Scandinavian Minerals Limited

Scandinavian Minerals Limited

October 04, 2007 17:08 ET

Scandinavian Minerals Announces Senior Management Appointments

- Matti Pulkkinen - Mine Superintendent - Reijo Anttonen - Senior Technical Consultant

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2007) - Scandinavian Minerals Ltd. (TSX:SGL) today announced the appointment of Mr. Matti Pulkkinen as Mine Superintendent for the Company's 100%-owned Kevitsa nickel-copper-PGE project in Finland. Mr. Pulkkinen graduated in 1979 from Helsinki University of Technology with a Master's degree in Mining Technology. He has worked as a mining engineer at several mines in Finland for Outokumpu Mining Oy, including the Enonkoski nickel mine. He has also held a number of senior level appointments at the Sandvik-Tamrock Group of mining equipment companies. Most recently, he worked as Mining Engineer at Inmet Mining Corporation's Pyhasalmi copper mine in Finland. Mr. Pulkkinen will be responsible for all aspects of mine design, operation and planning for the Kevitsa project.

Scandinavian Minerals also announced the appointment Mr. Reijo Anttonen as Senior Technical Consultant. He will oversee the ordering, construction and commissioning of the processing plant for the Kevitsa project. Mr. Anttonen graduated in 1975 with a degree in Mineral Technology from Helsinki University of Technology. Since then, he has amassed over 30 years experience with the Outokumpu Group of companies. Most recently, he was Vice President, Projects & Technology for Outokumpu Mining Oy. Mr. Anttonen has worked as plant manager and general manager at a number of base and precious metal mines in the Nordic region. He has extensive experience in the development of mine projects from feasibility through to operation.

Mr. Peter Walker, President & CEO of Scandinavian Minerals, said, "We are delighted to welcome Matti and Reijo to the Company. They bring with them many years experience of mine and plant operations in Finland and other Nordic countries. Their combination of metallurgical and mining expertise will play a crucial role in bringing the Kevitsa project into production".

Scandinavian Minerals also announces that the Board has approved the grant of stock options on a total of 60,000 shares exercisable at $6.25 per share for a period of five years and a further 50,000 shares exercisable at $6.90 per share, respectively to two employees, subject to shareholder and regulatory approval.

The Kevitsa project - an overview

Kevitsa, situated in northern Finland, is one of the world's major undeveloped sulphide nickel deposits and one of the largest mineral discoveries in Finland's history. The Kevitsa deposit is easily accessible by road. Water and hydroelectric power are available nearby.

In April 2007 Scandinavian Minerals commenced the Feasibility Study for the Kevitsa project. The Study is being coordinated by St Barbara LLP (formerly St Barbara Consultancy Services) of London, UK. The metallurgical process has been developed by the Mineral Processing Laboratory of the Geological Survey of Finland. Plant engineering and design is being performed by Outotec Oyj. The Feasibility Study is expected to take approximately 12 months to complete.

The Study is based on an open pit operation mining approximately 5 million tons per year of ore, with production of nickel and copper concentrates for sale to local or overseas smelters.

About Scandinavian Minerals

Scandinavian Minerals Limited is a Canadian public company listed on the Toronto Stock Exchange under the symbol "SGL" and on the Frankfurt Vreiverkehr market under the symbol W3M. The Company's current focus is the development of its 100%-owned Kevitsa nickel-copper-PGE project in northern Finland.

Forward-Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

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Contact Information

  • Scandinavian Minerals Ltd.
    John Kearney
    (416) 203-6128
    (416) 368-5344 (FAX)
    Scandinavian Minerals Ltd.
    Chris de Saint-Rome
    Corporate Development Advisor
    (514) 802-3377
    Scandinavian Minerals Ltd.
    Peter Walker
    President & CEO
    (+44) 7717-223909
    Studer Consulting AG
    Marlies Studer
    (+41) 44 215 2803