Shear Minerals Ltd.

Shear Minerals Ltd.

December 02, 2010 14:26 ET

Shear Minerals Ltd. Announces New Directors

EDMONTON, ALBERTA--(Marketwire - Dec. 2, 2010) - Shear Minerals Ltd. ("Shear") (TSX VENTURE:SRM) is pleased to announce that Greg Missal and Dr. Keith M. Barron have been elected to the Company's Board of Directors.

Dr. Barron is an exploration geologist with over 27 years experience in the mining sector. He holds a Ph.D. in Geology from the University of Western Ontario and a BSc. (Hons) in Geology from the University of Toronto. In 2001 he privately co-founded Ecuador gold explorer Aurelian Resources Inc., which was listed on the TSXV in 2003 and made the colossal Fruta del Norte gold discovery in 2006. He is also the founder and a Director of uranium explorer U3O8 Corp. (TSX VENTURE:UWE). At the PDAC convention in March 2008 he was awarded the Thayer Lindsley International Discovery Award for his role in finding Fruta del Norte and he was also jointly named the Northern Miner's Mining Man of the Year 2008. Dr. Barron has authored a number of scholarly papers on aspects of diamond exploration and is a former writer for the Rapaport Diamond Report.

Mr. Missal received his Bachelor of Science degree from the University of Regina. He became involved in the diamond exploration business during the NWT staking rush of the early 1990's and continued active in various senior management roles in Canada's North until the late 1990's He is currently the Vice President of Corporate Affairs with Baffinland Iron Mines. He is a Director of the Nunavut/NWT Chamber of Mines and a Director of the Mining Association of Canada.

Shear also announces the resignation of Greg Hayes as Chief Financial Officer. The Company is initiating a search for a new CFO and will be making additional announcements regarding a new CFO in due course. In the interim, Darcy Ogrodnick, Shear's Controller, will serve as Interim CFO to assist through the transition. 

Additionally, the Company announces the departures of Donald Planche and David Mullen from the Board of Directors. "We would like to thank Don and Dave for over a decade of service; their continuous support and commitment are much appreciated," says Shear President and CEO Pamela Strand. Both will remain as advisors to the Board of Directors.

Shear is a Canadian-based company focused on diamond exploration and development in Canada's North, where it explores established diamond districts and has discovered new ones. Shear currently has a portfolio of eight diamond projects, including three advanced projects with development potential Shear holds a 100% interest in its recently acquired Jericho Diamond Mine and surrounding exploration assets, located in the Kitikmeot region of Nunavut. Jericho is Nunavut's first and only diamond mine.

On behalf of the Board
Pamela Strand, P. Geol., President

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from Shear's expectations are in its documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at Shear disclaims any intention or obligation to revise or update such statements.

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

  • Shear Minerals Ltd.
    Pamela Strand, P. Geol.
    780-435-0045 or 1-866-298-9695