Gryphon Resources Reports Highlights of Fiscal 2010
Apache Junction, Arizona – January 12, 2011 – Gryphon Resources Inc. (‘Gryphon’ or the ‘Company’), Over-The-Counter Bulletin Board: GRYO, today reported highlights from its Annual 10K Report for the year ended September 30, 2010 filed with the Securities and Exchange Commission.
“Fiscal 2010 was a very positive year for Gryphon,” said President and CEO Alan Muller, “We developed a strong new management team, acquired promising lithium exploration rights in Arizona and sold our unprofitable subsidiary in Turkey.” Mr. Muller continued, “Additionally, since year end we’ve completed two successful private placements totalling $470,000, which raised cash and cleared all debt from our balance sheet, and have entered a letter of intent to acquire another attractive property in Arizona with gold and copper-porphyry potential.”
Muller concluded by saying, “In combination with these successes, we’ve also engaged an experienced geological project manager in Arizona and have now begun exploration on our lithium properties. Our plans are moving forward quickly and are on schedule. Overall, we’re cautiously optimistic fiscal 2011 will continue to hold goods things for the Company.”
With the conclusion of the fiscal 2010 audit, the Company also affirmed the retention of its senior management team, which is comprised of:
Alan Clive Muller, Pr. Eng, B.Sc. Eng, PMP
Alan Muller was born and raised in South Africa where he was closely associated with the gold mining industry through his father who was the general manager of several major gold mines. This allowed him to gain an insight into the workings of the mining industry and afforded him the opportunity to gain work experience in the mines during several vacation employment stints.
In 1975, Mr. Muller gained an honours degree in Civil Engineering from the University of Natal, Durban, South Africa and became a registered professional Civil and Structural engineer. Mr. Muller also earned a four year Post Graduate Computer Science Diploma in Datametrics from the University of South Africa and a Post Graduate Diploma in Project Management. In 1994, Alan Muller emigrated to New Zealand where he continued to extend his expertise in project management. Over the last 30 years he has managed major construction projects in many fields encompassing health care, commercial developments and infrastructure, these projects have been spread across Southern Africa, the Indian Ocean Islands and for the last 16 years in New Zealand.
Mr. Muller’s employment history includes: September 1999 to Present, Self employed providing project management services to the construction industry; July 1997 to October 1999, Senior Project Manager, Opus International Consultants Limited, Hamilton, New Zealand; May 1996 to July 1997, Self employed providing project management services to the construction industry in the Hamilton, New Zealand region; 1994 to May 1996, Construction Operations Manager, Waikato / Bay of Plenty with Mainzeal Property & Construction; 1990 to 1994, Senior Project Manager, Liebenberg & Stander, Consulting Engineers and Project Managers; 1988 to 1989, Senior Contracts Manager, Ovcon (Natal) Building - Building & Civil Engineering Contractors; 1987 to 1988, Senior Contracts Manager, John Sisk and Sons Building & Civil Engineering Contractors; 1981 to 1986, Site Agent/Contracts Manager, S.M. Goldstein Natal (Civils) Building & Civil Engineering Contractors; 1977 to 1980, Civil Engineer, South African Railways & Harbours New works construction division; 1975 to 1976, Graduate Engineer, De Leuw Cather and Associates - Consulting Engineers.
During his career Alan Muller has managed a long list of major civil engineering and construction projects. Recent examples of his project work is as follows (note: in this list NZ dollars have been converted to US dollars at a rate of 1.00 US$ = 1.31857 NZ$):
Alan Muller Project Management Services:
AUCKLAND ELECTRIFICATION PROJECT - 2010 to Present, Senior Project Manager
Project value: US$455,000
Scope: This project involves acting as the Civil Coordinator across all disciplines of this major infrastructure project.
NEWMARKET STATION AND RAILWAY JUNCTION - 2007 to 2010, Senior Project Manager
Project value: US$56,880,000
Scope: This complex project incorporated all stages of the design and construction of the new Newmarket railway station in New Zealand and the remodelling of the railway junction including the replacement of the Remuera Road and St Marks Road bridges.
NEW ZEALAND INLAND REVENUE GREATER OFFICE AND RECEPTION FITOUT - 2006 to 2007, Senior Project Manager
Client: New Zealand Inland Revenue
Project Value: US$3,800,000
Scope: Design and fitout of office space and public reception areas for the IRD office in Takapuna and Manukau, New Zealand.
AIR NEW ZEALAND CARGO TERMINAL UPGRADE - 2006 to 2007, Senior Project Manager
Client: Air New Zealand
Project Value: US$7,960,000
Scope: Extension and refurbishment of Air New Zealand Cargo’s facilities including new cargo handling equipment and an extensive CCTV security system
INLAND REVENUE GREATER AUCKLAND PROPERTY PROJECT - 2006 to 2011, Senior Project Manager
Client: New Zealand Inland Revenue
Project Value: US$25,790,000
Scope: Identification, procurement, construction liaison and fitout of two new office buildings totalling 25,000 square meters, to house all New Zealand Inland Revenue functions in the greater Auckland, New Zealand area.
Based on his professional experience in managing large complex construction projects, Gryphon expects Mr. Muller's considerable organizational, operational and financial skills will be of significant of value in the development of the Company’s mineral exploration and development projects.
Stephen Philip Sutorius
Mr. Stephen Sutorius was born in New Zealand and currently resides in Australia. He holds a Diploma of Investments from the Open Polytechnic of New Zealand in addition to a Diploma in Financial Services (Australian Securities and Investment Commission RG146). His career has emphasized relationship management with major treasury clients. Mr. Sutorius’ employment history includes: Site Acquisitions and Business Development consulting for property and investment companies in New Zealand and Australia, 2010 to Present; Senior Negotiator, CB Richard Ellis, Wellington, New Zealand, 2005 to 2010; Debt Securities Specialist - 2002 to 2005, Settlements Officer - 2002, and Account Reconciliation Officer - 2001 to 2002, National Bank of New Zealand, Wellington, New Zealand.
Based on his focus and experience in relationship management with major treasury clients, Gryphon expects to benefit from Mr. Sutorius’ knowledge and skills during its fund-raising activities.
About Gryphon Resources
Gryphon Resources Inc. trades on the OTC-BB and Pink Sheets under the symbol GRYO. The Company was incorporated in Nevada in 2006 and has been involved in mineral exploration activities since inception. In 2010, Gryphon acquired the rights to 11 exploration properties in south-eastern Arizona, USA and is currently developing exploration plans for these properties. In November, 2010, Gryphon added to its portfolio of exploration rights by entering a Letter of Intent to acquire the Cruce Property in south-central Arizona which shows potential for gold and copper-porphyry. More information about Gryphon is available on our website: www.gryphonresourcesinc.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue,” "budget," "may," "intend," "estimate," “project” and similar expressions identify forward-looking statements. In this press release, the statements: “.Our plans are moving forward quickly and are on schedule. Overall, we’re cautiously optimistic fiscal 2011 will continue to hold goods things for the Company” ; “Gryphon expects Mr. Muller's considerable organizational, operational and financial skills will be of significant of value in the development of the Company’s mineral exploration and development projects”; and “Gryphon expects to benefit from Mr. Sutorius’ knowledge and skills during its fund-raising activities,” are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
The company´s intent is to invest significant dollars over the next year to complete an economic pre-feasibility study on the L.G. Project to advance the project to the feasibility stage. Phase I of the planned 2011 program will include surface sampling, reconnaissance drilling and metallurgical testing. Phase II will incorporate detailed drilling, a continuation of metallurgical test-work and a pre-feasibility study. Both the first and second phases are expected to be completed by Spring 2013.