TSX.V Symbol (DMI)
KELOWNA, BC, Sept. 18 /CNW/ - Diamcor Mining Inc. (TSX-V:DMI) (the
"Company") announces that Mr. Dean H. Taylor, the Company's current Chief
Operating Officer, has been appointed by the Board of Directors as President
and Chief Executive Officer to replace Mr. Wayne Wolf who has voluntarily
resigned as Director and President to pursue other opportunities and to enable
the Company to implement management changes recommended by the Board. The
Company wishes to thank Mr. Wolf for his dedication and service.
The Company also announces that it has appointed Mr. Sheldon Nelson to
replace Mr. Wolf as a director on the Board. Mr. Nelson is based in New York
City and has served as President, Chief Executive Officer and, until recently,
Chairman of the Board of MDU Communications International, Inc., a United
States publicly traded Delaware corporation (OTCBB: MDTV) since its start-up
inception in 1998. MDU is a leading provider of communication services to the
residential multi-dwelling unit marketplace and under Mr. Nelson's direction
MDU has become a leader in its industry, attracted and closed four significant
equity placements, established a growth-based credit facility and merged with
and/or acquired the operating assets of eight other companies. Prior to
joining MDU, Mr. Nelson was President of 4-12 Electronics Corporation, a
Canadian based provider of products and services to the cable and satellite
television industries. He is a 1983 graduate of Gonzaga University in Spokane,
Washington where he graduated from the School of Business Administration,
Magna Cum Laude, and was the recipient of the School of Business
Administrations' Award of Excellence. The appointment of Mr. Nelson is subject
to the approval of the TSX Venture Exchange.
Additionally, Mr. Barry Conduit has elected to not seek re-election as a
director of the Company. Mr. Conduit had intended to complete his term as a
director of the Company until the Annual General Meeting originally scheduled
for September 7, 2007 and has elected to tender his resignation in advance of
the re-scheduled Annual General Meeting to be held on October 5, 2007. The
Company wishes to thank Mr. Conduit for his many contributions.
Pending receipt of TSX Venture Exchange approval and a written consent to
act in respect of Mr. Nelson's appointment, the Board of Directors of the
Company will be comprised of Mr. Taylor (Chairman), Dr. Stephen Haggerty,
Mr. Darren Vucurevich and Mr. Sheldon Nelson. The composition of the Company's
Audit and Compensation Committees will be reviewed after the Annual General
Meeting to be held on October 5, 2007.
About Diamcor Mining: Diamcor Mining is a junior resource company with
established operations and production history in South Africa. The Company is
determined to use this established operating history and industry knowledge to
increase its current production of diamonds through the development and or,
acquisition of additional quality properties in the region.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Mr. Dean H. Taylor, Chief Executive Officer,
Diamcor Mining Inc., Email: DTaylor@Diamcormining.com, Phone: (250) 864-3326,