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VANCOUVER, Jan. 17 /CNW/ - Mercator Minerals Ltd. ("Mercator" or the "Company") (ML: TSX) is pleased to announce the
appointment of Mr. Mark W. Distler, CPA., as Chief Financial Officer of
the Company effective January 15, 2011.
Mr. Distler possesses senior-level financial executive experience,
including positions with publicly listed mining companies, Frontera
Copper Corporation and Freeport-McMoRan (Phelps Dodge Corporation). Mr.
Distler holds both a Bachelor of Science in Accounting and has been a
Certified Public Accountant since 1989.
Mr. Distler takes over from Mr. Raymond R. Lee, who has been with
Mercator since 2000 serving as a Director since 2000 and as its CFO
from 2002 to present, and was one of the founders of the Company. Mr.
Lee is retiring from the position of CFO but will continue as an
advisor to the company and remains on the Board of Directors. Mike
Surratt, President and CEO of Mercator stated, "The Board of Directors
and I appreciate the contributions Ray has made during the years, from
the start up of the Company, through the planning, construction and
operation of the Mineral Park Mine. Ray has been a tremendous asset,
and on behalf of the Board of Directors, I thank him for his
outstanding service and contributions to Mercator over the years."
Mr. Surratt continued, "I am also pleased to welcome Mark to our team.
His experience in the mining industry, both in Mexico and the United
States, will further enhance the Company's management team as we
complete the expansion at Mineral Park, develop and commence
construction of the El Pilar copper project."
About Mercator Minerals Ltd.
Mercator Minerals Ltd. is a TSX listed mining company with an
experienced management team that has brought the mill expansion at the
Mineral Park Mine, one of the largest and most modern copper-moly
mining-milling operations in North America to production in less than 2
years. Mercator management is dedicated to maximizing profits at the
Mineral Park Mine and the development of the El Pilar copper project in
Mexico.
On Behalf of the Board of Directors
MERCATOR MINERALS LTD.
Per: "Michael L. Surratt"
Michael L. Surratt
President
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Forward Looking Information
This press release contains certain forward-looking statements, which
include estimates, forecasts, and statements as to management's
expectations with respect to, among other things, the size and quality
of the Company's mineral reserves and mineral resources, future
production, capital and mine production costs, demand and market
outlook for commodities, and the financial results of the Company and
discussions of future plans, projections and objectives. In addition,
estimates of mineral reserves and resources may constitute forward
looking statements to the extent they involve estimates of the
mineralization that will be encountered if a property is developed.
These forward-looking statements involve numerous assumptions, risks
and uncertainties and actual results may vary. Factors that may cause
actual results to vary include, but are not limited to, certain
transactions, certain approvals, changes in commodity and power prices,
changes in interest and currency exchange rates, inaccurate geological
and metallurgical assumptions (including with respect to the size,
grade and recoverability of mineral reserves and resources),
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with specifications,
cost escalation, unavailability of materials and equipment, delays in
the receipt of government approvals, industrial disturbances or other
job action, and unanticipated events related to health, safety and
environmental matters), political risk, social unrest, and changes in
general economic conditions or conditions in the financial markets.
These risks are described in more detail in the Annual Information Form
of the Company. The Company does not assume the obligation to revise or
update these forward-looking statements after the date of this press
release or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable
securities laws. For a more complete discussion, please refer to the
Company's audited financial statements and MD&A for the year ended
December 31, 2009 on the SEDAR website at http://www.sedar.com/">www.sedar.com.
For further information:
Marc LeBlanc, VP Corporate Development and Corporate Secretary, Tel: (604) 981-9661, Fax: (604) 960-9661, Email: [email protected].
