TORONTO, ONTARIO -- (Marketwired) -- 04/02/13 -- First Bauxite Corporation (TSX VENTURE: FBX) ("First Bauxite" or the "Company") announces that Carlos Pinglo has been appointed Chief Financial Officer and Corporate Secretary of First Bauxite succeeding Ian Fodie. The Company thanks Mr. Fodie for his contributions and wishes him well in his future endeavors.
Mr. Pinglo will also continue in his role as Chief Financial Officer and Corporate Secretary of Eurotin Inc. He is an economist with over 20 years senior management experience working with both private and public companies in corporate finance, strategic planning, financial reporting and mergers and acquisitions. He has previously held a number of senior finance roles, including Chief Financial Officer at Medoro Resources Ltd., Vice President, Finance at Pacific Coal Resources Ltd., Controller of both Silver Eagle Mines Inc. and Excellon Resources Inc. and a member of the Board of Directors of Mineros Nacionales S.A.
About First Bauxite: First Bauxite is a Canadian natural resource company engaged in the exploration and development of bauxite deposits in Guyana, South America. The Company has its head office in Toronto and is managed by experienced geoscientists and business development professionals with worldwide experience in the exploration and mining business across a number of mineral commodities. The mission of First Bauxite is to become a near term, medium size producer and supplier of high quality refractory grade sintered (calcined) bauxite. First Bauxite controls a large land package in Guyana's historical coastal bauxite belt, including the Bonasika Mining License, the Waratilla-Cartwright Prospecting License, and the Essequibo PGGS Prospecting Permit. The Company also holds the Tarakuli and contiguous Tarakuli North-West Prospecting Licenses in Northeast Guyana. The Company's Bankable Feasibility Study Update defines and confirms the economic viability of an operation based on sequential mining of the two (2) bauxite deposits (Bonasika 6 and Bonasika 7), and the construction of a washing plant facility, a sintering plant, and load out facilities, at Sand Hills. The Bonasika 1, 2 and 5 deposits are additional value and would increase the mine of life from 36 years to 44.5 years.
For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.
On behalf of The Board of Directors of First Bauxite Corporation
Hilbert N. Shields, President & CEO
Certain statements in this press release constitute "forward-looking statements". Forward-looking statements express, as at the date of this press release, the Company's plans and expectations, or beliefs as to future events. Forward-looking statements are based on certain assumptions, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Subject to applicable laws, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
Neither 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.
First Bauxite Corporation
Hilbert N. Shields
President & CEO
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