MINDORO ANNOUNCES MANAGEMENT CHANGES
EDMONTON, August 28 /CNW/ - Mr. Tony Climie, President of Mindoro
Resources Ltd. (the ``Company''), is pleased to announce the following changes
and additions to the management team:
Rodney G. Orr, formerly Vice President Exploration of the Company, has
been appointed Senior Vice President, reflecting increased executive
responsibilities which have been assumed by Mr. Orr. This will provide
management continuity while Mr. Climie is offshore supervising the Company's
Asian subsidiaries and operations.
Penny M. Gould, formerly Manager, Corporate Affairs, has been appointed
Vice President, Corporate Development and also assumes the role of Corporate
Secretary. Ms. Gould will be responsible for administrative and corporate
matters as well as investor relations.
Ronald W. Avery, B.Sc. B.A., is joining the Company as Exploration
Manager. Mr. Avery has 11 years experience as an exploration geologist with
major international companies. Initially, Mr. Avery will manage the company's
Myanmar Concession No.11 project, on which the Company recently assumed
operatorship. He will also be involved in the supervision of its Philippines
and Indonesian projects. Mr. Avery's appointment further strengthens the
Company's technical team and reinforces its emphasis on providing direct
hands-on management of its mineral exploration projects throughout Asia.
Mr. Francisco L. Comsti, Jr., B.Sc., has been appointed Vice President
and Director of MRL Gold Phils., Inc. (``MRL''), the Company's wholly-owned
subsidiary in the Philippines. Mr. Comsti is a resident Filipino and has 21
years mineral exploration experience in Asia and Australia, including eight
years with the Bureau of Mines and Geo-Sciences in the Philippines. Mr.
Comsti will supervise MRL's operational and administrative interests based
out of its Manila office and will report to Mr. Climie, who has been appointed
MRL's President and Director. The following persons have also been appointed
Officers and Directors of MRL Gold Phils., Inc.: Rodney G. Orr, Chairman of
the Board and Director; Roderick R.C. Salazar III, Corporate Secretary and
Director; and Roberto M. Santos, Treasurer and Director.
MRL currently has six gold exploration projects in the Philippines. Work
is in progress on three of these projects and will soon commence on two
additional projects. MRL expects to have drill targets defined by early 1998.
Mindoro Resources Ltd. is a Canadian mineral exploration company focusing
on gold and gold-copper exploration in Asia. Exploration is in progress on
projects in the Philippines, Myanmar, and Indonesia. The Company has working
capital of approximately $4,400,000.
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
-0- 08/28/97
For further information: MINDORO RESOURCES LTD., Rodney Orr, Senior Vice President; Penny Gould, Vice President, Corporate Development, (403) 413-8187, Facsimile: (403) 426-2716, E-mail: mindoro(at)mindoro.com, Website: mindoro.com |
