October 5, 2010, Vancouver, BC -- Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV-HTR) is pleased to announce the appointment of mining industry veteran Patrick R. Smith to the role of President and Chief Executive Officer.
In his new position, Mr. Smith will be responsible for managing all aspects of the Company's affairs, including corporate strategy, financial and business management, asset development, stakeholder relationships and day-to-day operations. In the immediate term, Mr. Smith will focus his attention on the advancement of Heatherdale's principal asset, the high-grade development opportunity at southeast Alaska's Niblack copper-gold-zinc-silver project.
"We are extremely pleased with the addition to Heatherdale's senior management team of a proven industry leader of the caliber of Patrick Smith," said Scott Cousens, Chairman of Heatherdale Resources Ltd. "Patrick's extensive industry background and international project development experience make him an ideal candidate to move the Niblack Project forward and provide strategic leadership to the Company."
"The Heatherdale Board of Directors also wishes to extend its thanks to interim President and CEO David Copeland for his contributions in establishing a strong foundation for the Company and setting the Niblack Project on a positive trajectory. David will continue on as a Director of Heatherdale, providing oversight to mine development activities," said Mr. Cousens.
Mr. Smith is a professional geologist who brings 35 years of practical and executive management experience in the international minerals industry to Heatherdale. Prior to joining Heatherdale, he served 32 years within the Rio Tinto organization -- including senior posts as Managing Director Exploration, Australasia Region based in Perth, Australia and Exploration Executive based in London, UK. Over the course of his career with Rio Tinto, Mr. Smith has been involved with a series of globally diverse mineral exploration and development projects spanning a range of mineral commodities -- including gold, copper, molybdenum, iron ore, diamonds, industrial minerals and metallurgical coal.
The new Heatherdale President & CEO also brings extensive northern and Alaska experience to his new role, having served 10 years with Kennecott Exploration as Exploration Manager for Alaska, designing and implementing mineral exploration and development projects in Alaska and the Yukon, including the development of commercial partnerships with Alaska Native corporations. Mr. Smith's most recent postings include serving as President of Rockford Resources LLC and as an independent Director of Great American Minerals Exploration, a private Nevada corporation.
"Heatherdale and the Niblack Project in particular, present a unique opportunity for me to leverage my career experience in mineral exploration and development, as well as my lengthy track record and extensive relationships in Alaska, to achieve near-term project development success," he said. "I am also pleased to be associated with a Hunter Dickinson Inc. (HDI)-affiliated company and fully endorse the approach to Responsible Mineral Development that is the hallmark of Niblack and every other HDI project."
Mr. Smith holds a B.Sc. (Honours) in Geology from Eastern Washington University and has completed the Business Leadership Development program at Duke University as well as the Strategic Leadership Program at the London School of Business. He is a Professional Registered Geologist in a number of US states, a Fellow of the Society of Economic Geologists, and a longstanding member of the Alaska Miners Association.
Heatherdale Resources Ltd.
Heatherdale Resources Ltd. is a Vancouver-based exploration and development company associated with Hunter Dickinson Inc. (HDI). The Company is focused on advancing the high-grade mine development opportunity at the Niblack Project. Heatherdale has the right to retain a 51% interest in the Niblack Project and an option to acquire up to a 70% interest from Niblack Mineral Development Inc. (formerly CBR Gold Corp.).
The Niblack Project is located on Prince of Wales Island in southeast Alaska, and hosts six known precious-metals-enriched volcanogenic massive sulphide (VMS) deposits within a 10 square mile mineral property. Two underground drill rigs are currently working to expand the copper-gold-zinc-silver mineralized body located adjacent to the Lookout Zone.
Niblack's location at tidewater in southeast Alaska presents a number of project benefits, including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native Corporation partners. The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport. The State's burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources' 'Large Mine Permitting Team'. For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.
Hunter Dickinson Inc.
Hunter Dickinson Inc. (HDI) is a diversified, global mining company with a 25-year history of mineral development success. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral properties that provide consistently superior returns to shareholders.
For further details on Heatherdale Resources Ltd., please visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
On behalf of the Board of Directors