VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 27, 2014) - Reservoir Minerals Inc. ("Reservoir" or the "Company") (TSX VENTURE:RMC)(RVRLF)(9RE.BE) is pleased to advise that Mr. Tim Livesey has been appointed Chief operating Officer ("COO") and that Dr. Tim Fletcher has been appointed Vice President Exploration ("VP Exploration") effective immediately.
Tim Livesey, as COO, will be responsible for managing Reservoir's advanced projects including the Timok joint venture Project with our partner Freeport-McMoRan Exploration Corporation ("Freeport") and general operational activities. Tim is a geologist and has been involved in the international exploration and mining industry for over 25 years, working on a number of exploration and advanced stage projects through feasibility to development. Tim has a broad range of experience in management, advanced project development, community social responsibility, government relations and arbitration. Tim has worked on several world-class assets, including the feasibility and construction of the Nkomati nickel mine (South Africa); exploration, advanced scoping studies and the ultimate sale of 50% of the Kabanga nickel project (Tanzania) to Falconbridge; government relations at Jabal Sayid in the Kingdom of Saudi Arabia; and Tethyan Copper's Reko Diq copper-gold project in Pakistan. At Reko Diq his roles included management positions on the technical committee, as the Project Director for the scoping, pre-feasibility and feasibility studies, a 3-year tenure as the CEO, and most recently a member of the Board of Directors. Tim remains a Director at Tethyan Copper, and an advisor to Barrick's executive on the project. Tim has a Bachelor of Science degree from the University of Newcastle upon Tyne.
Dr. Tim Fletcher as VP Exploration will be responsible for managing Reservoir's portfolio of exploration projects throughout Europe and providing broad technical and management expertise to Reservoir's team. Tim has over 30 years of experience in international exploration with emphasis on exploration for porphyry and epithermal copper-gold deposits. Tim recently focused on the Tethyan Belt for Barrick Gold, and prior to that worked in South America with Magma Copper, Homestake Mining and Mount Isa Mines. Tim joined Reservoir in 2013 as a consultant. Tim has a Ph.D from Aberdeen University and is a Chartered Engineer through the Institute of Materials, Minerals and Mining.
Aleksandar Obrenovic, resigning from the position of VP Exploration, will be Country Manager, Serbia, and will focus on managing the Company's expanding activities in Serbia, including joint venture projects and an increased portfolio of exploration projects. Aleksandar has over 24 years experience in precious and base metals exploration. Aleksandar joined Reservoir Minerals at inception and was previously the principal geologist of Serbian subsidiaries of Reservoir Capital Corp. and Eurasian Minerals Inc. Prior to this Aleksandar spent 12 years working at the Serbian National Geological Institute "Geoinstitut" Beograd, participating in several international and Serbia in-country mineral exploration projects and scientific studies. He holds a graduate engineer of economic geology degree from the faculty of Mining and Geology, University of Belgrade.
Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "Over the last few years Reservoir has built a talented discovery and development team, which is supported by industry leading consultants and advisors. We are pleased to have attracted two very capable and experienced individuals to our team, and we look forward to developing Reservoir's existing high quality projects and to continued exploration success in our early stage projects."
Reservoir Exploration teams
Reservoir have exploration teams operating in Serbia, Macedonia, Romania, and Africa (Cameroon and Gabon), which continually evaluate and generate new projects for development though partnership structures. The Timok project is a notable success for Reservoir and for the project generator business model. The Reservoir discovery team is instrumental in the Company's success, and further information about the exploration team can be viewed at the following link: Exploration Team.
The Timok Project:
The Company's most notable discovery to date is the Cukaru Peki copper-gold deposit in Serbia, which is part of the Timok Project. The Company announced an initial resource estimate (65.3 million tonnes at an average grade of 2.6% copper and 1.5 grams per tonne gold) for the Cukaru Peki copper-gold deposit in the Brestovac-Metovnica Exploration Permit in News Release, January 27, 2014, and provided an update on exploration for copper-gold mineralisation in the Leskovo and Jasikovo-Durlan Potok Exploration Permits in News Release, June 4, 2014. The Timok Project is a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport") on three exploration permits (Brestovac-Metovnica, Leskovo and Jasikovo-Durlan Potok) in the Timok Magmatic Complex that cover a combined area of 245 square kilometres. Maps showing the location of the exploration permit perimeters and the Cukaru Peki copper-gold deposit are presented on the Company website (www.reservoirminerals.com).
Qualified Person:
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a consultant to the Company, has approved the technical disclosure in this release and verified the data disclosed.
About the Company:
Reservoir Minerals Inc. is an international mineral exploration and development company run by a experienced technical and management team, with a portfolio of precious and base metal exploration properties in Europe and Africa. The Company operates an exploration partnership business model to leverage its expertise through to discovery.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.