Deal Capital Ltd.
TSX VENTURE : DCP.P

June 05, 2007 09:30 ET

Deal Capital to Appoint Bryan Morris as Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2007) -

NOT FOR DISSEMINATON IN THE UNITED STATES OR FOR RELEASE VIA US NEWSWIRE SERVICES

Deal Capital Ltd. (the "Company" or "Deal Capital") (TSX VENTURE:DCP.P) will appoint Mr. Bryan Morris as a Director of the Company upon the closing of the Qualifying Transaction (see news release dated February 23, 2007) to acquire the Santa Gertrudis Gold Deposit in Mexico.

Until his retirement in August 2003, Mr. Morris worked for Teck Cominco Limited as Vice President, Business Development and was responsible for identifying, evaluating and negotiating acquisitions, primarily in the zinc business. Prior to that appointment he had been Vice President, Finance and Director of Cominco Resources International Ltd., the listed international exploration arm of Cominco Ltd., and had held senior positions in Cominco's finance organization. During his career with Teck Cominco Mr. Morris also served as a director of several subsidiary and associated companies. Between 1965 and 1974 Mr. Morris worked in Peru for Cerro de Pasco Corporation and Centromin. He is a Fellow of The Chartered Institute of Management Accountants (UK) and is also a director of several junior mining companies. Currently he is a director and CFO of Andean American and Sinchao Metals; a director of Inca Pacific and Mediterranean Resources and, is a director and CFO of Morgain Minerals until closing of a merger currently underway.

Upon closing of the acquisition of the Santa Gertrudis Gold Project the new Board of Directors of Deal Capital will be comprised of Mr. Greg McKelvey, Mr. Don Ranta, Mr. Bryan Morris and Mr. Mark T. Brown. The officers of the Company that the new Board plans to appoint on closing of the Qualifying Transaction will be Mr. Greg McKelvey, as CEO and President, and Ms. Winnie Wong, CA, as CFO.

The Santa Gertrudis Gold Project

The Santa Gertrudis Gold Project (the "SG Property"), located 180 km north of Hermosillo, Sonora, Mexico, was discovered in 1986 and advanced to open pit heap leach production in 1991. From May 1991 to October 2000, the SG Property produced 564,000 ounces of gold at an average grade of 2.13 grams per tonne. Phelps Dodge sold their part of the SG Property to Campbell Resources Inc. in 1994 for US$10 million. Campbell continued mining and later ceased mining and processing activity due to low gold prices during the late 1990's and settled some outstanding debts by assigning several core area concessions, including the un-mined Cristina deposit, to certain local Mexican contractors ("Lopez-Limon"). The proposed transactions aim to re-consolidate these concessions, which will allow for a district-wide exploration program. Other mineral properties that are part of the SG Property package include the relatively high-grade Amelia Mine and recently staked ground to the west, northwest and southeast of the SG Project's historic workings. The Company will own directly, or have options to earn-in on, a combined holding of approximately 32,600 hectares in the SG Property (125 square miles).

Winnie Wong, President & Director

Deal Capital Ltd. is a Capital Pool Company trading on the TSX Venture Exchange under the symbol "DCP.P".

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Deal Capital Ltd.
    Winnie Wong
    President & Director
    (604) 687-3520
    (604) 688-3392 (FAX)