Deal Capital Ltd.

April 18, 2007 12:29 ET

Deal Capital to Appoint Greg McKelvey as President and Director

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2007) - Deal Capital Ltd. ("the Company" or "Deal Capital") (TSX VENTURE:DCP.P) has agreed to appoint Mr. Gregory E. McKelvey as the President, Chief Executive Officer and Director of the Company upon the closing of the Qualifying Transaction (see news release dated February 23, 2007).

Mr. McKelvey, MS. Geol., has more than forty years of extensive, international experience in Latin America, Africa, and Europe in expanding responsibilities for significant mining companies such as Kennecott, Cominco, Homestake, and Phelps Dodge. He also acts as an Adjunct Faculty member at the University of Arizona in their International Center for Mining Health, Safety and Environment and worked for the USGS in Latin America. He has also consulted for Lundin, Codelco, Phelps Dodge, Newmont Mining, Gerald Metals and Quadra Mining.

Mr. McKelvey has successfully directed and led innovative exploration efforts, resulting in the discovery and identification of several major ore deposits. He participated in or led the teams that discovered Sossego (Cu/Au) in Brazil; Sheep Creek (Zn, Cu, Co) in Montana; Spar Lake-Cabinet Mts. (Cu, Ag) in Montana; Sechura, (P2O5) in Peru; extensions of the Punta de Cobre (Cu/Au) deposits in Chile; extensions of ore at Chino (Cu) in New Mexico; the Codelco IOCG discovery in Brazil, and the recent new porphyry copper center at Sierra Gorda in Chile.

Well known in the minerals exploration industry, Mr. McKelvey has led extensive contract negotiations, including agreements for land, mineral rights and leasing positions, joint ventures and acquisition contracts and worked with domestic and foreign governmental agencies for land use planning, permitting, and project development. He also participated in formulating and implemented strategic and tactical exploration plans for four different international mining / exploration companies and developed a resource-based metal market mine closure prediction system to assist in longer-term mine development planning. He completed several mineral business entry strategy plans for adding diversification to emerging third world countries.

"I am excited to have the opportunity to lead a top notch team of experienced professionals to add both near-surface gold, and target the deeper potential, in the consolidated Santa Gertrudis Carlin-like gold deposits within the Santa Teresa Mining District. These deposits, and the open lateral and deeper extensions, offers significant upside potential to expand the historic resource as outlined in our news release NR07-01 on February 23, 2007. It is not often that a productive district this size is open for new ideas combined with the careful integration use of historic and new data to target and extend the often large sediment-hosted Carlin-like gold deposits," commented Mr. McKelvey.

The Santa Gertrudis Gold Project

The Santa Gertrudis Gold Project (the "SG Property"), located 180 km north of Hermosillo, Sonora, Mexico, was discovered by Phelps Dodge ("PD") 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. PD sold part of the SG Property to Campbell in 1994 for US$10 million. Campbell 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 Amelia Mine had historically produced over 1 million tonnes at 2.88g Au/tonne.

The Company will own directly, or have options to earn-in on, a combined holding of approximately 34,800 hectares in the SG Property (130 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)