Vancouver, British Columbia–(Newsfile Corp. – January 25, 2013)-Patriot Minefinders Inc. (OTCQB: PROF) (Patriot,or the Company).
Announcement Highlights:
American citizen with international experience in thenatural resource space includinggold and silver explorationFortune 100 experience at a national levelAppointment comes during period of growth forPatriotPatriot Minefinders (Patriot) is pleased to announce theappointment of Mr. John LaGourgue to the companys Board ofDirectors, effective Jan 22, 2013. Patriots current board ofdirectors is comprised of Fred Tejada, Fred Sveinson, JohnSchweitzer, Justin Blanchet, Michael Hofer, Perparim Alikaj andJohn LaGourgue.
Mr. LaGourgue is an experienced businessman in the naturalresource industry with experience both internationally and in NorthAmerica.
Mr. LaGourgue’s past experience includes leadership roles in theoil and gas industry and as the Chief Executive Officer of aCanadian based gold and silver exploration company. Mr. LaGourguehas Board experience on public companies in both the United Statesand Canada. In addition to his work in the gold, silver, and oiland gas sectors, his Fortune 100 experience includes a previousnational management position at EMC Corporation. Mr. LaGourgue isan American citizen and graduated from the University of Hawaii,with a Bachelor’s degree in Finance, with Honors.
Mr. LaGourgues appointment comes as the company pursues anactive path of advancing its business plan to become a major silverand gold exploration company in Mexico. Patriots focus is on theKM 66 project that includes a silver-gold deposit with historicresource (N1 43-101 technical report prepared in 2008) located inthe mining friendly and prolific silver belt in the state ofDurango, Mexico.
In 2013 Patriot plans to update the historic resource at KM 66to current NI 43-101 standards and carry out a preliminary economicassessment to determine the potential economics of the project, inaddition to drilling in the resource area to expand the resourcebase and exploration drilling elsewhere on the 13,400 hectareproperty. The work program in 2013 will be managed by BearingResources Ltd., the company’s partner on the project. Under theterms of the LOI (see press release November 28, 2012) Patriot hasthe option to earn up to a 75% interest on the project. Bearing hassignificant experience in the area and has a technical team on theground which makes this arrangement beneficial to Patriot at thisstage of work.
About Patriot Minefinders Inc.
Patriot is operated by a management team consisting ofindividuals with a track record of success in mining exploration,development and production. Patriot is an exploration companyfocused on the development of gold and silver deposits in the knownmining districts of Mexico. The execution of a Definitive Agreementon the KM 66 Project with Bearing Resources Ltd. will turn Patriotinto a major explorer in the prolific silver-gold belt of CentralMexico. Patriot trades under the symbol PROF.
Fred Tejada, P.Geo, Director of Patriot, is a qualified personwithin the context of National Instrument 43-101, has reviewed andtakes responsibility for the technical content of this newsrelease.
On behalf of the Board
John H. Schweitzer
JOHN H. SCHWEITZER, CEO & Director
Patriot Minefinders Inc
700 – 510 West Hastings Street
Vancouver, B.C., Canada V6B1L8
John LaGourgue
Tel. 604-687-7160 Fax. 604-687-7165
Email:[email protected]
Website:www.patriotminefinders.com
Notice Regarding Forward-Looking Statements
This current report contains “forward-looking statements,” asthat term is defined in Section 27A of the United States SecuritiesAct of 1933 and Section 21E of the Securities Exchange Act of 1934.Statements in this press release which are not purely historicalare forward-looking statements and include any statements regardingbeliefs, plans, expectations or intentions regarding the future,including but not limited to, any mineralization, development orexploration of the La Buena Project, any geological similaritieswith the Penasquito deposit or other properties in the region, andthe timing of any work program or exploration activities, and anyresults that may be obtained.
Actual results could differ from those projected in anyforward-looking statements due to numerous factors. Such factorsinclude, among others, the inherent uncertainties associated withmineral exploration and difficulties associated with obtainingfinancing on acceptable terms. We are not in control of metalsprices and these could vary to make development uneconomic. Theseforward-looking statements are made as of the date of this newsrelease, and we assume no obligation to update the forward-lookingstatements, or to update the reasons why actual results coulddiffer from those projected in the forward-looking statements.Although we believe that the beliefs, plans, expectations andintentions contained in this press release are reasonable, therecan be no assurance that such beliefs, plans, expectations orintentions will prove to be accurate. Investors should consult allof the information set forth herein and should also refer to therisk factors disclosure outlined in our most recent annual reportfor our last fiscal year, our quarterly reports, and other periodicreports filed from time-to-time with the Securities and ExchangeCommission.
