NEW YORK, May 1 /PRNewswire-FirstCall/ -- Dominion Minerals Corp. (OTC: DMNM) ("Dominion" or "the Company") is pleased to announce the appointment of James Gorman to the position of Chief Operating Officer and Managing Director of Cerro Chorcha, effective immediately. Mr. Gorman will relocate to Panama, where he will be directly responsible for the development of the Cerro Chorcha deposit, working closely with the Company's partners at Bellhaven Copper & Gold, Inc.
James (Jim) Gorman is a seasoned mining executive with significant experience in developing large-scale copper mining projects to commercial production. Until recently, he served as Managing Director of Nikanor PLC, a company valued at over $2 billion when merged with Katanga Mining in the C$3.3 billion merger completed earlier this year. At Nikanor, Jim was directly responsible for the development of the world richest copper mine (KOV) in the Democratic Republic of Congo, and instrumental to the success of the Company's $440 million IPO on AIM in 2005. Prior to that, Mr. Gorman worked for First Quantum Minerals as General Manager responsible for the development of the Company's Kansanshi mine in Zambia. Under Mr. Gorman's stewardship, the Kansanshi mine was built and developed in record time from greenfield to a fully integrated mining operation Kansanshi is currently estimated to produce in excess of 180kt of Copper metal this year for First Quantum.
Mr. Gorman has already spent extensive time on-site in Panama and with Dominion's and Bellhaven's management teams, providing hands-on input into determining the strategy for the upcoming drilling campaign.
Pini Althaus, President and CEO of Dominion Minerals, said: "We are extremely excited that Jim has joined our team. Cerro Chorcha continues to make excellent progress and we are expecting an updated NI 43-101 report, reflecting the results of our successful 2007 drilling program, to be published in May. Jim has an impeccable and proven track record of developing large-scale copper deposits all the way through to commercial production, and he brings exceptionally relevant experience to Cerro Chorcha and Dominion at the right time.
As Dominion is preparing for a capital raising to fund its drilling and development program for the next 18 months, this appointment is an important step to taking Cerro Chorcha to the next level."
James Gorman said:" I am very enthusiastic about joining Dominion and taking direct responsibility for this deposit. Panama has vast, untapped resource potential and Cerro Chorcha is a prime asset in this emerging mining frontier. I am particularly excited about the opportunity to exploit and fast- track the high-grade zone identified in the recently concluded drilling program."
Excellion Capital is acting for Dominion Minerals in connection with its capital raising.
About Dominion Minerals Corp.
Dominion Minerals Corp. is a US-based copper and gold exploration and development company focused primarily on its Cerro Chorcha Porphyry Copper Project in Panama. For more information please visit
http://www.dominionminerals.com.
About James Gorman
James Gorman graduated as a mining engineer from Strathclyde University and is a registered professional engineer. He has 39 years of professional production, technical and executive management experience in the mining industry. Prior to his tenures at Nikanor and First Quantum (see above), James held multiple senior executive management positions including, amongst others, 20 years of work experience RTZ (Rio Tinto Zinc), ultimately as Director of Palabora Mining in South Africa. Mr. Gorman was also a Director of the Copper Institute in New York and has previously also been a mining consultant with SRK Consulting.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address continuing to Canada, exchange listing application, additional financing, seeking and acquiring new projects and gaining recognition are forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, the market price of gold, general economic conditions, market and business conditions, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to the Company's plans at its mineral properties, the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal recoveries, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis, the effect of hedging activities, including margin limits and margin calls, regulatory restrictions, including environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees.
Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. In addition, the Company's business and operations are subject to the risks set forth in the Company's most recent Form 10-KSB, Form 10-QSB and other SEC filings which are available through EDGAR at
www.sec.gov. These are among the primary risks we foresee at the present time. The Company assumes no obligation to update the forward-looking statements.
For further information please contact:
Dominion Minerals
Pini Althaus, President & CEO
Tel: +1 212 231-8171
Excellion Capital
Robert Stafler, Partner
Tel: +44 203 008 6875
