Crew Minerals changes name to Intex Resources

Crew Minerals Phils., Inc. has received the approval of the Securities and Exchange Commission (SEC) to change its corporate name to Intex Resources Philippines, Inc. In a statement, Intex Resources said its new name is derived from the words international exploration, which reflects the group’s corporate vision of building a modern international metals and minerals company committed to the highest standards of corporate, social and environmental responsibility.

Intex Resources Philippines, Inc. is the local subsidiary of Intex Resources ASA, a publicly-listed Norwegian company, which debuted in the Oslo Stock Exchange in December 2006 under the name Crew Minerals ASA.

As successor-in-interest, Intex Resources Philippines is the operator and main proponent of Mindoro Nickel, a major laterite-nickel project. According to Intex Resources’ website, the Mindoro nickel project is Intex Resources‘ main asset.

In late 2006, when Crew Minerals Phils. was established and listed as a separate company from Crew Gold Corp., the project was reactivated.

The Mindoro Nickel Project is located on the island of Mindoro, approximately 200 km south of Manila.

The mining concession straddles the border between the provinces of Oriental and Occidental Mindoro. The area has an extensive laterite mineralization, which results from the accumulation of nickel and cobalt in the tropical soil. Golder Associates Pty, Australia estimated the Mindoro mines’ total resource to be 86 million tons with 0.9 percent nickel and 0.07 percent cobalt, sufficient for at least 20 years of operation. Intex Resources is still securing a permit for it Mindoro nickel project.