Clive Jones appointed Graynic chairman

Cazaly Resources managing director Clive Jones has been appointed as non-executive chairman of Subiaco-based Graynic Metals, taking over from Ivan Hoffman who has resigned for personal reasons.

The announcement is below:

Australian exploration company Graynic Metals Limited (ASX: GYN) (Graynic) is pleased to announce the appointment of experienced mining company executive Mr Clive Jones as Non-Executive Chairman of the Company.

Mr Jones will take up the role with immediate effect after the resignation of Mr Ivan Hoffman. Mr Hoffman has resigned for personal reasons.

Mr Jones brings considerable experience to the position of Non-Executive Chairman and has been a board member of Graynic since the Company's listing in June 2005. Mr Jones is currently joint Managing Director for Cazaly Resources Ltd and is also Chairman of Cortona Resources Limited and a Director of Bannerman Resources Limited all of which are ASX-listed companies.

Graynic currently has $1.7 million in cash reserves and is continuing to assess project opportunities in line with the Company's stringent selection criteria to provide the best outcome for shareholders.

The Board would like to thank Mr Hoffman for his contribution to Graynic since his appointment in October 2005.