Dagilev Capital Corp.

April 27, 2010 08:01 ET

Dagilev Capital Announces Emilio Hormaeche Appointed as President and Director of the Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2010) - Dagilev Capital Corp. (TSX VENTURE:DCC) ("Dagilev" or the "Company") is pleased to announce that Mr. Emilio Hormaeche Bigorra has been appointed President of the Company and will stand for election as Director at the Annual General Meeting on May 31, 2010.

"Emilio has been involved in the development of almost every mine project in Spain over the last 20 years. We look forward to working with Emilio and building a partnership with the local communities in the region of Asturias to develop the Salave deposit," states CEO Cary Pinkowski.

Mr. Hormaeche's career in mining includes experience with property acquisitions, permitting, construction of plants and mills, production and all other intermediate steps. He has worked with base metals, gold and industrial minerals. Emilio was Project Manager for Tasiast Gold Mine, a cornerstone asset of Red Back Mining (TSX:RBI), where he managed the construction of the entire mining complex with local assistance in Mauritania within an US$80 Million budget. He was Project Manager for Aguablanca, a key asset of Lundin Mining Corp. (TSX:LUN)(OMX:LUMI) in Spain from permitting through production. Mr. Hormaeche is particularly suited to work on the Salave project given his direct experience in the area, and his involvement with Salave's previous metallurgical work and economic studies. He lives in Oviedo, Spain which is 1.5 hours drive from Salave.


Dagilev (to be renamed Astur Gold) is focused on developing its 100% owned Salave Gold Project in northern Spain. Salave is one of the largest and highest grade undeveloped gold deposits in Western Europe. The Property has a recently updated NI 43-101 compliant gold resource of 1,683,000 oz Measured and Indicated with an additional 338,000 oz Inferred. The property is subject to NI43-101 report, "Technical Report on Salave Gold Deposit, Spain", by Scott Wilson RPA, March 5, 2010, which is available on the SEDAR website, www.sedar.comThere is excellent exploration potential with four of the principal high grade zones of mineralization open at depth and there are additional exploration areas to the West that have never been tested. Previous metallurgical tests indicate recovery in the order of 90% and the region has excellent infrastructure and a history of mining. At the May 31st AGM, the Company will seek approval from shareholders to change its name to Astur Gold Corp to reflect the nature of the Company's business.

In August 2005, the Regional Government of Asturias halted open-pit project development of Salave due to the introduction of certain zoning legislation. Immediately after, legal proceedings were commenced by Dagilev's predecessor against the government seeking reversal of the decision or monetary compensation of €320,000,000. The legal proceedings are on-going, however, the cash award ruling is anticipated to be completed by the end of 2010. Dagilev would receive 50% of any cash award after a deduction of the upfront payment, as well as litigation and court related costs incurred by Dagilev between April 13, 2010 and the time of settlement or final judgment in the lawsuit.


Cary Pinkowski, Chief Executive Officer and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Dagilev Capital Corp.
    Cary Pinkowski
    Chief Executive Officer and Director
    (604) 694-1600
    (604) 694-1663 (FAX)
    Dagilev Capital Corp.
    #300-1055 West Hastings Street
    Vancouver, B.C., V6E 2E9