WYN DEVELOPMENTS APPOINTS DAVID MCMILLAN PRESIDENT AND CEO, AND MARC TRAN AS CHIEF FINANCIAL OFFICER
Vancouver, British Columbia, Canada - June 05, 2006 - Wyn Developments Inc. ("Wyn Developments" or the "Company") is pleased to announce the appointment of David McMillan to President and CEO. McMillan has been a Director of the Company for the past three years, and has made significant contributions towards the Company's current potential. Mr. McMillan was an investment advisor from 1983-2000, of which 1987-2000 was spent at Yorkton Securities Inc. From 1992-2000 McMillan served as Director and Vice President of Yorkton and from 1995-2000 he was Senior Vice President responsible for Retail Sales from the Vancouver office. Since 2000, McMillan has acted as a consultant and advisor to venture companies and is currently President and CEO of Sonora Gold Corp. (TSX: SGG), and Secretary and Director of TTM Resources Inc. (TSX: TTQ). Former President and CEO Daniel Kesonen will continue to serve the Company as Chairman of the Board and liaise between the Vancouver office and investors across North America and Europe. The Company thanks Daniel Kesonen for his contributions as President and CEO.
In addition, the Company would like to announce the appointment of Marc Tran as Chief Financial Officer. Tran holds a Bachelor of Commerce in Finance, a Bachelor of Science in Economics and is currently working on his CGA designation. He has been working in finance and accounting since 1999 in the oil and gas, service and mining sectors, and is currently Chief Financial Officer of TTM Resources Inc. (TSX:TTQ) and Corporate Secretary of Sonora Gold Corp. (TSX:SGG). Tran replaces Ronald Jorgensen who resigned as Director and Chief Financial Officer effective May 31, 2006. The Company thanks Mr. Jorgensen for his past contributions.
About Canada Rare Earths
Canada Rare Earths is a growth company focused on the exploration and development of rare earth elements at its 100% owned Goeland Rare Earths Project within the Montviel carbonatite complex, Montviel Township Quebec, immediately adjacent to Geomega's (TSX-V: GMA) recent rare earth discovery. The Goeland property located 215 km north of Val-d'Or, is road accessible and consists of 47 claims totaling approximately 2,600 hectares. Since the acquisition of the Goeland Project, the Company, in a short period of time, has successfully established itself in one of the largest Carbonatite complexes in North America. Worldwide, carbonatite-related deposits are a major host for rare earths elements ("REE"). The world's most advanced and prolific REE deposits in production or development, Bayan Obo (China), Molycorp's Mountain Pass (USA), Lynas's Mount Weld (Aus), and Rare Earth Element Resource's Bear Lodge project, are all hosted by carbonatites.
For more information on Canada Rare Earths, please contact our Head Office.
On Behalf of the Board of Canada Rare Earths Inc.
Chad McMillan
President & CEO
Neither 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. All of the above is subject to TSX.V and regulatory acceptance.
FORWARD LOOKING STATEMENTS
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Company's Pre-Development Agreement and the exploration of the Goeland Project, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required government or other regulatory approvals and any required financing to complete the Company's obligations pursuant to the Pre-Development Agreement and planned exploration activities, that the Company is able to procure equipment and supplies in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Canada Rare Earth's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, uncertainties involved in the interpretation of drilling results and geological tests, delays in obtaining required government or other regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdowns and bad weather. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Canada Rare Earths does not intend, and expressly 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 law.
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