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Re: News Releases - Tuesday, August 14, 2007
FRONTERA COPPER ANNOUNCES THE APPOINTMENT OF ALAN EDWARDS AS
PRESIDENT AND CEO AND THE RETIREMENT OF GARY LOVING
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Toronto, ON -- August 14, 2007 -- Frontera Copper Corporation (FCC:
TSX, FCC.NT, FCC. NT.A: TSX)) is pleased to announce the appointment of
Alan Edwards as President, Chief Executive Officer and Director on the
Board for Frontera Copper. Alan Edwards will replace Gary Loving,
incumbent President and Chief Executive Officer of Frontera Copper who
will retire from the company in September 2007.
"Frontera Copper has been very fortunate to have had a mining executive
with the experience and talent of Gary Loving. His experience in
developing and operating mines in Latin America has been invaluable to
the successful engineering, construction, start up and operation of the
Piedras Verdes copper mine and, on behalf of the Board of Directors of
Frontera Copper, I would like to thank him for his many contributions
and to wish him well during his retirement," says Dr. Patrick Ryan,
Chairman of the Board of Frontera Copper Corporation.
We would also like to welcome Alan Edwards who is a mining professional
with 25 years of diverse mining industry experience. Most recently Alan
held the position of Executive Vice President and Chief Operating
Officer at Apex Silver Mines Corporation, where he was responsible for
the engineering, construction and commissioning of the San Cristobal
Project in Bolivia.
Alan has a BSc in Mining Engineering and an MBA (Finance) from the
University of Arizona. He initially worked for Phelps Dodge Corporation
for 15 years where he held positions of increasing responsibility
including General Manager of Operations, Chino Mines Company. From
1996-2000, Alan worked for Cyprus Amax Minerals Company where he rose
to the position of President/General Manager of Sociedad Minera Cerro
Verde SA in Peru. Prior to joining Apex Silver Mines, he held Senior
Operating positions with P.T. Freeport Indonesia and Kinross Gold
Corporation.
"We are delighted to have Alan as our new President and CEO at this
exciting time in the history of our company," says Dr. Ryan. "He not
only brings his extensive project development and operating experience
to the company, but will be able to make a major contribution towards
growing the company through mergers, acquisitions, joint ventures and
exploration."
About Frontera Copper
Frontera Copper is a Canadian mining, development and exploration
company whose principal activity is the production of copper cathode
from the Piedras Verdes run-of-mine heap-leach copper operation in
Sonora, Mexico. Production commenced in October, 2006.and has ramped up
to an annual rate of 70 million pounds. A total of 942 million pounds
of copper is projected to be produced during the 18-year life of the
operation. Existing resources and prospective exploration targets
adjacent to the main open-pit have the potential to extend the life of
the project.
The Company currently anticipates production of 60 to 63 million pounds
of "LME Grade A" quality copper cathode during 2007 at a cash cost of
approximately $1.19 to $1.27 per pound (including prepaid royalties).
Capital expenditures for 2007 are forecast at $37 million.
For further information, please see Frontera Copper's website at
www.fronteracopper.com or contact:
Ann Gibbs
Manager of Investor Relations
Tel.: 416 350-5132
Toll-free: 888 323-0973
Email: ann@fronteracopper.com
Dave Peat
Chief Financial Officer
Tel.: 602 667-3202
Email: dave.peat@fronteracopper.com
Information in this news release that is not current or historical
factual information may constitute forward-looking information or
statements within the meaning of applicable securities laws. Implicit
in this information, particularly in respect of statements as to future
operating results and economic performance of the Company, and
resources and reserves at the Piedras Verdes operations, are
assumptions regarding projected revenue and expense, copper prices and
mining costs. These assumptions, although considered reasonable by the
Company at the time of preparation, may prove to be incorrect. Readers
are cautioned that actual results are subject to a number of risks and
uncertainties, including risks relating to general economic conditions
and mining operations, and could differ materially from what is
currently expected. The Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
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Copyright (c) 2007 FRONTERA COPPER CORPORATION (FCC) All rights
reserved. For more information visit our website at
http://www.fronteracopper.com/ or send
mailto:emaillist@fronteracopper.com
Message sent on Tue Aug 14, 2007 at 6:37:34 AM Pacific Time
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