W Resources appoints Pablo Neira and Jim Argalas to its Board as Non-Executive Directors

– UK, London – W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, today announced the appointment of Pablo Neira and James Argalas as Non-Executive Directors of the Company, who will join the Board with immediate effect.

Pablo Neira brings over 30 years of international experience specialising in managing listed industrial manufacturing companies and family office direct investments in Spain and internationally. He is currently with Casa Grande de Cartagena, S.L.U. family office of significant shareholders of Ferrovial S.A. involved with direct investments. Pablo was CEO of Urbar Ingenieros SA, a listed industrial group that manufactures equipment for multiple sectors, including raw materials, minerals and quarries; as well as turn-key waste treatment plants. Prior to Urbar, Pablo was Corporate Services General Manager at Valdepesa Textil, a global retail textile PE backed company, and Finance Director at Global Steel Wire Group, a Madrid listed steel wire rod manufacturer. Prior to joining Global Steel Wire Group, he was Manager at A.T. Kearney in New York and at the Swedish group Mölnlycke as Controller for southern Europe. Pablo has broad-based experience of managing operations across international and cultural boundaries and brings in depth finance experience under listed companies. He holds a BA in Economics from Universidad Complutense in Madrid and a Harvard MBA. He is a professor at IE Business School.

James (“Jim”) Argalas has extensive experience in the financial and investment sectors. James is also based in Madrid and is currently a director of BOFI Holding Inc, a publicly traded branchless bank listed in the NASDAQ with a market cap of US$2.3 billion and Presido Union LLC. In 2006, he founded Presidio Union, LLC, a company that specialises in providing financial analysis and corporate advisory services to early stage growth companies and their investors, taking an active role in developing ventures that have the potential to create significant shareholder value. Prior to founding Presidio Union, James was a Principal at Watershed Asset Management and NM Rothschild, where he was responsible for investments in the resource and financial services sector. Prior to Watershed, James was an Associate Principal with McKinsey & Company and an Associate at Goldman Sachs. With a Master of Business Administration degree from Kellogg Graduate School of Management (Northwestern University) with majors in Finance, Entrepreneurship and International Business. James also holds a Bachelor of Science degree in Engineering from the University of Michigan, and a Bachelor of Science degree in Foreign Service from Georgetown University.

Michael Masterman, Chairman of W Resources, commented: “As W Resources transitions to a significant tungsten producer, the appointment of Pablo Neira and James Argalas to the Board comes at a time when their significant industrial and financial experience will provide valuable counsel, insight and support and we welcome them to the Board and look forward to working with them. Both James and Pablo are based in Madrid and bring real time Spain based networks and financial and operational capability to the W Resources team”.

For more information : http://www.wresources.co.uk

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