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Silver Shield appoints Kordy interim CEO, CFO

2015-03-04 18:12 ET - News Release

Mr. Frank Kordy reports

SILVER SHIELD RESOURCES APPOINTS MR. FRANK KORDY INTERIM CEO & CFO, PROVIDES A CORPORATE UPDATE, ANNOUNCES THE APPOINTMENT OF MR. TYLER BURPEE TO THE BOARD OF DIRECTORS, AND THE RESIGNATION OF MR. RAY LASHBROOK AS A DIRECTOR.

Silver Shield Resources Corp., effective immediately, has appointed Frank Kordy, interim chief operating officer (COO), to serve as both the chief executive officer and chief financial officer of the corporation on an interim basis.

Since his appointment to the board back in December of 2013, Mr. Kordy has worked closely with Silver Shield Resources board of directors to execute the company's strategic objectives as outlined at the corporations 2013 annual general meeting. Mr. Kordy has been serving as lead director, on behalf of the corporation, and has been the driving factor in the corporation getting its financials up to date, and resolving the regulatory compliancy issues that the corporation currently is under.

Currently, the corporation's 2013 audited financials are now completed, and the corporation intends to file onto SEDAR its 2013 audited financial statements, its 2014 first-quarter to third-quarter interim financial statements, and all of the accompanying management discussion and analysis for all of the aforementioned financial statements within the next few business days. Furthermore, once the financial statements are filed onto SEDAR, the corporation has prepared, and will submit, applications for the revocation of the current cease trade orders, which are currently levied onto the corporation in the jurisdictions of Ontario, Alberta and British Columbia.

Although the corporation is confident that the aforementioned securities exchange commissions will grant the corporation revocation of the current cease trade orders, and that the TSX Venture Exchange will grant reinstatement of trading of the corporation's common shares on the NEX board, there are no guarantees, and any approval for revocation and reinstatement is solely at the discretion of the aforementioned securities exchange commissions and the TSX Venture Exchange.

The board of directors also announced today the resignation of Ray Lashbrook as a director and, effective immediately, the appointment of Tyler Burpee as an independent director to the board.

Mr. Burpee's professional career includes merchant banking with a Toronto resource-focused merchant bank. Previously he was vice-president, corporate development, for Levon Resources, a late-stage publicly listed gold exploration company with operations in Mexico. Mr. Burpee also has over 13 years experience working with large financial services firms in investment banking, structured product and portfolio management departments. The corporation would like to thank Mr. Lashbrook for his years of service and wishes him well in his future endeavours.

Mr. Kordy stated: "I'm very pleased to have met the professional contacts that I have met over the course of the last six months as all of our new professional partners have experience in mining in Mexico, corporate financing, merchant banking, restructuring and the [initial public offering]/[reverse takeover] process. These contacts -- Mr. Burpee being one of them -- have presented Silver Shield Resources new avenues in helping implement the strategic business options presented at our 2013 AGM with the sole focus of providing the shareholder value."

We seek Safe Harbor.

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