March 28, 2012 17:07 ET
ULAANBAATAR, MONGOLIA--(Marketwire - March 28, 2012) - Undur Tolgoi Minerals Inc. ("UTM" or the "Company") (CNSX:UTM) announces that Saruul Ganbaatar has resigned as a director of the Company. Mr. Ganbaatar is stepping down to avoid potential work load conflicts during UTM's critical ramp up phase. The Company is pleased to announce that former director Paul Rapello has agreed to rejoin the Board effective immediately. The directors thank Mr Ganbaatar for his interest in UTM and wish him well in his other endeavours.
UTM is a mineral exploration company entirely focused on Mongolia, and which through its wholly owned subsidiaries, owns 100% of the "Undur Tolgoi" mineral exploration license. This license consists of 9,620 hectares of property situated 100 kilometers from the world-scale "Oyu Tolgoi" copper and gold mine. In addition, UTM's management is actively reviewing potential acquisitions and strategic industry alliances.
Disclaimer for Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.
Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Don PadgettPresident and CEO604 689-1515 ext 104Sabino Di PaolaCEO Chief Financial Officer1-888-834-7708
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