VANCOUVER, Jan. 10 /CNW/ - Goldgroup Mining Inc., TSX:GGA, ("Goldgroup"
or the "Company") is pleased to announce the appointment of Dr. Paul
Zweng to the Board of Directors.
Dr. Zweng has successfully blended a technical and financial background
in exploration and mining over the past 25 years. Currently Dr. Zweng
is a founder and managing member of Resource Venture Advisors, LLC, the
general partner to Resource Venture Partners, LP, a private investment
partnership designed to invest in early-stage exploration companies of
which Goldgroup Mining is a significant holding of the fund. Dr. Zweng
is currently interim CEO and a Director of Bellhaven Copper and Gold
From February 2003 until September 2008, he was the COO and then
President/CEO of TSX listed QGX Ltd, a company with mineral projects in
Mongolia. Under Dr. Zweng's leadership, QGX developed the Baruun Naran
coking/thermal coal project into a 253 Mt resource. In September 2008,
QGX was acquired by The Kerry Group (Hong Kong) for C$270 million.
In 2004, Dr. Zweng, along with two others, founded Antares Minerals Inc.
(TSX-V:ANM ), a Canadian junior exploration company with projects in
Peru and Argentina. Antares' flagship project, Haquira, was developed
into an asset supporting a production profile of 8.3 B lbs Cu, 97 M lbs
Mo, 522 K oz Au, and 24.3 M oz Ag over 20 years. The company was later
acquired by First Quantum Minerals Ltd. in 2010. At the time of the
close, December 16, 2010, the deal was valued at C$610 million.
Dr. Zweng received two B.Sc. degrees with distinction in Geology and
Applied Earth Sciences (Mineral Economics) from Stanford University
(California), a M.Sc. degree in Geology from Queen's University
(Ontario) and a Ph.D. in Applied Earth Sciences (Ore Deposits) from
Stanford University (California).
Gregg Sedun, Executive Chairman stated: "We are very pleased to have Dr.
Zweng on the board of Goldgroup. He has established himself in the
mining industry with an impressive record and to have someone with his
background and experience will contribute significantly to our
Goldgroup is a Canadian-based gold production and exploration Company
focused exclusively on Mexico, targeting growth in gold production,
mineral resources, profitability and cash flow from a portfolio of
production, development and exploration stage projects. Goldgroup is
led by a team of highly successful and seasoned individuals with
extensive expertise in exploration, corporate finance and mine
development in Mexico.
The Company owns and operates the Cerro Colorado Gold Mine in Sonora,
Mexico. The Company's property portfolio also includes its interests in
the Caballo Blanco project in Veracruz and the San José de Gracia
high-grade gold project in Sinaloa.
Neither the Toronto Stock Exchange nor its Regulation
Services Provider (as that term is defined in the policies
of the Toronto Stock Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release and the information contained herein does not
constitute an offer of securities for sale in the United States and
securities may not be offered or sold in the United States absent
registration or exemption from registration.
SOURCE Goldgroup Mining Inc.
For further information:
on Goldgroup, please visit www.goldgroupmining.com or contact:
Keith Piggott, CEO
David Fry, Corporate Development
TF: 1-877-655-ozAu (6928)