Reliance Resources Limited Appoints New CFO
April 2, 2012 - Reliance Resources Ltd. ("Reliance" or the "Company"), (TSX:RI) an Indonesian gold explorer, with a portfolio of five mineral tenements covering 68,000 acres on the islands of Sulawesi and Halmahera in East Indonesia would like to announce it has appointed Julien McInally as Chief Financial Officer ("CFO") . Harvey Lim, the Company's former CFO, will move to the position of Corporate Secretary.
Mr. McInally has over 15 years experience in the resource sector including experience with capital raisings, mergers and acquisitions, project evaluation of large complex projects, strategy, commercial agreements, statutory and management reporting and (as Company Secretary) for all compliance and governance obligations of public listed companies. Mr. McInally has been Chief Financial Officer and Company Secretary of public listed entities on the TSX, AIM and ASX stock exchanges. He was most recently CFO of Gladstone Pacific Nickel Limited and has previously held various roles with BHP Billiton within their nickel and chrome business. He is a Certified Practicing Accountant and has a Masters of Business Administration.
"Julien's experience with international financial transactions within the resource sector and his experience in the Asia-Pacific region will greatly assist the company as it focuses on the development of its projects in Indonesia", commented Scott Emerson, President. "I would also like to acknowledge and thank Harvey Lim for his years of service and contributions and I look forward to his continued involvement in the company as corporate secretary."
Currently, the company is focusing on three of its five Indonesian gold projects; preparations for Phase 2 drilling on the Tanoyan Gold Project are underway, surface exploration programs ongoing at the Kapa Kapa Gold Project and the Roko Gold Project. All the company's projects have easy access via paved and/or gravel roads and the regional infrastructure is good.
Media Information, contact:
Scott Emerson, President
Investor Information, contact:
Mike Kordysz, Investor
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.