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VANCOUVER, June 20, 2011 /CNW/ - Capstone Mining Corp. ("Capstone" or
the "Company") (TSX: CS) today announced the following changes to its
board of directors upon completion of the arrangement (the
"Arrangement") with Far West Mining Ltd. and long-term strategic
partnership with Korea Resources Corporation ("KORES") for the
development of the Santo Domingo project in Chile.
Additions to the Board
Rick Zimmer, P.Eng., M.B.A, was President and CEO of Far West Mining Ltd. He has
over 30 years of Canadian and international mining experience,
including leadership of operating, development and construction
projects in the mining and natural resource sectors.
Hak-Kyun Shin, P. Eng., is the Director General for Business Development/Foreign
Investment for KORES and previously was Director for the Coal Business
Development/Foreign Investment before becoming the COO at the Toronto
Office and a Director for KORES Canada Corp.
Jan Castro is the Chief Executive Officer of Pala Investments AG, the exclusive
advisor to Pala Investments Holdings Ltd., a multi-strategy investment
company dedicated to investing in, and creating value across, the
mining sector in both developed and emerging markets.
Colin Benner and Stephen Quin have tendered their resignations to the
board following the completion of the Arrangement.
"We would like to welcome Messrs. Zimmer, Shin and Castro to Capstone's
board at this transformational time for the Company," said Darren
Pylot, President and CEO of Capstone. "We are looking forward to
having their counsel as we advance the company, and particularly the
development of the Santo Domingo project."
"I would also like to take this opportunity to thank Colin and Stephen
for their substantial contributions to the development of Capstone,"
continued Mr. Pylot. "Colin was Chairman of the board of both Capstone
and its predecessor, Sherwood Copper. Stephen co-founded Sherwood
Cooper, which under his leadership put the Minto mine into production
and acquired the Kutcho project. Both Colin and Stephen were
instrumental in leading the Sherwood team through the merger with
Capstone and have continued to provide invaluable direction as we have
grown Capstone."
About Capstone Mining Corp.
Capstone Mining Corp. is a TSX listed Canadian mining company with two
producing copper mines in the Americas: the Cozamin
copper-silver-zinc-lead mine located in Zacatecas State, Mexico and the
Minto copper-gold-silver mine in Yukon, Canada.
Using its operations as a springboard, Capstone aims to grow organically
and through acquisitions in politically stable, mining-friendly
jurisdictions, with a focus in the Americas: organic growth through
continued mineral resource and reserve expansions as well as expanding
operations at its operating mines, development of its large 70% owned
Santo Domingo copper-iron-gold project in Chile in partnership with
Korea Resources Corporation, development of its Kutcho
copper-zinc-gold-silver project in British Columbia and exploration at
properties in Chile, British Columbia and Australia. Capstone's cash
flow and strong balance sheet provide the platform to enhance that
growth profile. Capstone is included in the S&P/TSX Composite Index
and S&P/TSX Global Mining Index. Additional information is available
at our website
Forward-Looking Statements
This document may contain "forward-looking information" within the
meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). These forward-looking statements are made as of the date
of this document and Capstone does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required under applicable securities legislation. By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Capstone to be materially different from
any future results, performance or achievements expressed or implied by
the forward-looking statements .
For further information:
Capstone Mining Corp. Cindy Burnett, VP Investor Relations Telephone: 604-637-8157 Email: cburnett@capstonemining.com Website: http://www.capstonemining.com/">www.capstonemining.com
