Vancouver, B.C., March 26, 2012. Magna Resources Ltd. (Magna or the Company) is pleased to announce the appointment of Mike Sieb as president of the Company. Mr. Sieb brings 25 years of strong corporate growth and project management experience in international mining and exploration. He holds a Masters of Business and Administration degree from the University of British Columbia and a Bachelor of Science Degree in Geology from Concordia University.
Prior to joining Magna, Mr. Sieb was president of International Lithium Corp., guiding the company through to listing on the TSX Venture Exchange under a Plan of Arrangement, structuring a strategic relationship agreement with one of the more prominent Asian based lithium manufacturers and advancing the companys 160km2 lithium-potash brine project in Argentina. Mr. Siebs stewardship of public companies was recognized when Brilliant Mining Ltd. was named to the TSX50 “Top 10 Mining Companies on the TSX: V” for two consecutive years during his tenure as president.
Mike has established himself as a committed executive with an exceptional array of skills essential for operating and developing a premier mining company, stated Rudy de Jonge who is stepping down as president of Magna but remains as chief executive officer. Mikes experience and singular focus on Magna will greatly enhance and expedite the development of our highly prospective potash project at this critical time.
Magna is dedicated to the acquisition and development of potash mineral deposits in the United States and elsewhere. Magna wholly-owns American Potash LLC, which in turn owns and operates the Green River Potash Project in Utah. American Potashs area of interest covers key land positions in known potash-bearing sedimentary cycles in Utahs Paradox Basin.
On behalf of MAGNA RESOURCES LTD.
“Rudy de Jonge ”
Rudy de Jonge
Chief Executive Officer
Magna Resources Ltd.
This press release contains forward-looking information regarding managements anticipated completion of the proposed private placement financing and its anticipated use of the proceeds. The forward-looking information contained in this press release is made based on expectations of management as of the date of this press release and, except as required by applicable law, Magna does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Magna to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. There is no assurance that Magna will be able to raise some or all of the proposed private placement financing.
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