TORONTO, Sept. 7, 2012 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK) is pleased to announce the appointment of Mr. Hernan Martinez as a director and Executive Chairman of the Company, effective immediately, to replace the Company's current Co-Chairmen, Mr. Serafino Iacono and Mr. Miguel de la Campa. Messrs. Iacono and de la Campa have tendered their resignation as Co-Chairmen but will continue on in their role as directors of the Company.
Mr. Martinez has served as the Colombian Minister of Mines and Energy from July 2006 to August 2010 and has also served as President of International Colombia Resources Corporation, President of Atunec S.A., President and Chief Executive Officer of Exxon Mobil Colombia S.A., and Manager of Corporate Planning for Esso Colombiana S.A. Previously, he has acted as a director of various private and public companies, including Interconexion Electrica S.A. ESP, Transmision Electrica S.A., and Inversura S.A., ISAGEN Energia Productiva, and Cart Ecopetrol. Mr. Martinez has also served as Council President and Representative of the President of Colombia at the National Hydrocarbons Agency (ANH). He currently sits on the board of directors of CB Gold Inc., Pacific Rubiales Energy Corp., and Gran Colombia Gold Corp.
The Company would like to thank Messrs. Iacono and de la Campa for their efforts and contributions to advance the Company's assets in their role as Co-Chairmen. Their service, insight and experience has been invaluable to the Company and will continue to be so in their role as directors of the Company.
About Pacific Coal Resources Ltd.
Pacific Coal Resources Ltd. is a Canadian-based mining company focused on coal, coking coal, asphalt and asphaltite exploration, development and production from prospective producing, development-stage and exploration-stage properties in Colombia. The Company has acquired or entered into agreements to acquire various interests in several operating coal mines and projects, representing a substantive coal and asphaltite exploration and production area throughout Colombia. Pacific Coal is committed to implementing its exploration and development strategy with a comprehensive environment, safety and community program, meeting international standards of best practice.
Forward Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Pacific Coal to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Pacific Coal disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither 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 news release.
SOURCE: Pacific Coal Resources Ltd.
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