Chief Financial Officer Appointed
Chief Financial Officer Appointed
Perth, Feb 6, 2017 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (OTCMKTS:CRDNF) ("Cardinal" or "the Company") is pleased to announce the appointment of Mr Erik Palmbachs as the Company's Chief Financial Officer.

Mr Erik Palmbachs is a qualified finance professional with over 30 years' experience most of which has been in the mineral resources industry. He has a Bachelor of Business (CPA), Masters in Science (Mineral Economics), is a graduate from the Institute of Corporate Governance and the Institute of Company Directors.

Mr Palmbachs has held senior executive roles for over 20 years and has worked in the gold, copper and iron ore industries, for Australian and African resource companies. His professional career includes over 10 years with St Barbara Mines Limited (ASX:SBM) as CFO and four years as CFO/Company Secretary of successful Western Australia gold miner Catalpa Resources Limited.

During his time as CFO/Company Secretary of Catalpa, Mr Palmbachs was involved with the construction and operation of the Edna May gold mine located in West Australia, the acquisition of 30% of the Cracow Gold mine and the eventual merger into Evolution Mining Limited (ASX:EVN).

Mr Palmbachs has vast experience and a good understanding of the start-up and development environment, project funding and equity raising.

Archie Koimstidis, Managing Director of Cardinal, said:

"We are excited to have Erik Palmbachs join Cardinal's team, it adds yet another highly capable senior executive with international experience to our team. He has considerable qualifications and experience to make a significant contribution to our company.

"Cardinal welcomes Mr Palmbachs to the role of Chief Financial Officer and we look forward to his contribution."

About Cardinal Resources Ltd

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold exploration and development Company that holds interests in tenements within Ghana, West Africa.

The Company is focused on the development of the Namdini Project with a gold Ore Reserve of 5.1Moz (0.4 Moz Proved and 4.7 Moz Probable) and a soon to be completed Feasibility Study.

Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.

Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of 3 April 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.



Archie Koimtsidis
Managing Director
Cardinal Resources Limited
P: +233-26-190-5220
Skype: cardinal.archie

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