- TSX.V: CDB $0.11
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Cordoba Minerals Announces Three Key Appointments to the Board of Directors and Significant Additions to the Management Team
TORONTO, CANADA, April 20, 2016: Cordoba Minerals Corp. ("Cordoba" or the "Company") (TSX-V: CDB), is pleased to announce the appointments of Peter Meredith, Govind Friedland and Tony Makuch to its Board of Directors.
Board of Director Appointments
Peter Meredith, who will assume the role as Chairman of the Board of Cordoba, is an experienced and well respected mining executive. Mr. Meredith has been a Director of Ivanhoe Mines Ltd. since 1998. Mr. Meredith is the former Deputy Chairman and Chief Financial Officer of Ivanhoe Mines Ltd. (now Turquoise Hill Resources Ltd.), where he was involved in overseeing Ivanhoe's business development and government relations. Prior to joining Ivanhoe Mines Ltd., Mr. Meredith spent 31 years with Deloitte LLP, chartered accountants, and retired as a partner in 1996. Mr. Meredith is a Chartered Accountant and is a member of the Institute of Chartered Accountants of British Columbia and the Institute of Chartered Accountants of Ontario.
Tony Makuch was the Chief Executive Officer of Lake Shore Gold prior to the recent acquisition by Tahoe Resources. Since joining Lake Shore Gold in 2008, Mr. Makuch had overseen the company's progression from exploration to annual production of approximately 180,000 ounces of gold. He is a professional engineer (Ontario) with over 25 years of management, operations and technical experience in the mining industry, having managed numerous projects in Canada and the United States from advanced exploration through production. Mr. Makuch holds a Bachelor of Science Degree (Honours Applied Earth Sciences) from the University of Waterloo in Ontario, and both a Masters of Science Degree in Engineering and a Masters of Business Administration from Queen's University in Ontario. Mr. Makuch holds the Institute of Corporate Directors designation, ICD.D.
Govind Friedland is the Executive Chairman of the Board of Directors of GoviEx Uranium and a principal and co-founder of Ivanhoe Industries, the parent company of I-Pulse Inc., a hi-tech company providing innovative solutions for mining, oil & gas, and advanced manufacturing sectors based in Toulouse France. He earned his degree in Geology and Geological Engineering from the Colorado School of Mines in 2000 with a focus on Exploration Geology. Mr. Friedland also was the former Business Development Manager for Ivanhoe Mines Ltd. based in China and has significant experience in emerging markets.
"We are delighted to have Peter, Tony and Govind join our Board," commented Mario Stifano, CEO of Cordoba. "They each bring a wealth of experience in exploring, developing and operating mines throughout the world. Their extensive leadership experience and mining knowledge will be an extremely valuable asset as we look to advance our San Matias Copper Gold Project in Colombia."
Mr. Meredith, Mr. Makuch and Mr. Friedland will replace three existing directors; Beatriz Uribe, William Katzin and Tod Turley who have decided to resign from the Board.
"The Company and the Board would like to express its sincere thanks to Mrs. Uribe, Mr. Katzin and Mr. Turley for the valuable contributions that they made during their tenures as directors with the Company," said Mr. Stifano.
Management Team Additions
In addition, Charles Forster and Luis Fernando De Angulo have been appointed Special Advisors to Cordoba's Board of Directors and CEO while Sarah Armstrong is joining Cordoba as Vice President and General Counsel.
Charles Forster, P. Geo., has more than 45 years of diversified mineral exploration experience in Canada, United States, Sub-Saharan Africa, Portugal, China and Mongolia. Mr. Forster was formerly the Senior Vice President of Exploration at Oyu Tolgoi in Mongolia for Ivanhoe Mines (now Turquoise Hill Resources) from early 2001 to June 2008. During this time, he led a team of multi-national and Mongolian geologists in the discovery and delineation of the world-class Oyu Tolgoi copper-gold porphyry deposit. The discovery of the massive, high-grade Hugo Dummett underground deposit at Oyu Tolgoi was subsequently recognized by the Prospectors and Developers Association of Canada, which in 2004 named Mr. Forster a co-recipient of the inaugural Thayer Lindsley Medal awarded for the International Discovery of the Year.
Luis Fernando de Angulo is a sustainability, human rights and social standards professional. Mr. De Angulo started his career with the Cerrejón Coal project in Colombia where he was involved with a variety of issues in relation to community development. Most recently Mr. de Angulo was the worldwide corporate social responsibility (CSR) Director for Occidental Petroleum, with responsibility for operations in three continents. Currently, he is a founding partner of Gestión Responsible, a sustainability consultancy to the Oil and Mining Industries. Mr. De Angulo is a native of Colombia, educated in Bogota, the US (Harvard) and The Netherlands (Institute of Social Studies).
Sarah Armstrong is also the General Counsel at High Power Exploration Inc., Cordoba's joint-venture partner at the San Matias Project. Sarah previously worked at Linklaters and Xstrata and has nine years' experience in emerging markets having worked on, and led transactions in, Asian and Latin American countries including Hong Kong, Singapore, Mongolia, China, Philippines Chile, Peru and Colombia ranging from mining projects, structured capital market transactions, M&A, take-overs, joint ventures and earn-ins and international arbitration proceedings. Sarah is admitted as a legal practitioner in Australia (Supreme Court of New South Wales and Supreme Court of Queensland) and a registered foreign lawyer in Hong Kong.
Mario Stifano, CEO of Cordoba commented: "I am extremely pleased with the additions to Cordoba's management as we move the San Matias Copper-Gold Project to the next phase. Charles' wealth of experience at Oyu Tolgoi, one of the world's largest copper-gold discoveries, will be a vital contribution to our team as we expand our exploration programs at San Matias. Luis Fernando's CSR expertise will enable Cordoba to continue building upon its strong community relations in the San Matias region where the Company has been formally recognized by the Colombian government for its social work in the region. Sarah Armstrong, who will be based in Colombia, was instrumental in negotiating and completing the acquisition of the Alacran Project by Cordoba."
Cordoba is also announcing that it has granted 1,925,000 incentive stock options to certain directors, officers and consultants pursuant to the Company's stock option plan, at an exercise price of $0.85 per share, expiring on April 19, 2026. This stock option grant is subject to approval by the TSX Venture Exchange.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. District-scale alteration and an abundance of mineralized showings at San Matias shows similarities to other world-class tier one copper-gold porphyry deposits. The project is located near operating open pit mines with ideal topography in the Department of Cordoba. For further information, please visit www.cordobaminerals.com.
Mario Stifano, President and CEO
Phone: +1 416-862-5253
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.
This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential of the Company's properties are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.