TORONTO, ONTARIO–(Marketwired – Jan. 11, 2018) – Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) (“Dalradian” or the “Company”) announces that Michael Barton has been appointed as a non-executive director of the Company, as Orion Mine Finance Fund II LLP’s (“Orion”) designated nominee, effective immediately.
Patrick F.N. Anderson, Dalradian’s President and CEO, commented:
“We are delighted to welcome Mike Barton to our Board. He is well known in the London and broader financial markets, having served on the boards of many listed mining companies. Dalradian will benefit from his extensive experience in mine project finance and development as we continue to advance our high-grade Curraghinalt gold project through permitting and project financing.”
Michael Barton is a Portfolio Manager at Orion, a mining-focused investment business with approximately .7 billion under management (at December 31, 2017) that provides flexible capital investment solutions to mining companies in the base and precious metals sector. Orion has demonstrated capability in debt, equity, and production-linked investments, such as streams, offtakes and royalties. Prior to Orion, Mr. Barton was Chief Executive Officer of Pala Investments, a mining‐focused investment company. Mr. Barton held various positions at Pala Investments, having joined Pala shortly after its formation. At Pala, Mr. Barton was responsible for all aspects of strategy development, deal origination, investment management and portfolio management across a broad portfolio of investment types, including public equity, private equity, debt, convertible debt, royalties and product streams. Before joining Pala, Mr. Barton was Vice President at Hatch Corporate Finance (now HCF International Advisers), a mining and metals‐focused corporate finance boutique. Mr. Barton holds a First Class Honours degree in Geography from the University of Leicester. He is a qualified chartered accountant (ICAEW).
In terms of the appointment of Michael Barton (aged 38) to the board, there is no further information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies, save for the following:
- Current directorships/partnerships: Orion Resource Partners (UK) LLP, ORP Investment (UK II) LLP, Mitchell Drilling Pty Limited.
- Past directorships/partnerships (past five years): Pala Investments Limited, Sierra Rutile Limited, Concord Resources Limited, Kore Potash Limited, Hana Mining Ltd, Nevada Copper Corp., Peninsula Energy Limited, WDS Limited, 8926549 Canada Inc., Datamine Investments Limited, Tamzamdex LLP.
- Mr. Barton is indirectly interested in approximately 0.009% of the issued share capital of Dalradian through his indirect holding in Orion.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a mineral exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Curraghinalt Project is in permitting, with exploration ongoing to build on the positive feasibility study released in January 2017.
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking information” which may include, but is not limited to, statements with respect to future financial or operating performance of the Company and its subsidiaries and its mineral project, the future price of metals, test work and confirming results from work performed to date, the estimation of mineral resources and mineral reserves, the realization of mineral resource and mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage, the timing and possible outcome of pending regulatory matters and the realization of the expected production, economics and mine life of the Curraghinalt gold deposit.
Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, such as continued political stability in Northern Ireland, that permits required for Dalradian’s operations will be obtained in a timely basis in order to permit Dalradian to proceed on schedule with its planned exploration and mine development, construction and production programs, that skilled personnel and contractors will be available as Dalradian’s operations commence and continue to grow towards production and mining operations, that the price of gold will be at levels that render the Dalradian’s mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource and mineral reserve estimates and current mine plans, that the assumptions contained in the Company’s Technical Report dated January 25, 2017 are accurate and complete and that a permitting application for mine construction will be approved .
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Dalradian to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current and future exploration activities; the actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2016 dated March 23, 2017.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Vice President Communications
+1 416 583 5600
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+44 (0)20 7383 5100
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O’Connor / Martin Davison
+44 (0)20 7523 8000