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Coniagas Resources Limited: Coniagas Resources Limited Appoints New Director and Enters Into Consulting Agreement

^{Published on 2009-04-08 12:27:15, Last Modified on 2009-04-08 12:27:58 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - April 8, 2009) - Coniagas Resources Limited (the "Company") (TSX VENTURE:CNY) is pleased to announce that Jeffrey A. Pontius has been appointed to the board of directors of the Company. Mr. Pontius has been the President and Chief Executive Officer of International Tower Hill Mines Ltd. since September 2006 and was previously the United States and North American Exploration Manager for AngloGold Ashanti (USA) Exploration Inc.

The Company entered into an investor relations agreement with Robert Orr of Vancouver, British Columbia, subject to acceptance for filing by the TSX Venture Exchange. Under the terms of the agreement, Mr. Orr will provide investor relations services to the Company for a monthly fee of $4,000. The Agreement has a three month term which renews every three months subject to termination by either party with two weeks written notice. Services to be provided to the Company under the terms of the investor relations agreement will include: providing shareholder and investor communications services; assisting the Company in developing and coordinating presentations, brochures, advertising, and other shareholder communications material; introducing and arranging contacts with underwriters, broker/dealers, potential investors, the media and financial analysts; and assisting in the development of appropriate public disclosure documentation.

The Company has granted 300,000 stock options, pursuant to the terms and conditions of the investor relations agreement and the Company's stock option plan, exercisable until April 8, 2011, at an exercise price of $0.45 per share. The options vest as to one third every six months and the shares issuable upon exercise of the options are subject to a four month hold from the date of grant.

The Company also announces the resignation of William Cummins from the board of directors of the Company. The board of directors and management of the Company wish to thank Mr. Cummins for his contribution.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.