Silver Sun Announces Resignation of Michael Johnson and Grant of Options
Vancouver, British Columbia CANADA, Jul 19, 2011 (Filing Services Canada via COMTEX) -- Silver Sun Resource Corp.(SSU - TSX Venture)("Silver Sun" or the "Company") is pleased to announce that the Company's sale of its Yoreme Project to Strachan Resources Ltd. is progressing on schedule.Upon closing of that transaction, Silver Sun will become the largest shareholder of Strachan and Michael Johnson, a director of Silver Sun, will become Strachan's Chief Executive Officer.As a result, Michael has agreed to resign as a director of Silver Sun, effective immediately.The resignation was not as a result of any disagreement with the Company's policies, procedures or practices.
Further, the Company announces that it has granted an aggregate of 250,000 stock options to consultants of the Company. Each option is exercisable at the Company's closing price per common share on July 19, 2011 on the TSX Venture Exchange at any time until July 19, 2012 subject to the terms of the Company's Stock Option Plan.
About Silver Sun Resource Corp.
Silver Sun Resource Corp. is a Canadian-based resource company focused on the acquisition, exploration and development of precious metal deposits in North America. The Company is in the final stages of development of its gold project in Yreka, California and engaged in an on-going work program on the Zacatecas, Salvador, and Mina San Jose properties located within the prolific Zacatecas Silver District in Mexico, as well as its newly acquired Yoreme Silver Project in the mining district of Alamos, Sonora State, Mexico. The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects that can be taken to production in the near-term. The company's design is to add shareholder value through efficient exploration, strategic acquisitions and effective marketing while maintaining a low risk profile through project diversification and sound financial management.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark A. McLeary"
President
Forward Looking Statements
This release contains forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risk that the conditions to complete the acquisition of the Yoreme Property are not met including satisfactory completion of the Company's due diligence and any inability to obtain any applicable regulatory or corporate consents or approvals for the proposed acquisition, the risks associated with the mining and exploration industry including operational risks in development, exploration and production; delays in obtaining any governmental approvals required for production of the Company's mineral properties, inability to obtain access to mills or reach an agreement on commercially acceptable terms for processing of mineralized material from the Company's mining projects, delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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.
http://www.marketwatch.com/story/...07-19-112900?reflink=MW_news_stmp |
