VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2012) - Bearing Resources Ltd. ("Bearing", or the "Company") (TSX VENTURE:BRZ) is pleased to announce the appointment of Geoff Chater as Executive Chairman, Robert Cameron as President and CEO and David Watkins as Lead Independent Director as part of a management realignment.
Geoff Chater commented, "I look forward to continuing to be a driving force behind the development and growth of Bearing in my new capacity as Executive Chairman, while allowing Robert to focus on the day to day running of the Company. I would also like to thank David for his service as Chairman and for his continued support as the Lead Independent Director."
In addition, to the above mentioned changes Paul Reinhart has resigned as Manager of Corporate Relations but will continue to provide ongoing consulting services to the Company through his Vancouver based consulting business on a contract basis focusing on business development and corporate relations for $6,000 per month. The Company has also rationalized its overhead by transferring some of its administrative functions from Mexico to Vancouver.
Robert Cameron was formerly the VP Business Development and will assume the role of President and CEO of the Company, effective October 3, 2012. Robert was previously President and CEO of Valley High Ventures, prior to the formation of Bearing Resources, and has over 30 years of experience in the mining industry. He has recently held the position of Mining Analyst for Research Capital Inc. and prior to that held the position of Vice President and Manager of Exploration for Phelps Dodge Corporation of Canada Limited (a subsidiary of Freeport McMoRan Copper and Gold Inc.). He is also a qualified person for the purposes of National Instrument 43-101.
About Bearing Resources
Bearing is a Canadian based precious and base metal exploration company with projects located in British Columbia, the Yukon and Mexico. Bearing is exploring at the ~40,000 hectares Mapimi gold-silver project located in the Altiplano Region of eastern Durango, Mexico. Bearing has an option to earn up to a 65% interest in the 12,113 hectare Zymo copper-gold project ("Zymo"), located 45 kilometres west from the town of Smithers, British Columbia. The Company's Mount Polley and October Dome copper-gold projects are located in British Columbia near Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary property, with Imperial. In the Yukon, Ryan Gold Corp. has been granted a right to earn up to 75% interest in Bearing's Flume property located within the White Gold District.
BEARING RESOURCES LTD.
Robert Cameron, President & CEO
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to, those with respect to potential future and exploration potential of anomalies and properties involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Bearing to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of commodities, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.
Neither 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 release.