Trading Symbol: RMC
CALGARY, Aug. 12 /CNW/ - The Company is pleased to announce the
appointment of Juliano Magalhaes Macedo, Ph.D as president of our wholly owned
subsidiary, RMC Exploracao Petrolifera Ltda., in Brazil. Dr. Macedo holds a
Ph.D in Structural Geology and Tectonics, University of Illinois, USA and both
M.Sc. Structural Geology and a B.Sc. Engineering Geology, Escola de Minas,
Before starting his own consulting company Dr. Macedo worked 18 years for
Petrobras, from 1982 to 2000. In 1997, while still with Petrobras, his main
responsibilities were to develop new joint ventures with foreign companies,
onshore and in the deep-water region of Santos and Potiguar basins, and he
achieved the proposed results in both basins. Recently he has assisted several
companies to identify potential prospects and to coordinate the execution of
the exploratory program in a total of 55 blocks in Potiguar and
Sergipe-Alagoas Basins. From the work of his group, resulted a few
partnerships with other companies and discoveries in the Potiguar Basin.
Dr. Macedo has also been responsible for the development of integrated
petroleum system projects in Brazilian basins in a multi-client mode and in
Mexican basins in a proprietary mode. The main projects included oil and
source rock studies, onshore and offshore surface geochemistry, reservoir
geochemistry, basin analysis, petroleum systems quantitative modeling, and
exploration block assessment. Dr. Macedo has also been responsible for
identifying, selecting and developing projects alone or in partnerships in
Venezuela, Ecuador, Columbia, Libya and the country of Angola. Dr. Macedo has
extensive international experience.
"We welcome Juliano as president of our Brazilian subsidiary. Juliano's
wide-ranging industry experience, in particular in the field of identifying
potential projects and coordinating their exploration, will prove valuable
toward our goal of rapid growth in Brazil," commented Bernard Chamberland,
Chairman and CEO.
Subject to obtaining approval from the exchange, the Corporation will be
granting Dr. Macedo an option to purchase 275,000 common shares of the
Corporation at a price of $0.20.
In accordance with TSX Venture Exchange Policy 2.5, Rich Minerals
Corporation has not maintained the requirements for a Tier 1 company.
Therefore, effective Tuesday August 12, 2008, the company's tier
classification will change from Tier 1 to Tier 2.
About Rich Minerals Corporation
Rich Minerals Corporation is qualified as an on-shore operator and was a
successful bidder on two oil and gas concessions in the 9th round of auctions
held in Brazil, November, 2007. The company is currently outlining its 2008 -
2009 work program on the concessions awarded in the Potiguar Basin.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Corporation: Rich Minerals Corporation: Debra
Senger, 4100 6A Street N.E. Calgary, Alberta, T2E 4B1, Telephone: (403)
531-9100, Fax: (403) 531-9699, Email: email@example.com; Investor Relations:
Anderson Financial Marketing: Christopher R. Anderson, Telephone: (403)
668-7693 or (604) 628-7065, Email: info@AndersonFinancialMarketing.com