VANCOUVER, BRITISH COLUMBIA, Mar 13, 2012 (MARKETWIRE via COMTEX) — Citation Resources Inc. (“Citation” or the “Company”) is pleased to announce the appointment of Dr. Paul J. Bartos to the Citation Board of Directors. Dr. Bartos, currently Vice President and Chief Geologist of Esperanza Resources Corp. (“Esperanza”), was responsible for securing the Biricu concessions for Esperanza and is a noted authority on epithermal deposits.
Dr. Bartos was also instrumental in Esperanza’s discovery of the San Luis bonanza vein deposit recently sold to Silver Standard Resources. San Luis represents one of the highest grade precious metal deposits found in recent years. Prior to joining Esperanza, Dr. Bartos was Latin American Exploration and Business Development Manager with ASARCO Inc. Among other accomplishments, he was responsible for the discovery and development of the San Bartolome silver deposit in Bolivia, currently in production by Coeur d’Alene Mines Corp. and now one of the world’s largest pure silver mines. Dr. Bartos is also a director and co-chair of Colibri Resources.
“We are delighted to be adding Dr. Bartos to the Citation Board of Directors,” commented Matthew Watson, President and CEO of Citation. “Dr. Bartos’ technical expertise and familiarity with the Biricu Property will serve to extend the capability of the Board as we focus our activities on the exploration of the Biricu Property. On behalf of the entire Board, I welcome Dr. Bartos and look forward to working with him as the Company advances the Biricu Property.”
The Company’s board of directors has approved the granting of 100,000 incentive stock options to Dr. Bartos in accordance with its stock option plan. The options are exercisable at $0.22 per share for a period of five years.
About Citation Resources
Citation Resources Inc. is a growth-oriented, Canadian mining company dedicated to the exploration and development of precious and base metal resources. Citation is based in Vancouver, British Columbia and aims to create shareholder value through the acquisition, exploration, and development of profitable mineral properties, in a manner that is consistent with best practice in environmental stewardship, safety and stakeholder engagement. The Company has an option agreement with Esperanza Resources Corp. to acquire a 100% interest in the Biricu Property mineral exploration concession located in Morelos State, Mexico. The Biricu Property comprises more than 41,000 hectares of highly prospectable ground and management believes that the Biricu Prospect is the direct on-strike extension of five skarn deposits in the Guerrero Gold Belt (El Limon-Los Guajes – Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay – Goldcorp Inc.; Ana Paula – Newstrike Capital Inc.).
ON BEHALF OF THE BOARD OF DIRECTORS
CITATION RESOURCES INC.
Nigel Kirkwood, CFO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Citation Resources Inc.
Nigel Kirkwood
CFO
604-681-8347
[email protected]www.citationresources.com
