VANCOUVER, Feb. 21, 2014 /CNW/ - Tanzania Minerals Corp.
(TSXV: TZM) (the "Company") wishes to announce its recent
corporate developments.
The Company wishes to put forward its corporate
objectives for 2014. Kal
Matharu has stepped down as an officer and director of the
public company, and will focus on the Company's projects at an
operational level in Tanzania,
where he will continue as the executive chairman of the Company's
Tanzanian subsidiary, Tansmin Resources (T) Ltd. Robert Dzisiak has assumed the role of CEO and
James Walchuck has become the
Chairman of the Board.
The Company's operational focus for 2014 will be
to continue advance its current licence portfolio, systematically
relinquish licences determined to no longer be a priority for the
Company and continue to seek out an advanced stage asset to
acquire.
Following the Company's 2013 programme to
complete ground survey and initial soil sampling work within all
its licences beyond the Mrangi project in order to start assessing
its licence portfolio in Tanzania,
the Company plans to continue to further advance its licenses at
Nyamwaga and Siga. In 2013, the management also dedicated
considerable time reviewing potential targets for acquisition, in
particular advanced stage assets existing within Tanzania. This culminated with the
Company entering into a letter of intent to acquire an interest in
the Ikungu project owned by MDN Inc. (announced on October 15, 2013), which ultimately did not
proceed but the Company intends to keep reviewing opportunistic
strategic growth alternatives in 2014.
Neither the TSX Venture Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
This news release includes forward-looking
statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to
be considered forward looking. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove accurate
and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. We do not assume any obligation to update
any forward-looking statements except in accordance with the
applicable law.
SOURCE Tanzania Minerals Corp