2014-02-27 13:04:40 -
White Rock, British Columbia CANADA, February 27, 2014 /FSC/ - Orovero Resources Corp. (OVR - TSX Venture, GA0 - Frankfurt"Orovero" or the "Company") is pleased to announce it has appointed Mr. Andrew James Neale to the Board of Directors. Mr. Neale will be replacing Mr. Sean Hurd who has resigned to pursue other interests. The Board wishes to thank Mr. Hurd for his contributions.
Mr. Neale has also agreed to oversee the comprehensive study (the "Study") announced by the Company on February 5, 2014. The Study will be an independent report, utilize several consultants, and is intended for completion in May 2014. It will assist in the Company's efforts to plan, finance, and build the Company's first Latin American tolling
facility. The Company wishes to establish a template for future duplication and believes that the Study can help achieve that.
"I believe Andrew to be the foremost expert in the small mining tolling space. His success in Nicaragua may have created a significant win for his shareholders but it also provided a needed solution to the small mining communities near Bonanza. It was a model of cooperation and worthy of duplication. Our shareholders should be delighted by his appointment and expect great things from us in the future," commented Mr. Len Clough, CEO of Orovero.
Mr. Neale also commented, "The small mining tolling opportunity has been avoided by the majors, and a market leader has yet to be established. It's a multi-billion dollar marketplace, and it's a race to establish a 'standard' milling template for rapid deployment. I believe that Orovero is assembling the right team to do just that and I want to be a part of it."
Orovero also wishes to announce a proposed change of the Company's name to "Standard Tolling Corp." or such other name as the board of directors determines, subject to approval by the TSX Venture Exchange. The Company believes it better reflects its identity and direction.
Andrew James Neale
Mr. Neale is a mining industry executive with over 25 years of experience in international mine operations management, engineering, construction & environmental management, community & government relations; and executive & board level experience with both large and small public companies.
For the past three years, Mr. Neale has been engaged by a private management group to modernize and expand the HEMCO gold mining operation in Bonanza, Nicaragua. After leading the completion of a major hydroelectric expansion project, a modernization of the underground mining operation, an expansion of the milling facilities, and increasing annual gold production by 50%, Mr. Neale assisted the owners with completing a sale of the project to a South American entity that has now taken over management of the mine.
Previously, Mr. Neale served for 12 years with Freeport-McMoRan Copper and Gold Inc., with the last five years as Vice President, Technical Services. Mr. Neale had wide ranging responsibilities with Freeport, including operations management, plant design, engineering & construction, governmental affairs & permitting, and environmental management. Before this, he held various positions with the Falconbridge and Noranda organizations in Canada, including six years with Brenda Process Technology (now a division of Metso Minerals). Mr. Neale has served as a director of Universal Gold Mining Corp., Canadian Ore Processors Corp., Canada Gold Corporation, and Metals Finance Limited. Mr. Neale has a B.Sc. and an M.Sc. in Mineral Processing Engineering from the University of Alberta.
About Orovero Resources Corp.
Orovero is preparing a comprehensive study to develop its first gold ore processing operation in Peru. The Company will look to purchase high-grade ore from small and artisanal miners who are legally compliant, and then process it for sale. The Company's initial focus is Peru but looks to expand with additional facilities throughout Latin America in the future. In addition, the Company has a portfolio of highly prospective exploration properties including its flagship property called Rio Tabaconas located in Northern Peru.
ON BEHALF OF THE BOARD
Mr. Len Clough, Chairman, President, CEO and Director
For further information please contact:
Mr. Shawn Perger, Corporate Communications
Neither the 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.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include, without limitation, statements regarding the Company's plans with respect to statements about the Company's ability to fund and execute the proven ore processing business model outlined in this news release. Although Orovero believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the press release as a PDF, please click on the following link:
Source: Orovero Resources Corp. (OVR - TSXV) www.oroveroresources.com
Maximum News Dissemination by FSCwire. www.fscwire.com