Bacanora Minerals Ltd.

June 29, 2011 16:38 ET

Bacanora Announces Appointment of New Director, New Corporate Secretary, Option Grant

CALGARY, ALBERTA--(Marketwire - June 29, 2011) - BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the "Corporation" or "Bacanora") is pleased to announce the appointment of Mr. James Leahy of London, England, as a director of the Corporation. Mr. Leahy will fill the vacancy on the board created by the resignation of Mr. George Jones, a founding shareholder and director of the Corporation. The board of directors wishes to express its utmost thanks and gratitude to Mr. Jones for his years of faithful service during the formative years of the Corporation and to wish him most sincere best wishes in his future endeavours. Although he will no longer serve as a director of the Corporation, Mr. Jones will continue on with the Corporation in a consulting capacity in respect of general corporate structuring and tax matters.

Following a stint on the LME, Mr. Leahy spent the last 26 years in the mining industry as a specialist corporate broker, including mining finance, origination and equity sales. He has worked on a wide range of projects worldwide, ranging from industrial minerals, precious metals, coal, diamonds, iron ore and copper. He has substantial experience in dealing with international institutional fund managers, hedge funds and private equity specialists. Over the years he has been involved in more than 30 IPO's and a large number of primary and secondary placings. He is currently a director of African Power Corporation (APC) and Non-Executive Director of Continental Coal Limited.

Bacanora is also pleased to announce the appointment of Mr. Paul Bolger as the Corporate Secretary of the Corporation. Paul Bolger is a partner with Tingle Merrett LLP, a Calgary-based corporate and securities law boutique firm, with a practice focused on corporate securities, corporate finance and commercial transactions involving emerging, growth and mid-capitalization companies. Mr. Bolger has extensive experience acting for public and private companies in a range of matters including equity and debt financings, public and private corporate acquisitions and business combinations, continuous disclosure obligations, share and asset acquisitions and dispositions, corporate restructurings, amalgamations, reorganizations and other business transactions.

Bacanora also announces the grant of an aggregate of 250,000 options to acquire common shares in the capital of Bacanora at a price of $0.50. Such options (and the common shares issuable upon exercise) are exercisable for a period of 5 years from the date of grant and will be subject to applicable securities law hold periods.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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 the release.

Contact Information

  • Bacanora Minerals Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (403) 237-6122
    (403) 237-6144 (FAX)