Fred Tejada Appointed as CEO of Tirex Resources Ltd.
7
488-1090 West Georgia St. Tel: 604-687-7 130 www.tirexresources.com
Vancouver B.C. [email protected]
Canada V6B 1L8 TXX: TSX-V
July 18, 2017 - NR 06-2017
NEWS RELEASE
Fred Tejada Appointed as CEO of Tirex Resources Ltd.
Tirex Resources Ltd. (“Tirex”) is pleased to announ ce that Mr. Fred Tejada has been appointed Chief
Executive Officer (“CEO”). Mr. Tejada, a current Direct or and President of Tirex, will vacate the role of
President and will assume the role of CEO.
Mr. Tejada has over 30 years of international minera l industry experience and has a proven track record,
working with both major international mining companies and exploration focused organizations.
For seven years, Mr. Tejada was Country Manager a nd President of Philippine subsidiary companies of
Phelps Dodge Exploration Corporation ("Phelps D odge"). While with Phelps Dodge, Mr. Tejada was
responsible for corporate matters and exploration activities from project generation, property acquisitions and
permitting. In this role, he led th e acquisition of 100% ownership of mi neral rights over Mountain Mines in
Batong Buhay and Taysan copper deposits , deposits with known historical resources. Prior to joining Tirex
he was Vice President Exploration of Panoro Minerals Ltd. where he dir ected the resource definition drilling
of its two major copper projects in Peru.
Mr. Tejada is a Registered Professional Geoscientist (P.Geo) of the Association of Professional Engineers
and Geoscientists of British Columbia (APEGBC) and a member of several professional societies. Prior to
his appointment as CEO, Mr. Tejada held the position of President of Tirex Resources and prior to that, Vice
President of Operations and Exploration at Tirex.
Mr. Spiro Kletas has resigned as CEO of Tirex and has resigned from the Board of Directors to pursue other
business opportunities and the company thanks him for service to Tirex during his tenure as CEO and wishes
him the best in future endeavours.
The Tirex financing first announced on February 15, 2017 and subsequently extended, did not close and will
not be proceeding.
Tirex has recently received a proposal to fund the company’s work plans at the Rehova Project via an earn-in
agreement with a Canadian public co mpany, subject to various terms and conditions. In part, this funding is
conditional on Tirex receiving approval of the various terms from the European Bank for Reconstruction and
Development (“EBRD”). Tirex has requested approva l from the EBRD, but approval has not yet been
granted and there is no assurance that the EBRD will approve this funding proposal.
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On behalf of Tirex Resources
Fred Tejada, P.Geo
Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsib ility for the adequacy or accuracy of this news
release.
Forward-Looking Statements. This Tirex News Release may contai n certain "forward-looking" statements
and information relating to Tirex. Often forward-looki ng statements or information include words such as
"plans", expects", "intends", "anticipates", "estimates" "forecasts", or variations of such words and phrases or
statements that certain actions, events or results "may ", "could", "would", "might" or will be taken occur or
be achieved. Although forward-looking statements and information contained in this release are based on the
beliefs of Tirex management, which we consider to be reasonable, as well as assumptions made by and
information currently available to Tirex manageme nt, there is no assurance that the forward-looking
statement or information will prove to be accurate. Funding for Rehova may not be approved by the EBRD
and if approved, may not complete for other reasons . The forward-looking statements and information
contained in this release are subject to current risks, uncertainties and assumptions related to certain factors
including, without limitations, obtaining all necessary a pprovals, feasibility of mine and plant development,
exploration and development risks, expenditure and financing requirement s, title matters, operating hazards,
metal prices, political and economic factors, competitiv e factors, general economic conditions, relationships
with vendors and strategic partners, governmental regulation and supervision, seasonality, technological
change, industry practices, and one-time events as well as risks, uncertainties and other factors discussed in
our quarterly and annual and interim management's discu ssion and analysis. Should any one or more of these
risks or uncertainties materialize or change, or s hould any underlying assumptions prove incorrect, actual
results and forward-looking statements and informati on may vary materially from those described herein.
Accordingly, readers should not place undue relian ce on forward-looking statements and information
contained in this release. We undertake no obligation to update forward-looking statements or information
except as required by law. Tirex has not verified hi storical resources at Rehova and has not reviewed the
assumptions, parameters and methods used to prepare th e historical resource estimate. No Qualified Person
has done sufficient work to classify Rehova historical estimates as current and Tirex is not treating the
historical estimates as current mineral resources or reserves but considers them as historically relevant and
material information. A feasibility study has not been completed at Rehova and there is no certainty that
proposed operation will be economically viable or will commence.