Ontex Resources Limited Announces Management Appointments & Investor Relations Initiativesadmin
Ontex Resources Limited is pleased to announce that its Board of Directors has appointed Gary Conn as the Company’s new Chairman and John Thompson as the Company’s new President. In addition, the Company is pleased to announce the appointment of Denis Crane as lead director of the Company.
Mr. Conn, formerly President of Ontex, will continue to serve as Chief Executive Officer of the Company. He has served in executive positions and as a director of Ontex since 1998.
Mr. Thompson, M.Sc. (Geology), P.Eng. previously served as Chief Operating Officer of the Company since 2006. Mr. Thompson has over 30 years experience in surface and underground exploration and mine development projects. He has held executive management positions with international mineral companies over the past 15 years, including over two years as President and CEO of a TSX listed company.
Mr. Crane has served as a director of the Company since 2005 and is President and Chief Executive Officer of Country Heritage Forest Products Ltd.
The Company is also pleased to announce it has commenced a concerted effort to increase awareness of the Company to both retail and institutional investors in Canada and abroad.
In conjunction with the Company’s recent appointments, Ontex is undertaking an expanded Investor Relations and Corporate Communications initiative in order to articulate the Company’s direction. As such, Ontex has commenced a re-branding program pursuant to which the Company expects to unveil a ‘refreshed Ontex’ comprising a new corporate indentity, website, and presentation. The first obejctive will be to highlight the Company’s flagship asset – the Brookbank Property – to both the Canadian retail and institutional investment community. Additionally, the Company intends to be an exhibitor at investment conferences in Canada, Germany and the U.S.A. later this year and in 2009.
Gary Conn, Chairman and CEO of Ontex, stated, “We are extremely pleased with the drill results announced on July 23, 2008. Phase 1 drill results on the Brookbank Gold Deposit were in line with management’s expectations. The company strongly believes that ongoing and subsequent diamond drilling will find significantly more gold resources on the 35 kilometer strike length Brookbank property, which will enhance investor value. We are now undertaking a new investor relations effort to further communicate to the investment community more about Ontex the company, its principal assets and its future plans in an ongoing effort to enhance awareness in our company.”
Gold mineralization has now been shown by diamond drilling to be present over a strike length of over 6 kilometers and to extend from surface to a depth of at least 600 meters in the Brookbank structure. Ontex controls a total of 35 kilometers of east west trending strike length of very favourable geology and structure capable of hosting additional high grade gold deposits. The 90 kilometer long, east west trending Beardmore-Geraldton gold camp has already produced an estimated 4.1 million ounces of gold and has seen very little exploration in the past 20 years.
The data herein and the contents of this news release have been reviewed by John P. Thompson, P.Eng, President of Ontex, who is a Qualified Person within the meaning of National Instrument 43-101, with the ability and authority to verify the authenticity and validity of the data.
About Ontex Resources Limited (www.ontexresources.com)
Ontex Resource Limited is a junior resource company listed on the Toronto Stock Exchange under the symbol “ONT”. The Company is engaged in gold exploration principally on its Brookbank Gold property in northern Ontario.
For further information, investors are asked to visit the Ontex IR Hub at www.agoracom.com/IR/Ontex or email to ONT@agoracom.com.