TORONTO, ONTARIO -- (Marketwire) -- 03/22/13 -- Antofagasta Gold Inc. ("Antofagasta" or the "Company") (TSX VENTURE: AN) welcomes Paul Matysek (P.Geo.) and Bruce Humphrey (P.Eng.) to the board of directors of the Company.
William Randall, President & CEO of Antofagasta, commented "We are pleased to welcome Bruce Humphrey and Paul Matysek to the board. Combined they bring over 65 years of experience to the Company, including prominent and successful track records in the mining space. The addition of these two well respected mining executives is a vote of confidence for Antofagasta. Their technical, operational and financial insight will be a great asset to the Company."
Mr. Matysek is a mining entrepreneur, professional geochemist and geologist with over 30 years of experience in the mining industry. A Master of Science in geology graduate from the University of British Columbia, Paul has held senior executive and director positions with several natural resource exploration and development companies and is a proven company builder.
Mr. Matysek was CEO of Lithium One Inc. who merged with Galaxy Resources of Australia via $112M plan of arrangement to create an integrated lithium company of global significance. Prior to Lithium One, Mr. Matysek was the President and CEO of Potash One Inc. where he was the architect of the $434 million friendly takeover of Potash One by K+S Ag, which closed in early 2011. Prior to founding Potash One, Mr. Matysek was the Founder, President and CEO of Energy Metals Corporation ("EMC"), a premier uranium company traded on the New York and Toronto Stock Exchanges. Mr. Matysek led EMC as one of the fastest growing Canadian companies in recent years, increasing its market capitalization from $10 million in 2004 to approximately $1.8 billion when acquired by a larger uranium producer in 2007. He is currently President and CEO of Goldrock Mines Corp, a feasibility-stage permitted heap leach gold project in northern Argentina.
Mr. Humphrey has more than 35 years of experience in the international mining industry. He was formerly the President and CEO of Desert Sun Mining Co., which successfully developed the Jacobina Mine Complex in Brazil. The success of this project led to the acquisition of Desert Sun by Yamana Gold in April, 2006. From 1998 to 2004, Mr. Humphrey was Chief Operating Officer of Goldcorp Inc. responsible primarily for the re-development, start-up and operation of Goldcorp's high-grade Red Lake mine in northwestern Ontario.
Mr. Humphrey is a mining engineering graduate of the University of Saskatchewan in 1974. He has worked for Inco's nickel operations near Thompson, Manitoba and in the mechanized mine department of Cominco's Kimberley, B.C. operations. He has also worked in progressively senior capacities with Noranda, Echo Bay, Canamax and Canadian Mine Development. From 1995 to 1998, he was vice president, mining and contracting for BLM Service Group, a major engineering firm with projects worldwide. Mr. Humphrey is a former board member of Yamana Gold Inc., B2 Gold Corp., Consolidated Thompson Iron Mines, Avion Gold Corporation, Alderon Resource Corp. and Crocodile Gold Corp. among others.
As part of their recruitment, each of Mr. Matysek and Mr. Humphrey have been granted 250,000 options exercisable for a corresponding number of shares in the Company, subject to regulatory approval. The stock options granted to each of Mr. Matysek and Mr. Humphrey will be exercisable at a price of $0.68 for a period of 5 years. In addition, the stock options are subject to a four month and one day statutory hold period.
Antofagasta Gold (formerly Windamere Ventures Ltd.) is a Canadian mineral exploration company currently focused on projects in Chile. The initial focus is on advancing its wholly-owned Capricornio project near Antofagasta, Chile. The Company will also actively seek out complementary growth opportunities that are synergistic with its projects and management strengths. Antofagasta's board and management have both significant technical knowledge and capital markets experience that will assist in the Company's growth.
On behalf of the Board of Directors of Antofagasta Gold Inc.
William Randall, President and CEO
Cautionary Note Regarding Forward-Looking Information:
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements (express or implied) relating to production results and/or the impact of such production results with respect to the timing, cost and/or amount of future exploration and development of any property, the timing, cost and/or amount of future production, the future price of gold or other minerals, the successful implementation of development plans at any of the Company's properties and/or the future financial or operating performance of Antofagasta, its properties and/or its projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. It should also be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
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.
Antofagasta Gold Inc.
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