Weda Bay Appoints Interim CEO.TORONTO -- Bay Minerals Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :WDA WDA Wireless Digital Assistant WDA Workforce Development Area WDA Welsh Development Agency (UK government) WDA Workforce Development Agency (Singapore) WDA Wildlife Disease Association ) ("the Company") is at an advanced stage of an executive search for the position of President and Chief Executive Officer. This position will be Toronto based to better support our shareholders and liaise with the investment community. The Board of Directors has accepted the resignation of Mr. John Lynch For other persons named John Lynch, see John Lynch (disambiguation). John H. Lynch (born November 25 1952, Waltham, Massachusetts) is the current Governor of New Hampshire. as a Director and as the President and Chief Executive Officer of the Company effective May 31, 2005. Mr. Lynch is leaving to pursue his other business interests in Australia and to make the position available for the Toronto based candidate. Mr. Michael Garvey, Chairman of the Board of Directors of the Company, has been appointed as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. on an interim basis from June 1, 2005 until the Toronto based position is filled. Mr. Lynch, a geologist with a long and distinguished career in the mining industry, was instrumental in discovering and advancing the Company's world class nickel cobalt deposit on Halmahera Island in Indonesia. He was a founding Director of the Company and has been involved with the project for eleven years. The Company has in this time developed the project from a greenfield exploration prospect to one of the world's foremost laterite laterite Soil layer rich in iron oxide and sometimes aluminum, derived from a wide variety of rocks by leaching. It forms in tropical and subtropical regions where the climate is humid. nickel cobalt projects. The Board recognizes Mr. Lynch's significant contribution to the advancement of the Company. Weda Bay Minerals Inc (WDA) is an exploration and development company focused on the world-class nickel and cobalt laterite project on the island of Halmahera in Indonesia. The recently announced increased project resources are 155 million tonnes grading 1.45% Ni and 0.09% Co of measured and indicated resources plus 123 million tonnes grading 1.53% Ni and 0.08% Co of inferred resource. Resource estimates are at a cutoff grade of 1.0% Ni. The Company has completed an independent Pre Feasibility Study, which concludes that the Halmahera project is highly viable. The Company is now working towards the commencement of a Bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. Feasibility Study. WEDA BAY MINERALS INC. R. MICHAEL GARVEY CHAIRMAN OF THE BOARD OF DIRECTORS The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved the information contained herein. Weda Bay Minerals Inc. (TSX:WDA) |
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