Troy Resources Limited

ASX : TRY
TSX : TRY


Troy Resources Limited

April 28, 2014 20:29 ET

Troy Managing Director Gives Notice of Resignation

PERTH, WESTERN AUSTRALIA--(Marketwired - April 28, 2014) -

NOT FOR RELEASE TO UNITED STATES NEWSWIRE SERVICES

Gold producer Troy Resources Limited (ASX:TRY)(TSX:TRY) (Troy or Company) announces that Mr Paul Benson, Managing Director and Chief Executive Officer has given his notice of resignation from his role with the Company. Mr Benson will work with the Board to ensure a smooth transition to his successor.

Troy Chairman Mr David Dix thanked Mr Benson for his outstanding service since joining the Company in October 2007.

"Troy has grown as a company during Paul's period of stewardship and is now well funded and active in three South American countries. Troy has recruited a strong Board and management team that will provide continuity and stability as it works towards development of the Karouni project in Guyana, and the continuing operation of Casposo in Argentina and Andorinhas in Brazil."

"I will work with Paul and the management team during the period until a successor is identified. The Board has commenced the recruitment process which we anticipate to be completed within two to three months. I have no doubt the strong management team will maintain the Company's momentum during the transition."

Troy CEO Mr Paul Benson said, "Now is a logical time from both a personal and Company perspective for me to hand the reigns to someone else. I have been in the role for almost seven years and, with our operations in South America, that's an awful lot of time away from home. I am looking forward to taking an extended break and spending time with my family."

"From a Company perspective the focus over the next 12 months will be building the Karouni mine and I have no doubt Ken Nilsson and his team will do an outstanding job as he has done with each of Troy's mine developments. Changing over now will give the new CEO time to understand the Company and then commence the search for the next opportunity."

"In the short term I look forward to working with the Board and my Chairman to ensure a smooth transition. Over the longer term, I am looking forward to watching the value of my shareholding in Troy appreciate as the value of the Karouni project and the exploration potential at both Karouni and Casposo is better reflected in the Troy share price."

ABN: 33 006 243 750

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