MOD Resources Ltd is pleased to announce the appointment of Mr Julian Hanna as a Non-Executive Director and Technical Consultant to help advance the Sams Creek gold project. Mr Hanna was the Managing Director of Western Areas NL for 12 years before stepping down from that position in January 2012.  He was a co-founder of Western Areas and lead the company during its transformation from a $6 million junior explorer to become Australia’s third largest nickel mining company capitalised at more than $800 million. Mr Hanna is a geologist with over 35 years’ experience in a wide range of activities including project acquisitions, exploration, development, mining and corporate growth.  This includes 15 years in senior management roles with a number of gold mining companies in Western Australia. 

In his new role with MOD, Mr Hanna will provide technical and managerial expertise as the Company moves to step up its exploration programs at Sams Creek.  Sams Creek is New Zealand’s largest undeveloped gold project with an existing JORC compliant resource containing 1.024Moz gold, based on 18.65Mt @ 1.71g/t using a 0.7g/t cut-off. As announced on 21 January 2013, MOD is in advanced negotiations to divest the Company’s Botswana Copper Project, capitalising on increased corporate interest in the Kalahari Copper Belt.  Divesting the Botswana Copper Project will enable MOD to focus on Sams Creek.

MOD’s Botswana Copper Project comprises highly-prospective exploration licences totalling more than 7,800km2 on the Kalahari Copper Belt, directly adjoining licences held by takeover targets Discovery Metals Ltd and Hana Mining Ltd. Having recently completed a review of Sams Creek, Mr Hanna said he was confident of the potential for a significant increase to the existing resource of 1.024Moz gold.  MOD is earning up to 80% of Sams Creek from OceanaGold Corporation, which is the Company’s second largest shareholder.

“I see this as a great opportunity to work with an experienced team of professionals on a gold project which has considerable scope for growth,” said Mr Hanna.  “The latest high-grade drilling results from Sams Creek provide a real insight into that potential.”  MOD’s latest drilling results from Sams Creek  include 29.7 metres @ 3.46g/t gold from 10.3m depth in diamond hole SCMDH030, including 4m @ 7.32g/t and 4m @ 6.61g/t.  Drill hole SCMDH029 intersected 91.7m @ 1.90g/t gold from surface, including 28.7m @ 3.26g/t and 25.4m @ 2.6g/t. While the focus is clearly on progressing Sams Creek, the current market environment should create other growth opportunities for MOD to consider.  Mr Hanna added, “It will also be a pleasure to work at MOD alongside two well-known and vastly experienced gold industry veterans, Miles Kennedy and Simon Lee AO. The reorganisation of the MOD Board has also seen Managing Director Mr Derek Byrne resign from the Board to pursue other opportunities.  The MOD Board thanks Mr Byrne for his efforts and wishes him well with his new endeavours.