TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, Aug. 24 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or
"MHI") is pleased to announce that, further to its news releases on May 12,
2009 and August 17, 2009 with respect to its acquisition of two lithium
properties, the Company has commenced the first phase of fieldwork program on
the "Chubb Lithium Property" located in the northwestern part of Québec
approximately 32 kilometres northwest of the mining town of Val d'Or. The
property is well located with respect to access roads and transportation.
The historical exploration back in 1955-1956 on the Chubb Lithium
Property has demonstrated the possibility of high grad-lithium mineralization
and that the property indicated an ideal geological environment for hosting
large tonnage lithium deposits with multiple target areas of lithium
mineralization. The boundaries of the mineralized target areas are not
The historical surface sampling, trenching and limited drilling completed
on the property are pre NI 43-101. A qualified person has not done sufficient
work to classify the historical estimate as current mineral resources, and
therefore the issuer is not treating the historical estimate as current
mineral resources and the historical estimate should not be relied upon.
MHI is also pleased to announce that Mr. John Punzo has been appointed to
its Board of Directors. Mr. Punzo, based in British Columbia, has over twenty
five years of corporate leadership experience in the energy and finance
sectors. He is a successful entrepreneur and businessman and has played a key
role in raising significant capital for ventures in these sectors including
publicly trading small cap companies. His experience includes owning and
operating companies as well as providing merger and acquisition and
turn-around advisory services to start-up businesses.
Mr. Punzo has served as a Consultant, Advisor, President, Chief Executive
Officer, Director, and Chairman of the Board in his various roles in a wide
range of geographical areas. With Mr. Punzo's appointment to the Board and his
leadership participation, MHI is geared towards its strategy of focusing on
its new exploration projects.
The Company regrets that Mr. Hans Schwabl, who has been the Company's
Director at different stages for many years, is retiring from the Board of
Directors but has kindly agreed to continue to be a member of the Advisory
Committee of the Company. The Company wishes to record its appreciation to Mr.
Schwabl for his ongoing support.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Dieter Peter, Chairman & CEO, Telephone: (604)
685-4170; Pamela Keck, Investor Relations Co-ordinator, Telephone (direct):