Vancouver, British Columbia – April 20, 2012 – Cayden Resources Inc. (TSX-V: CYD) (“Cayden” or the “Company”) is pleased to announce the appointments of David M. Jones and Russell Starr to the Board of Directors.
David M. Jones is a graduate of Dartmouth College and the University of Arizona (M.S. 1987) with over 30 years experience in mineral exploration and project management. As Chief Geologist and Manager of Teck's Nukay Project from 1994-1999, Mr. Jones is credited with the discovery of the Los Filos gold-skarn deposit, which became Mexico's largest gold producer (Goldcorp Inc.) in 2010.
Mr. Jones has published numerous technical articles and is considered to be the foremost expert on Guerrero Gold Belt type deposits. He has worked extensively throughout the Guerrero Gold Belt for clients including Wheaton River, Peñoles, Grupo Mexico, Torex and a number of Canadian juniors.
Russell Starr was the Head of Capital Markets for a boutique Canadian investment bank and has been active in the financial services industry for over 13 years. Mr. Starr has worked for global investment banks and independent boutique investment dealers during his career working both as an equity salesperson/trader as well as in corporate finance. He holds a MBA from the Richard Ivey School of Business and a Master of Economics from the University of Victoria.
Mr. Starr will be joining Cayden as a full time Director and VP Corporate Development, where his extensive background in the public markets will be a significant asset to the Company.
President and CEO, Ivan Bebek states: “We are very pleased to be able to further strengthen our board. David Jones, with his extensive technical background and as an authority on the Guerrero Gold Belt, is a tremendous compliment to our Morelos project that encircles Goldcorp’s Los Filos and El Bermejal mines. Russell Starr’s corporate banking background will add to the Company’s market exposure and enhance future financing efforts.”
To allow room for the new board members, Peter Rees will be resigning from the board of directors, but will be continuing on in the role as Chief Financial Officer and Corporate Secretary.
The Company also reports that, subject to regulatory approval, it has granted 990,000 incentive stock options to directors, officers and employees of the company, exercisable at a price of $1.60 per share for a period of five years from the date of grant. Any shares issued under the option grant will be subject to a four-month hold period from the date of granting, pursuant to the policies of the TSX Venture Exchange.
On Behalf of the Board,
Ivan Bebek, President and CEO
About Cayden Resources
Cayden is a junior mining company focused on delivering shareholder value through the acquisition, exploration and development of precious metal projects located throughout the Americas. The management team at Cayden is highly experienced with an impressive track record of success in the discovery, development and financing of mineral projects. Cayden is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Cayden trades on the TSX Venture Exchange under the symbol “CYD”. For more information on Cayden Resources, please visit our website at www.caydenresources.com.
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