The Securities and Exchange Commission (SEC) has revoked the registration of the securities of Calais Resources, Inc. pursuant to Section 12(j) of the Securities Exchange Act of 1934. The Commission found that the company violated Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 by failing to file annual and quarterly reports over a period exceeding six years, from 2004 to 2011. Among other things, the Commission observed that the company has shown a “troubling pattern” of complying with regulatory requirements “only when it has concluded that its continued failure to do so will result in significant adverse consequences.” The Commission concluded that revoking the registration of the company's registered securities was necessary or appropriate for the protection of investors.

On 04/16/2012, Calais Resources Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Calais Resources Inc. announced the resignation of Mr. R. David Russell, the previous Chairman and Chief Executive Officer. Mr. Russell is resigning for personal reasons. David K. Young, currently the President, COO and board member, will assume the duties of CEO on an interim basis.