ORI Oriel Res.

    RNS Number : 3010W
  Oriel Resources PLC
  09 June 2008
   



    AIM: ORI
    TSX: ORL
    PRESS RELEASE
    9 June, 2008

    Oriel Resources Plc ("Oriel" or the "Company")

    Director Resignations
    _________________________________________________________________________ _____________

    Oriel Resources plc (AIM:ORI, TSX:ORL) announces that further to the announcement on 17 April 2008 by Mechel OAO, Russia ("Mechel") that
the recommended cash offer made by Mechel for the entire issued and to be issued ordinary share capital of Oriel had been declared
unconditional in all respects, the following members of the Oriel Board of Directors have resigned: Messrs Geoffrey Bush, John Reynolds,
Alexander Nesis, Roger Richer, Neil Woodyer and Ehud Rieger. All resignations are of immediate effect.
    Mr Takhir Baratov remains Executive Director of Oriel whilst during the transition period, Dr Sergey V Kurzin and Mr Nick Clark will
remain as Non-Executive Directors.

    ENDS
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    Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers
of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically
and internationally.

    For further information please contact:

    Alexander Tolkach
Head of International Relations & Affairs Relations, Mechel OAO
Tel: +7 495 221 8888

    Gavin Dallas, Investor Relations, Oriel Resources Plc
    Tel: +44 (0) 20 7514 0590

    Ryan Gaffney, Canaccord Adams Limited
    Tel: +44 (0) 20 7050 6500

    www.orielresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
 
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