Consolidated Thompson Iron Mines Limited

Consolidated Thompson Iron Mines Limited

April 17, 2007 14:27 ET

CLM Announces New Chairman and New Chair of Advisory Board

TORONTO, ONTARIO--(CCNMatthews - April 17, 2007) - Hon. Brian Tobin, Chairman of Consolidated Thompson Iron Mines (TSX VENTURE:CLM) has today announced that Bruce Humphrey has joined CLM's Board and will immediately take up duties as Chairman. In addition, Pierre Lortie, O.C., has joined CLM's Advisory Board and assumes duties as Chairman, Quebec.

"Bruce brings a lifetime of mining industry experience, including as a former COO at Goldcorp and most recently as President and CEO of Desert Sun Mining prior to its sale to Yamana Gold. Pierre's business experience is vast. He is a former President of the Montreal Stock Exchange and a former President and COO of Bombardier International and Bombardier Transportation. The addition of both Bruce and Pierre is timely as this summer, subject to approval of all permits, we will begin the process of building a 330 million dollar US iron ore mine and related facilities at Bloom Lake, Quebec," said Mr. Tobin.

"There are no other Board changes and I will now take up duties as Vice Chairman and focus my attention on government regulatory matters. My fellow directors and I welcome Bruce and Pierre to the CLM team as we continue our focus on building shareholder value", commented Mr. Tobin.

Mr. Humphrey has been granted share purchase options to acquire up to 150,000 CLM common shares under the company's stock option plan.

Cautionary Note Regarding Forward-Looking Information: This press release contains "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, the timing and amount of, and expenses related to, estimated future production, government regulation of mining operations, and the impact of board and management appointments on the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; changes in project parameters as plans continue to be refined; delays in obtaining governmental approvals or required financing or in the completion of development or construction activities, as well as those factors discussed in Company's annual information form for the year ended June 30, 2006. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.


Contact Information

  • Consolidated Thompson Iron Mines Ltd.
    Hon. Brian Tobin, P.C.
    (514) 249-6320
    Consolidated Thompson Iron Mines Ltd.
    Richard Quesnel
    President and CEO
    (514) 249-6320
    Consolidated Thompson Iron Mines Ltd.
    Julian Bharti
    Business Development Manager
    (416) 930-8558