Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

June 10, 2010 20:47 ET

Takara Announces Corporate Appointments

TORONTO, ONTARIO--(Marketwire - June 10, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") announces that Mr. John McConnell, who became a director of the Company at the closing of the acquisition of the gold assets in Guyana from Victoria Gold Corp. (TSX VENTURE:VIT) ("Victoria Gold") in April, 2010, has assumed the role of Non-executive Chairman of the Board of Directors, and Jennifer Boyle, B.A., LL.B., co-founder, Director and Chief Executive Officer of the Company, has been appointed President. Pamela Strand, P. Geol., also a co-founder and Director, has been appointed Executive Vice President, and Kyle Appleby, C.A. as Chief Financial Officer.

The new appointments and corporate re-organization arises from the Company's recent acquisition of two advanced stage gold projects within the Guyana Shield, Guyana, namely: (i) the Tassawini Gold Project; and (ii) the BRL Venture (the "Guyana Gold Projects"). See news release dated April 27, 2010.

Jennifer Boyle, Chief Executive Officer, states that "the Company is now in a position to take advantage of the experience that John McConnell will bring into the organization; namely, fast-tracking development plans for the Tassawini deposit".

Mr. McConnell, a Director and Executive Vice President of Victoria Gold Corp, is a Mining Engineer with an extensive 30 year background in developing and operating mining projects. His experience includes: Mine Manager, Nanisivik Mines Ltd.; Consultant, Strathcona Mineral Services Ltd.; Vice President-Northwest Territories Projects, DeBeers Canada; and former President and CEO of Western Keltic Mines Ltd.

Ms. Boyle is Co-Founder of Takara and has several years experience in the mining industry, particularly with creating and structuring public companies and corporate transactions, all in relation with mineral property transactions, corporate acquisitions/dispositions, joint ventures, financings and business administration. Ms. Boyle is also President and Chief Executive Officer and Director of St. Eugene Mining Corporation Ltd., and President of CapEx Group Inc., a private company providing corporate finance consulting services to junior resource issuers. She is also co-founding director and former Executive VP & CFO of Canadian Royalties, Co-Founder and former Executive VP Golden Valley Mines.

Ms. Strand, Co-Founder of Takara, is a Professional Geologist with more than 20 years of geological industry-related experience predominately in exploration in Canada's North. Since 1997 to the present, Pam founded and has held the position of President, CEO and Director of Shear Minerals Ltd. Ms. Strand is also director with several private and public companies.

Mr. Appleby is a graduate of York University and obtained his Chartered Accountant designation in 2001. Since that time he has experience in finance, accounting, tax, administrative experience in diverse industries including Junior Mining, Investment Funds, Manufacturing and Distribution. Since 2009 he has been self employed. He is currently CFO for Renforth Resources and for Chudleigh Ventures Inc., and provides CFO services with CFO Advantage Inc.

Takara's Tassawini Gold Project is located 170 kilometers northwest of Guyana's Capital City of Georgetown. With over $20 million having been spent on Tassawini to date, the Company is moving quickly to complete an economic study, in conjunction with a detailed geological study for the purpose of detailing Tassawini's structural setting. Both of the advanced-stage Guyana gold projects are held in a private Guyana company (StrataGold Guyana Inc.), which was recently purchased from Victoria Gold, a holder of 40% of the issued and outstanding shares of Takara.

About Takara

Takara is a gold development company focused on the exploration and development of Tassawini Gold Project and the BRL Venture with Newmont in Guyana.

Statement Regarding Forward Looking Statements

This news release of Takara Resources Inc. (the "Company") contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company's expectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors including risks associated with working in foreign jurisdictions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as expressly required by applicable securities laws, the Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. 

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Further, 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 news release.

Contact Information

  • Takara Resources Inc.
    Jennifer L. Boyle, B.A., LL.B.
    President and Chief Executive Officer
    (647) 430-0966 (work) or (416) 904-2714 (cell)
    (647) 430-5676 (FAX)
    www.takararesources.com
    or
    Takara Resources Inc.
    Pamela Strand, P. Geol.
    Executive Vice President
    (780) 435-0045 (work) or (780) 903-0820 (cell)