TORONTO, Feb. 10, 2012 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the
"Company") (TSX: ANX) is pleased to announce certain changes to its
board of directors. Effective immediately, the Company has accepted the
resignations of John McBride, Glenn Kosick, Thomas Pladsen and David
Wiley. Concurrent with these resignations, Michael Byron, Chief
Geologist of Merc International Minerals Inc., and Maruf Raza, partner
at Collins Barrow Toronto LLP, have been appointed to the board,
resulting in a five-person board.
President and CEO of Anaconda, Dustin Angelo, stated, "I'd like to thank
John, Dave, Glenn and Tom for their contribution to Anaconda. They were
instrumental in helping the management team navigate our operational
and financial challenges over the last few years. Now that we have
turned the corner, it is time to augment the board composition to have
a wider range of skill sets including geology, mill processing,
operations, capital markets and accounting. By adding Mike and Maruf
and reducing the number of board members, the board has that wider
range of expertise and is more streamlined. We are very pleased that
they have joined the Anaconda team. I believe, with their experience
and background, they will make significant contributions to the Company
and help us execute on our strategy going forward."
Overview of New Directors
Michael Byron has more than 26 years of domestic and international
experience in research, field work, and senior management in gold, base
metal, magmatic nickel and PGE, REEs and uranium, diamond, and gemstone
exploration, spanning employment within the mineral exploration
industry, government, and educational institutions. He is a
professional geoscientist registered in Ontario and the Northwest
Territories, and holds advanced degrees in Geology including a PhD from
Carleton University of Ottawa, Ontario.
Prior to Merc International Minerals, Dr. Byron served as Vice President
of Exploration at Lake Shore Gold Corp. and Aurora Platinum Corp. where
he was instrumental in advancing both companies from initial startups
to successful enterprises culminating in the sale of Aurora Platinum to
FNX Mining Company Inc. and the resource expansion at Lake Shore that
eventually led to the development of its Timmins West Gold Mine.
Maruf Raza is a Partner at Collins Barrow Toronto LLP. Mr. Raza has over
10 years of experience in professional practice, and has specialized in
providing assistance to companies in the public markets and in helping
private companies become public either through direct IPOs or through
reverse mergers. A significant portion of his practice is in the
mining and oil and gas sectors, ranging from exploration stage to
As one of Collins Barrows IFRS thought leaders, he has assisted a number
of mining companies in the US and Canada with their IFRS convergence
process. He is currently a member of the Canadian Institute of
Chartered Accountants' IFRS Discussion Group and is on the
Ontario Securities Commission's Financial Reporting Advisory Committee
as well as its Small Business Advisory Committee. Mr. Raza has also
spoken on behalf of the Toronto Stock Exchange as part of its US road
Headquartered in Toronto, Canada, Anaconda is a growth oriented, gold
mining and exploration company with a producing operation located on
the Baie Verte Peninsula in Newfoundland, Canada called Pine Cove mine.
FORWARD LOOKING STATEMENTS
This document contains or refers to forward-looking information. Such
forward-looking information includes, among other things, statements regarding targets, estimates and/or
assumptions in respect of future production, mine development costs,
unit costs, capital costs, timing of commencement of operations and
future economic, market and other conditions, and is based on current
expectations that involve a number of business risks and uncertainties.
Factors that could cause actual results to differ materially from any
forward-looking statement include, but are not limited to: the final
approval of the private placement by the Toronto Stock Exchange; the
grade and recovery of ore which is mined varying from estimates;
capital and operating costs varying significantly from estimates;
inflation; changes in exchange rates; fluctuations in commodity prices;
delays in the development of the any project caused by unavailability
of equipment, labour or supplies, climatic conditions or otherwise;
termination or revision of any debt financing; failure to raise
additional funds required to finance the completion of a project; and
other factors. Additionally, forward-looking statements look into the
future and provide an opinion as to the effect of certain events and
trends on the business. Forward-looking statements may include words
such as "plans," "may," "estimates," "expects," "indicates,"
"targeting," "potential" and similar expressions. These forward-looking
statements, including statements regarding Anaconda's beliefs in the
potential mineralization, are based on current expectations and entail
various risks and uncertainties. Forward-looking statements are subject
to significant risks and uncertainties and other factors that could
cause actual results to differ materially from expected results.
Readers should not place undue reliance on forward-looking statements.
These forward-looking statements are made as of the date hereof and we
assume no responsibility to update them or revise them to reflect new
events or circumstances, except as required by law.
SOURCE Anaconda Mining Inc.
For further information:
Anaconda Mining Inc.
President and CEO
Company website: www.anacondamining.com