See this one??? (COMTEX) B: Michael J. Hopley Appointed Vice President, Exploration o
B: Michael J. Hopley Appointed Vice President, Exploration of Cerro Dorado,
Inc.
SALT LAKE CITY, Oct 4, 1999 (BUSINESS WIRE) -- Cerro Dorado, Inc.
(CDCH on OTC-BB) is pleased to announce the appointment of Michael J.
Hopley to the position of Vice President, Exploration, effective
October 1, 1999.
Michael brings, to the Company, over 25 years' geologic exploration and
management experience gained in Europe, North & South America. He has
particular expertise in managing large-scale precious and base metal
exploration programs in Latin America.
Michael currently is serving as the President & CEO of Fremont Gold
Corp., a publicly traded exploration company. Over the past 3 years, he
has raised over US$4 million and acquired seven properties in Chile for
this company.
Prior to joining Fremont Gold, Michael worked for Bema Gold as VP,
Exploration (1990-95) and VP, Corporate Development (1995-96). During
that time, Michael managed all exploration activities in North and
South America for Bema Gold and four active subsidiaries (Arizona Star
Resources; El Callo Mining; Puma Minerals; Victoria Resources), with
annual exploration budgets ranging from US$2 million to US$10 million
per company. Major exploration successes during Michael's tenure
include the Refugio gold mine in Chile (3,000,000 oz Au reserves;
operating since 1996). The world-class Cerro Casale discovery (joint
ventured with Placer Dome; resource of 25 million oz Au and 6 billion
lbs. Cu), and Lo Encreible in Venezuela (2,000,000 oz Au resource -
feasibility study in progress).
In his role as Bema Gold's Vice President, Corporate Development,
Michael was responsible for identifying and negotiating with
prospective joint venture partners on properties owned by the Bema
Group of companies, in addition to serving as a liaison with mining
analysts, fund managers and shareholders.
During the course of his professional career, Michael has worked for a
number of operating mining companies, including Consolidated Gold
Fields, Bema Gold, and Gold Fields Mining. He has also served as a
consultant to many junior exploration and development companies.
Michael holds a B.S. degree in Geology (Honors) from London University
in England, and is a Fellow of the Geological Association of Canada.
Michael's initial assignment will be to assist Cerro Dorado, Inc. and
Medinah Mining, Inc. (on a consulting basis) in negotiations with major
mining companies that have expressed a serious interest in a
comprehensive joint venture and financing agreement for Cerro Dorado,
Inc. and Medinah Mining, Inc.'s Alto de Lipangue properties located
near Santiago, Chile. The Company expects both its exploration and
business development activities in Chile will greatly benefit from
Michael's involvement in the Company.
On behalf of the Board of Directors
Per: Richard W. Cahoon, President
For further information, contact Investor Relations at (801) 484-2668
Note: This News Release may contain certain "forward-looking
statements" within the meaning of the United States Securities Exchange
Act of 1934, as amended. All statements, other than statements of
historical fact, included in this release, including, without
limitation, statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Cerro Dorado
Inc. are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future could differ
materially from those anticipate in such statements. Important factors
that could cause actual results to differ materially from the Company's
expectations are disclosed under the heading "Risk Factors" and
elsewhere in documents filed from time to time with the United States
Securities and Exchange Commission and other regulatory authorities.
Trading OTC/BB
Symbol CDCH
Cusip# 156834
Tel: (801) 484-2668
Fax: (801) 486-3633
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Investor Relations
801/484-2668
WEB PAGE: businesswire.com
GEOGRAPHY: UTAH
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