VANCOUVER, British Columbia, Feb. 14, 2007 (PRIME NEWSWIRE) -- Irwin Resources Inc. (Pink Sheets:IWRS) Chairman, Werner Grieder announced today that as the Company moves on with its ongoing restructuring, George Stefanopoulos has stepped down from his position as interim President and a new management team has been appointed. Mr. John R Gaetz, a long time Director and past President of the Company has agreed to reassume the positions of President and CEO, Mr. Jason Ashdown has been reappointed Chief Operating Officer and Director, and Mr. Darrell Cho will remain as the Company's Secretary and Director.
"During the past few months the Company was restructured and moved away from all Arizona's oil and gas activities and has taken this time to examine and evaluate opportunities presented for precious mineral properties, and oil and gas properties in other locations", stated Mr. Gaetz, "Considering some of the Company's recent experiences, the Company is doing more due diligence in the evaluation process. Management is currently entertaining a number of interesting opportunities, and look forward to providing our investor with more details if and as any of these are placed under contract."
About Irwin Resources, Inc.:
Irwin Resources, Inc is a junior resource company with offices in Vancouver, B.C., engaged in the acquisition, exploration and development of resources properties with the intent to prove up mineral deposits. Irwin Resources, Inc. seeks out low-risk opportunities to develop positive cash flow from proven and probable resource properties where prior exploration has been successful. The Company plans to grow exclusively through the efficient reinvestment of its internally generated cash flow and through limited external financing, which it plans to utilize to build ancillary businesses.
Safe-Harbor Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.