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Re: News Release - Friday, January 02, 2009
Tiomin Resources Makes Changes to Board of Directors
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TORONTO - January 2, 2009: Tiomin Resources Inc. (TSX: TIO) ('Tiomin'
or the 'Company') announced today that Mario Caron joined its Board of
Directors on January 1, 2009 to replace Tom Ogryzlo, who resigned as a
Director effective December 31, 2008. In addition, Jean-Charles Potvin
resigned as Executive-Chairman and was immediately reappointed as
Chairman, effective January 1, 2009.
The Company welcomes Mario Caron to the Board. Mr. Caron is President,
CEO and a Director of AXMIN Inc. (AXM-TSX Venture), an exploration
company with a track record of finding and developing mines in Africa.
Prior to joining AXMIN in January 2008, Mr. Caron was President and CEO
of Tiberon Minerals Ltd., a former Toronto listed company developing a
large tungsten fluorite deposit in Vietnam. Mr. Caron's African
experience includes being Vice President of Defiance Mining
Corporation, which held the Tasiast gold project in Mauritania, and
President and CEO of Eden Roc Mineral Corp., a gold producer in C�te
d'Ivoire. He holds a Bachelor of Engineering, Mining from McGill
University in Montr�al.
Mr. Potvin stated "We are delighted to welcome such a seasoned
executive as Mario Caron to our Board and very sorry to say goodbye to
Tom Ogryzlo, whose guidance and expertise has been greatly appreciated
by the Board and management of Tiomin since 1995. Tom's broad business
experience in mining projects around the world will be missed".
Discussing Mr. Potvin's change of role, Robert Jackson, President &
CEO, said "The Board felt it was time to adopt a more conventional
executive structure. Separating the Chairman of the Board function
from direct executive responsibilities is consistent with good
corporate governance. Mr. Potvin remains energetically committed to
restoring shareholder value to Tiomin".
About Tiomin Resources Inc.
Tiomin is maximizing shareholder value by the acquisition, exploration
and development of industrial mineral, gold and base metal projects.
Jinchuan Group Limited ('Jinchuan'), one of China's largest mining
companies, owns approximately 20% of Tiomin.
Tiomin has three main assets: approximately $20.6 million of cash (at
September 30, 2008), a 49% interest in the Pukaqaqa copper and gold
project in Peru and currently 100% interest in the Kwale titanium
project in Kenya. Tiomin's share price currently reflects a
substantial discount to its cash position and it receives no value for
its other assets in Peru or Kenya.
In addition, Tiomin owns a 17.9% interest in Kivu Gold Corporation, a
company focused on gold exploration in sub-Saharan Africa, and the
Company has earned a 70% interest in a joint venture company, Xinjiang
Pacific Resources ('XPR'), which has portfolio of exploration
properties that are in the Altay Shan mineral belt in Xinjiang Province
in northwestern China. The Company has a right to earn up to 90% of
XPR.
To find out more about Tiomin Resources Inc., please visit the company
website at www.tiomin.com.
For further information on Tiomin please contact:
Jim O'Neill, VP Corporate Controller and Investor Relations
E-Mail: joneill@tiomin.com
Phone: 416-350-3779, ext. 231
Certain of the information contained in this news release constitute
'forward-looking statements' within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to those respect to the prices of
metals and minerals, estimated future production, estimated costs of
future production and the Company's sales policy, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any forecast results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, the actual prices of copper and
gold, the actual results of current exploration, development and mining
activities, changes in project parameters as plans continue to be
evaluated, as well as those factors disclosed in the Company's
documents filed from time to time with the Ontario Securities
Commission.
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Copyright (c) 2009 TIOMIN RESOURCES INC. (TIO) All rights reserved.
For more information visit our website at http://www.tiomin.com/ or
send mailto:news@tiomin.com
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Vaaldiam Mining Inc.
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PRODUCTEUR |
CODE : VAA.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Vaaldiam Mining est une société développant des projet miniers de cuivre basée au Canada. Vaaldiam Mining est productrice de cuivre, de diamants au Bresil, et détient divers projets d'exploration au Bresil, au Canada, au Perou, en Afrique Du Sud et en Republique Centrafricaine. Son principal projet en production est DUAS BARRAS au Bresil et ses principaux projets en exploration sont KILIFI et MAMBRUI au Kenya, HILLTOP PROPERTY au Canada, PUKAQAQA au Perou, ZUURVERDIEND et BOSSIESLAAGTE en Afrique Du Sud et KIMBERLITE en Republique Centrafricaine. Vaaldiam Mining est cotée au Canada. Sa capitalisation boursière aujourd'hui est 140,6 millions CA$ (143,1 millions US$, 103,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 1,70 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,01 CA$. Vaaldiam Mining possède 502 264 000 actions en circulation. |