Mineral Hill Industries Ltd. - Corporate Update

Trading Symbols:

TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF

VANCOUVER, July 16, 2012 /CNW/ - Mineral Hill Industries Ltd. (the "Company") wishes to announce that at its recently held Annual General Meeting (the "AGM"), Messrs. Rafael Pinedo, Hugh Maddin, Andrew H. von Kursell, Grant Hendrickson, David Jackson and Dieter Peter were re-elected directors and Davidson & Company LLP were re-appointed as the Company's auditors.

The Company's shareholders passed the resolution approving and ratifying the number of shares reserved for issuance under the Company's stock option plan to be 2,010,407 shares. The disinterested shareholders also passed a resolution to approve a limit of 10% on grants of stock options to insiders and employees under the Stock Option Plan.

At the board meeting held immediately after the AGM, the following officers and committee members were appointed:

Officers
President & CEO
Chief Financial Officer
Vice President, Treasurer & Corporate Secretary
 
Dieter Peter
Jayram Hosanee
Josephine See
   
Audit Committee
Andrew von Kursell, Chairman
Hugh Maddin
Rafael Pinedo
Corporate Governance & HR Committee
Andrew von Kursell, Chairman
Hugh Maddin
David Jackson
   
Exploration Committee
Andrew von Kursell, Chairman
Grant Hendrickson
Bruce Purcell
Environmental and Safety Committee
Andrew von Kursell, Chairman
David Jackson
Bruce Purcell
 
Advisory Committee
Dr. Stewart Jackson
Bruce Purcell

The Company also granted an aggregate of 759,500 incentive stock options to its officers, directors and employees at an exercise price of $0.16 per share.  These options are granted for a three-year period and the grant is subject to vesting provisions.

The Company expressed regrets that Mr. Jayram Hosanee, Chief Financial Officer has resigned from the Company to pursue his career objectives. The Board of Directors and Management acknowledged his contributions as a resourceful and strategic thinker and a valuable asset of the management team and wish him the best for his future endeavours.

The Company also wishes to announce that Mr. Michael Zhu will be joining the Company to replace Mr. Hosanee. Mr. Zhu is a Chartered Accountant with more than 14 years of public companies experience in various Canadian accounting firms.  He has also worked as research analyst for overseas financial institutions.  He graduated from Information & Electronic Engineering department in Zhejiang University with an Optoelectronic Technology major.  The Company is looking forward to the addition of Mr. Zhu to its management team.

About Mineral Hill Industries Ltd.

Mineral Hill Industries Ltd. is a Canadian based mineral exploration company trading on the TSX Venture Exchange (MHI), the Frankfurt Exchange (N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF). Mineral Hill has accumulated a diversified portfolio of lithium and precious metal properties. Although the Company's determination to develop its promising lithium exploration projects will remain a focal point, Mineral Hill will accelerate its new gold mining projects with early production opportunities concurrently with attracting a strong management team.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


 

 

SOURCE Mineral Hill Industries Ltd.

For further information:

For more information on Mineral Hill Industries Ltd. and its projects, please visit the Company's website at www.mineralhill.com, or contact:

Dieter Peter
President and CEO
Mineral Hill Industries Ltd.
Telephone: (604) 685-4170
Email: dpeter@3xgmm.com  


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