VANCOUVER, Aug. 19 /CNW Telbec/ - INTERNATIONAL BARYTEX RE
("the Company") (TSX-V: IBX) is pleased to announce the appointment of
Mr. David Newton as Director of Operations. Mr. Newton will report directly to
Mr. Alf Hills, Chief Executive Officer.
Mr. Newton has had a long career as a General Manager at a number of mine
operations in Asia, Europe and Africa, most recently as General Manager at
Anvil Mining's Dikulushi mine in the Democratic Republic of Congo ("DRC").
Alf Hills, CEO states, "We are pleased to have David come on board to
direct the development of the Shituru project. He has extensive operations
experience in difficult environments and his DRC operating experience is a
huge asset to the Project. With the Shituru Feasibility Study being completed
it is time to start increasing our capability to build and operate a mine in
the DRC. David's appointment is a key component to our strategy to realize the
full value of Shituru."
Project Update. The Feasibility Study will be delivered to the
state-owned partner in the Shituru Project, Gecamines in Q3-08. The timeline
for delivering the study has been tight and Feasibility Study work indicates a
number of areas of upside. The Company intends to pursue further optimization
as part of the project engineering design phase of the project. Some
optimization work is being carried out in parallel with the Feasibility Study.
The Feasibility Study takes advantage of the low acid-consuming, higher
grade ore that represents the majority of the deposit by processing this
material during the early years of operation. In addition to better grade,
this ore has better metallurgy, lower operating cost, and requires a simple
process plant; all of which reduce project risk.
Environmental & Social Impact Assessment work is scheduled for completion
in Q3 with a submission to the government to follow. Community consultation
work carried out as part of the field work will form the basis for development
of meaningful social programs for Likasi, an urban setting.
Following the signing of an MOU, meetings have started on negotiating the
supply of electricity to the project.
On the matter of the Mining Contract Review, as previously reported the
Shituru project has been classified as a category B contract with a
recommendation that certain aspects of the agreement be revisited. The company
expects Gecamines will schedule a meeting within the next several weeks to
discuss the contract and looks forward to concluding this process which has
created considerable uncertainty relating to DRC mining properties.
On behalf of the Board of Directors
President and Director
Some statements in this news release contain forward-looking information.
These statements address future events and conditions and, as such, involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different from
any future results, performance or achievements expressed or implied by the
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release
For further information:
For further information: International Barytex Resources Ltd.: Mitchell
Smith, Investor Relations; Leo King, President; Alf Hills, CEO, (604)
688-9368, Fax: (604) 688-9336; Renmark Financial Communications Inc.: Jen
Power, email@example.com; Dan Symons, firstname.lastname@example.org;
Montreal: (514) 939-3989, Fax: (514) 939-3717; Toronto: (416) 644-2020, Fax: