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CLIFFS NOMINEE LEAVES KWG BOARD
Montréal, Québec – May 24, 2010 / - Richard P. Fink tendered his resignation as a Director of KWG Resources late on Friday afternoon May 21, 2010. The Company’s Board has appointed Cynthia Thomas to fill the vacancy. Ms. Thomas is Chair of the Board of Victory Nickel Inc. and has 28 years of banking and mine finance experience, and currently acts as principal of Conseil Advisory Services Inc. ("Conseil"), an independent financial advisory firm specializing in the natural resource industry which she founded in 2000. Recent mandates include providing strategic advisory services to Mercator Minerals, Luna gold, Aquila Resources, Capstone Mining, Sherwood Copper and Xstrata Nickel and Yukon Zinc. Prior to founding Conseil, Ms. Thomas worked with Bank of Montreal, Scotiabank and ScotiaMcLeod in the corporate and investment banking divisions.
The KWG Board of Directors has appointed Ms. Thomas as Chair of a special committee to consider a takeover bid proposal. The other members of the special committee are Bruce D. Reid and the Board’s Chairman René R. Galipeau.
About KWG Resources Inc.
KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chromium have been made recently in the Ring of Fire. KWG has an equal participating interest in a large claim block in the central part of the discovery area, with Spider Resources Inc. The co-optionees are developing the Big Daddy Chromite Deposit adjacent to the Black Thor and Black Label chromite discoveries of Freewest Resources Canada Inc. In addition, KWG holds a 1% net smelter royalty in all three prospects and has created Canada Chrome Corporation to pursue the development of themby identifying export markets and their transportation requirements.
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For further information, please contact:
Bruce Hodgman, Communications Director (416) 646-1374
info@kwgresources.com
Or visit our website: www.kwgresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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