Zaruma Resources Inc., (TSXV-ZMR), (the “Company” or “Zaruma”) is pleased to announce the appointment of Keith R. Hulley as a new member of the Board of Directors and Chairman of the Company’s Operating Committee, and J. Robert McNair as the Chief Operating Officer of the Company. The appointments are subject to the approval of the TSX Venture Exchange.
Mr. Hulley is the current Chairman of Gabriel Resources Limited, was formerly the interim CEO, and has been a member of Gabriel’s Board since 2006. Mr Hulley served seven years as President, CEO and Executive Chairman of Apex Silver Mines Limited, retiring in 2004. Mr Hulley has more than 40 years experience in the international mining industry, including Board and Senior Executive positions with Western Mining Holdings Ltd. and USMX Inc. Mr. Hulley replaces Dr. Geoffrey P. Cowley who has resigned as a Director of the Company. Dr. Cowley assisted in the recent completion of the US$55 million in new financing for the Company’s Luz del Cobre copper mining project.
Mr. McNair holds a BSc in Civil Engineering and has had 30 years experience in operations and management in the mining industry, recently in Australia and the Philippines. He has been instrumental in the development and start-up of new mining operations and will be based in Mexico to work on the completion of the development and construction of the Company’s Luz del Cobre Copper Project, an open pit, heap-leach copper cathode operation which is planned to be in production in the first quarter of 2012.
Dr. Thomas Utter, CEO of Zaruma commented: “We are very pleased with the new appointments which will add strength to the team that is very focused on getting the Luz del Cobre Project into production as soon as possible. Senior personnel for the Project have been engaged and by the end of August, all Heads of Departments will be on site. The Engineering, Procurement and Construction Management Contractor, M3 Engineering & Construction, Inc. of Tucson, Arizona and its Hermosillo, Sonora, Mexico office are already at work on the restart of the EPCM aspects of the project”.
Zaruma Resources Inc. is listed on the TSX Venture Exchange, (symbol ZMR) and the Frankfurt Stock Exchange, (symbol: ZMR). Common shares outstanding: 652,320, 285.
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