Orvana Minerals Corp.

Orvana Minerals Corp.

June 06, 2006 09:00 ET

Orvana Announces the Appointment of Two New Directors

TORONTO, ONTARIO--(CCNMatthews - June 6, 2006) - The Board of Directors of Orvana Minerals Corp. (TSX:ORV) ("Orvana" or the "Company") announces the appointment of two new directors, Dr. Peter Bradshaw and Mr. Malcolm King.

Dr. Bradshaw is President, Chief Executive Officer and a director of First Point Minerals Corp. based in Vancouver, British Columbia. Dr. Bradshaw is a mineral exploration geologist with 40 years international mineral exploration experience in over 30 countries with Barringer Research, Placer Dome and First Point Minerals and was one of the original founders of Orvana Minerals. He has been directly involved with discovery, evaluation and/or advancement of a number of gold projects that went from exploration into production including the Porgera and Misima gold mines in Papua New Guinea, the Kidston gold mine in Australia and the Omai gold mine in Guyana.

Dr Bradshaw is also cofounder and first Chairman of the Mineral Deposit Research Unit ("MDRU") at the University of British Columbia. MDRU is a collaborative effort supported by the University, the federal and provincial geological surveys and companies active in mineral exploration. MDRU undertakes research into a wide range of research issues of interest to the industry, including but not limited to geophysics, geochemistry and deposit modeling.

Mr. King is Vice President and Chief Financial Officer of the Company. Mr. King is a Chartered Accountant and holds Master in Business Administration and Bachelor of Commerce degrees from McGill University, Montreal, Canada. He is a past member of the Institute of Certified Management Consultants. He has held senior financial management roles in a number of different industries, including mining, and in two public companies including a directorship in one.

About Orvana

Orvana Minerals is a Canadian gold mining and exploration company based in Toronto, Canada, involved in the evaluation, development and mining of precious metal deposits in the Americas. The Company's primary operation is the Don Mario Mine in eastern Bolivia. Orvana's long-term goal is to become a low cost, long-life, multi-mine gold producer in the Americas. Orvana's shares have been listed on the Toronto Stock Exchange since 1992 under the trading symbol ORV.

Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken or achieved) are not statements of historical fact, but are "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Orvana, or developments in Orvana's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that are based on assumptions about future conditions, courses of action and consequences. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Orvana cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made.
Forward-looking statements relate to, among other things, mineral resource and mineable reserve estimates, production forecasts, future transactions, the successful completion of reclamation projects, future gold prices, the ability to achieve additional growth and geographic diversification, future production costs, accounting estimates and assumptions, future tax benefits, the renewal or renegotiation of agreements, future financial performance, including the ability to increase cash flow and profits, future financing requirements, mine development plans, and possible changes in the regulatory, political, social and economic environment, particularly in Bolivia. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. Some of these risks, uncertainties and factors include the impact or unanticipated impact of: the need to recalculate estimates of reserves and resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; fluctuations in the price of gold; the availability of qualified personnel; risks generally associated with mineral exploration and development, including the Company's ability to acquire and develop mineral properties; the Company's ability to obtain additional financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the jurisdictions where the Company operates, particularly in Bolivia; general economic conditions worldwide and the risks identified below under the heading "Risks and Uncertainties". This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Annual Information Form for a description of additional risk factors. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.

Contact Information

  • Orvana Minerals Corp.
    Malcolm King
    Vice President and Chief Financial Officer
    (416) 369-1629