the discovery of the high grade SB Zone, which significantly increased the reserves and resources at the mine. The Kumtor Gold Mine is the sixteenth largest gold mine in the world.

Mr. Melrose joined the Minco Mining Group in 2007, where he was directly responsible for the overall technical aspects of the exploration and development programs as well as the management of the group's staffing division in China. As the Vice President of Exploration for Minco Silver Corporation, Mr. Melrose was directly responsible for defining the Fuwan silver deposit (157 million ounces). He also managed the Preliminary Economic Assessment for the project and was involved in the preparation of the Bankable Feasibility Study completed by Wardrop. At the same time, Mr. Melrose managed the program that upgraded the project to one million ounces of gold to the Changkeng gold property held by Minco Gold Corporation.


Michael D. McInnis, P.Eng., President & CEO

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

  • Riverstone Resources Inc. - Vancouver Office
    Michael D. McInnis

    Riverstone Resources Inc.
    Raju Wani
    Investor Relations

    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations

    Riverstone Resources Inc.
    Don Mosher
    Corporate Development