VANCOUVER, March 1, 2014 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) (the "Company") announces that the Company is implementing a transition of the day-to-day management of the Company from Mary L. Little, the President, CEO, director and a founder of the Company, to Stephen C. Nano, who has served as Vice President of Exploration for the past 10 years and is also a founder of the Company.
Under the first stage of this succession plan, which is effective today, Mr. Nano has been appointed as a director and the President of the Company. Ms. Little continues to serve as CEO until a future date during which time she will work closely with Mr. Nano to jointly manage the affairs of the Company and coordinate the transfer of chief executive management responsibility to Mr. Nano. Upon completion of this transition period, Mr. Nano will assume the helm as CEO from Ms. Little, who will continue to serve as a director, and as a consultant to the Company.
Nick DeMare, an independent director of the Company since 2005, stated, "Under Mary's leadership, and through the support of a highly effective technical team, the Company has established an impressive track record of exploration success, which culminated in the December 2012 sale of its interest in the Joaquin Project in Argentina to Coeur for US$60,000,000 in cash and Coeur stock. In addition, the Company has also generated and holds an impressive portfolio of promising mineral properties in Chile and Argentina. On behalf of shareholders and the Board of Directors, we thank Mary for her significant contributions and tireless commitment to the success of the Company."
As noted above, Ms. Little and Mr. Nano, as founders of the Company, have played integral roles in the development and the exploration achievements of the Company since its inception in 2003.
Ms. Little said, "I'm very proud of the exceptional exploration and management team at Mirasol and the accomplishments we built over the past 10 years. I am especially proud of the Joaquin sale providing our Company with the strongest balance sheet and working capital in our history. Stephen and I have worked seamlessly, along with co-founder Tim Heenan, Manager of Exploration, and a director, to build Mirasol into one of the best prospect generators in the world. I am confident that our Company will achieve further success under Stephen's guidance."
Mr. Nano co-founded Mirasol Resources in October 2003 and has served as Vice-President of Exploration since October 2004. Mr. Nano is a specialist in project generation and in volcanic-arc related gold, silver and copper mineralization. He has wide-ranging experience from frontier exploration through to mine geology, and business development. He has over 25 years experience in the exploration and mining industry globally and has been exploring in Latin America for 22 years, where he has made direct contributions to the discovery of a number of precious metal deposits. From 1990 to1991, he served as mine and exploration geologist in the Great Basin for Newmont Mining Corporation. From 1992 to 1996, Mr. Nano served as District Geologist for Bolivia and Argentina with Newcrest Mining Ltd, and from 1996 to 1997 he served as Principal Geologist, Chile and Argentina with Mt Isa Mines Chile. From 1997 to 2003, Mr. Nano served as Principal Geologist for the Americas with MIM Exploration (now Xstrata Copper Australia Pty Ltd.) and was responsible for generative programs for the company in Latin America. Mr. Nano holds a B.Sc. (Honors) degree from the University of New England, Australia, is a Fellow and a Chartered Professional of the Australasian Institute of Mining and Metallurgy, and is a Qualified Person as defined by NI 43-101.
Under Mr. Nano's direction, during 2011-12 Mirasol re-established its exploration activities in Chile with the Gorbea Belt gold program where the company has built a new portfolio of 100% owned gold and silver projects and is advancing the Rubi copper gold project under JV to First Quantum Minerals. Mirasol intends to expand the company's presence in Chile, leveraging the Company's strong financial position, high-caliber exploration team and innovative project generation skills that are its trademarks. The company will also continue to pursue strategic business opportunities to advance and expand the company's high-quality precious metal project portfolio in Chile and Argentina.
Mirasol is a well-funded exploration and development company focused on the discovery, exploration and acquisition of high-potential precious metals deposits in the Americas, utilizing leading edge technology for strategic advantage. Mirasol operates through subsidiary companies in Chile and Argentina is engaged in generative exploration in high-potential regions in the Americas. Strategic joint ventures and partnerships with producers have enabled Mirasol to pursue success in project generation. In December 2012, Mirasol completed the sale of the Joaquin silver-gold property in Santa Cruz, Argentina to its partner Coeur d'Alene Mines, from which proceeds will provide funding for exploration programs at its priority projects for several years. Mirasol operates subsidiary companies in Chile and Argentina, and is engaged in generative exploration in high-potential regions elsewhere in the Americas. For further information, visit Mirasol's web page at www.mirasolresources.com
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.
SOURCE: Mirasol Resources Ltd.
For further information:
Mary L. Little, CEO, and
Stephen Nano, President