Business News
Minera Andes Welcomes Lundin Group Mining Executive to Board
2008-07-29 15:41:00
Minera Andes Welcomes Lundin Group Mining Executive to Board
TSX: MAI
NASD-OTCBB: MNEAF
SPOKANE, WA, July 29 /EMWNews/ - Minera Andes Inc. (TSX:
MAI and US OTC: MNEAF) is pleased to announce that Richard P. Clark,
president and CEO of Red Back Mining Inc, a Lundin Group company, of
Vancouver, B.C., has joined the board of directors of Minera Andes Inc. His
appointment represents an expansion of the board to seven members.
"It is a pleasure to welcome Rick to the Minera Andes board," said
Allen V. Ambrose, president. "He has the background in South American
mining, project finance and development that compliments our plan to grow
the Company. As Minera Andes completes its first year of production and
cash flow from its San Jose gold/silver mine in Argentina, and pursues its
major copper opportunity at Los Azules, Rick's professional skills are a
welcome addition to our board."
A mining professional with more than 20 years experience, Mr. Clark is
a mining lawyer who has wide ranging business experience in the mining
sector from managing exploration companies to developing mines into
emerging mid-tier producing companies with projects Latin America and
Africa. Mr. Clark has grown Red Back from a market capitalization of $40
million to over $1.5 billion.
Minera Andes is a gold, silver and copper exploration company working
in Argentina. The Company holds about 304,000 acres of mineral exploration
land in Argentina including the 49% owned San Jose silver/gold mine that
has commenced production last year. Minera Andes is also exploring the Los
Azules copper project in San Juan province, where an exploration program is
underway to define a resource and scoping study. Other exploration
properties, primarily silver and gold, are being evaluated in southern
Argentina. The Corporation presently has 189,456,935 shares issued and
outstanding.
This news is submitted by Allen V. Ambrose, president and director of
Minera Andes Inc.
Caution Concerning Forward-Looking Statements:
This press release contains certain "forward-looking statements",
including, but not limited to, the statements regarding the Company's
strategic plans, evolution of mineral resources and reserves, work
programs, development plans and exploration budgets. The forward-looking
statements express, as at the date of this press release, the Company's
plans, estimates, forecasts, projections, expectations or beliefs as to
future events and results. Forward-looking statements involve a number of
risks and uncertainties, and there can be no assurance that such statements
will prove to be accurate. Therefore, actual results and future events
could differ materially from those anticipated in such statements. Risks
and uncertainties that could cause results or future events to differ
materially from current expectations expressed or implied by the
forward-looking statements include, but are not limited to, factors
associated with fluctuations in the market price of base metals, mining
industry risks, risks associated with foreign operations, the state of the
capital markets, environmental risks and hazards, uncertainty as to
calculation of mineral reserves, and other risks. Reference is made to the
risk factors and uncertainties described in the Company's continuous
disclosure record, a copy of which is available under the Company's profile
at http://www.sedar.com.
Cautionary Note to U.S. Investors:
The United States Securities and Exchange Commission (the "SEC")
permits mining companies, in their filings with the SEC, to disclose only
those mineral deposits with "mineral reserves" that a company can
economically and legally extract or produce. We use certain terms in this
press release, such as "mineral resources", that the SEC guidelines
strictly prohibit us from including in our filings with the SEC.
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