(formerly Mexoro Minerals Ltd)
Trading Symbol (MXOM:OTCBB)
BROOMFIELD, CO, July 26 /CNW/ - Pan American Goldfields Ltd. (OTCBB:"MXOM") (the "Company") is pleased to announce that it has appointed Neil Maedel, Randy Buchamer, and Gary Parkison as directors of the Company.
These new directors will add significantly to the technical and financial industry experience base of the Company and their appointment reflects an increase in the Company's efforts at growth and value creation for its shareholders. These appointments come at a time when the Company's operations at Cieneguita have moved beyond the initial start-up phase and are now cash flowing, and the Company is also pursuing a listing on either the Toronto Stock Exchange or the TSX Venture Exchange, consistent with its status as a producing resource company.
Mr. Neil Maedel is a Thailand based financier specializing in international resource projects. Most recently he was the Director, Business Development of Manas Petroleum during the period when it acquired its interests in Tajikistan, Mongolia, Chile and Albania. Mr. Maedel is the editor of Switzerland based Maedel's, a stock market commentary which was founded in 1988, known for its analysis of resource projects. He is also a director of Andean Invest (Bahamas) through which he acted as advisor to Pan American during its recent reorganization and continues to advise the company. Mr. Maedel worked as a professional stock trader and researcher in Canada during the 1980s and has assisted in financing resource companies for the past two decades.
Mr. Randy Buchamer has an extensive background in business administration and finance. He is the chairman of RewardStream a private B.C., Canada based technology company. Prior to this, Mr. Buchamer was the CEO of Voice Mobility and directed its transformation into a profitable company. Mr. Buchamer was also the Managing Director, Operations for The $5 billion revenues, 25,000 employee, Jim Patterson Group. Prior to this Mr. Buchamer was first the CIO and later the COO of Mohawk Oil Company Ltd. during its restructuring, corporate turnaround and listing on the Toronto Stock Exchange. At the time Mohawk was one of Canada's largest independent petroleum and convenience store retailers. Mr. Buchamer's background includes formal education in business administration and finance at Simon Fraser University and the University of Illinois as well as significant experience in SEC, TSX.V, and Sarbanes-Oxley compliance matters.
Mr. Gary Parkison is an accomplished geologist and project manager with diverse expertise regarding the exploration and development of base and precious metals, industrial minerals, and uranium projects. Mr. Parkison was formerly the Vice President-Exploration and Development for Constellation Copper Corporation and Chief Geologist for Cambior USA, Inc. He also worked as an exploration geologist for Westmont Mining, Inc., and Nicor Mineral Ventures. Mr. Parkison has participated in or been credited for a number of large copper and gold discoveries, and also has had significant experience in the successful completion of feasibility studies and mine development projects. Gary has a B.S. degree in geology from UCLA and an M.S. from the University of California at Berkeley and is currently President of Praxis Mining Consultants LLC.
"We are pleased to add this new strength to our board of directors," said Mario Ayub, the Company's Chairman. "The new directors will add geological, financial, and transactional expertise and experience to the Company and enable us to continue to grow through exploration and potential acquisitions as well. As we move into the future, we look forward to their contributions and to additional strength in our position in the industry and growth for our shareholders. We are targeting new exploration and producing projects in Mexico and elsewhere in North and South America, and we are making progress on our ongoing operation and development plans at Cieneguita."
About Pan American Goldfields
Pan American Goldfields Ltd is a Chihuahua, Mexico based gold producer and exploration company. It is a specialist in exploration, mine development and production in Mexico's booming Sierra Nevada gold belt. The company's most advanced project is its now producing Cieneguita gold mine where a feasibility study to significantly increase the mine's already growing production profile is underway. Pan American also has exploration programs underway at Cieneguita South and Piedras Blancas, as well as at the Encino Gordo project.
On behalf of the Board of Directors,
Mario Ayub, Chairman
Mexoro Minerals Ltd.
Mountain View Center
12303 Airport Way
Broomfield, CO 80021
Tel: +1 (303) 327-1587
Safe Harbor Disclosure
The information in this press release contains forward-looking statements regarding future events or the future financial performance of the Company. Please note that any statements that may be considered forward-looking are based on projections; that any projections involve judgment, and that individual judgments may vary. Moreover, these projections are based only on limited information available to us now, which is subject to change. Although those projections and the factors influencing them will likely change, we are under no obligation to inform you if they do. Actual results may differ substantially from any such forward looking statements as a result of various factors, many of which are beyond our control, including, among others, the timing and outcome of our feasibility study on our Cieneguita Project; the costs and results of our initial production activities on our Cieneguita Project; the future financial and operating performances of our projects; the timing and amount of funds received from the sale of our Guazapares Project the estimation of mineral resources and the realization of mineral reserves, if any, on our existing and any future projects; our ability to list on either the Toronto Stock Exchange or the TSX Venture Exchange; the timing of exploration, development, and production activities and estimated future production, if any; estimates related to costs of production, capital, operating and exploration expenditures; requirements for additional capital and our ability to raise additional capital on a timely basis and on acceptable terms; government regulation of mining operations, environmental risks, reclamation and rehabilitation expenses; title disputes or claims against our existing and any future projects; and the future price of gold, silver, or other minerals. These and other factors can be found in our filings with the SEC. The Company undertakes no obligation to release publicly the results of any revision to these forward-looking statements to reflect events or circumstances following the date of this release.
SOURCE Pan American Goldfields Ltd.
For further information: For further information: Mr. Christopher R. Anderson "Chris", 604.628.7065 - info@PanAmericanGoldFields.com