/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH A
U.S. NEWSWIRE SERVICE/
PERTH, Western Australia, Sept. 8 /CNW/ - DIORO EXPLORATION NL ABN 31 009
271 532 (ASX/TSX: DIO)
Dioro Exploration NL ("Dioro" or the "Company") wishes to announce that
as a result of a formal request from its 44.85% shareholder, Avoca Resources
Limited ("Avoca") three additional directors have been appointed to the board
of directors of Dioro.
The three new non-executive directors as nominated by Avoca are:
- Mr RG Reynolds - non-executive chairman of Avoca
- Mr RI Williams - managing director of Avoca
- Mr JA Castro - non-executive director of Avoca.
Details of the business profiles of each new director are as follows.
Mr Reynolds is a Chartered Accountant with over 35 years experience in
commerce and practice. He joined Delta Gold Limited as its accountant and
company secretary and became an executive director in 1988. He became a
non-executive director in 1996 and remained as such until the merger with
Goldfields Limited in late 2001. Mr Reynolds jointly oversaw the growth of
Delta Gold Limited from a junior explorer to a medium-size gold mining
Company. His role was corporate planning, overseeing corporate governance and
supervision of administration and financial management.
Mr Williams is Avoca's founding Managing Director and CEO, commencing in
October 2001. Prior to joining Avoca he worked with WMC Resources Limited
where he held Chief Geologist positions at St Ives Gold Mines and Norseman
Gold Operation. He has had over 20 years of experience including over 15 years
in the Higginsville - St Ives/Kambalda - Norseman regions and has built up an
excellent understanding of ore deposits in these regions. Mr Williams'
previous exploration successes include the 1 million ounce Belleisle gold
deposit at St Ives, the Daisy gold deposit at Central Norseman and the Coronet
Nickel mine at Kambalda.
Mr Castro is the Managing Director of Pala Investments AG, the major
shareholder of Avoca and the exclusive investment advisor to Pala Investments
Holdings Ltd., a US$ 1 billion investment fund focusing on the mining sector.
As a long-term partner, Pala leverages its extensive mining and natural
resources sector experience to provide strategic advice and innovative
financing solutions. Prior to founding Pala in July 2006, Mr Castro was Senior
Vice President-Investments and Corporate Affairs for Mechel OAO, a major
Russian mining and metals company listed on the New York Stock Exchange.
The Company's board now consists of executive director, Mr Rhod Grivas,
non-executive independent Chairman, Mr Ted Grobicki and five non-executive
directors, two of whom are deemed to be independent.
As part of its annual corporate governance review the Board intends
updating a number of the Company's governance policies and procedures. These
will be available for inspection on the Company website
Dioro Exploration NL
(signed) "David McArthur"
For further information:
For further information: Dioro Exploration NL, Registered Office: Level
2, 45 Stirling Highway, Nedlands, Western Australia 6009, Telephone (08) 9243
3228, Facsimile (08) 9389 8327, Website: www.dioro.com.au, Postal Address: PO
Box 985, Nedlands, Western Australia 5909