TORONTO, ONTARIO--(Marketwire - July
13, 2009) - North American palladium Ltd. (TSX:PDL)(TSX:PDL.WT)(NYSE
Amex:PAL)(NYSE Amex:PAL.WS) today announced the appointment of Jeff
Swinoga as the Company's Vice President, Finance and Chief Financial
Officer effective July 20, 2009.
Mr. Swinoga has over eighteen years of experience in the resource,
mining and finance industries. He brings a wealth of experience in
leading debt and equity transactions, including project financings for
mine development, as well as the management of treasury, tax, investor
relations, budgeting and planning functions. Prior to joining the
Company, he has served as Senior Vice President, Finance & CFO of
MagIndustries Corp., Vice President, Finance & CFO of HudBay
Minerals Inc., and was Director, Treasury Finance of Barrick Gold
Corporation for seven years. Mr. Swinoga is a Chartered Accountant and
a member of the Institute of Chartered Accountants of Ontario and also
holds a Master of Business Administration degree from the University of Toronto
and an Honours Economics degree from the University of Western
Ontario. As Vice President and Chief
Financial Officer, Mr. Swinoga will have overall responsibility for the
financial activities of North American palladium Ltd and its
subsidiaries, reporting to the President and CEO. He will also work
with senior management in developing and implementing the Company's
strategic growth plan.
Mr. William Biggar, President and Chief Executive Officer said,
"We are delighted that Jeff has agreed to join North American
palladium. As an important member of our senior management team, I have
no doubt that his exemplary track record and experience in the mining
industry will contribute to the achievement of our vision to build a
mid-tier precious metals company operating multiple mines in mining
friendly jurisdictions."
Mr. Fraser Sinclair, who has served as Vice President, Finance and
Chief Financial Officer since April 2007, will step down as of July 15,
2009 to pursue other opportunities. Mr. Biggar added "I would like
to thank Fraser for his dedication and contribution to North American
palladium. During his time as CFO, the Company underwent significant
change and we are well positioned financially to weather the current
downturn. We wish Fraser well in his future endeavours."
About North American palladium
North American palladium is a precious metals company that owns and
operates the LDI mine which produced platinum group metals for 15 years
until October 2008 when it was placed on temporary care and maintenance
due to low metal prices. Prior to the temporary shutdown, the mine had
annual production of 270,000 ounces of palladium, 20,000 ounces of
platinum and 20,000 ounces of gold. The Company also owns and operates
the Sleeping Giant gold mine located in the Abitibi region of Quebec,
which produced over 1 million ounces of gold from 1988-2008 at an
average grade of 11.44 g/t. North American palladium expects gold
production to resume in the fourth quarter of 2009 at an annual rate of
50,000 ounces. North American palladium benefits from operating in a
politically stable jurisdiction with developed infrastructure and a
history of innovation and excellence in mining. Please visit www.nap.com for more
information.
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