Discovery Ventures Inc.

November 26, 2012 05:00 ET

Discovery Ventures Inc. Announces the Appointment of Walter Marting as a Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce the appointment of Walter (Del) Marting, Jr. as a Director of the Company.

Mr. Marting brings 35 years of experience in mining and mine development to the Company. He obtained his BA from Yale University in 1969, was a member of the Military: US Navy SEAL Team Two Little Creek, VA, LTJG Platoon Officer between 1970 - 1973, and obtained his MBA from Harvard Business School in 1975.

From 1975 - 1977 he held the position of Production Supervisor at Climax Molybdenum Company, Leadville, CO., a division of Amax, Inc., (now part Freeport McMoran, following Cyprus and Phelps Dodge acquisitions). His responsibilities included supervision of underground and open pit mining at the world's largest primary molybdenum producing property. He also had responsibility for production crews and administrative functions involving production planning, budgeting and union negotiations at a facility that employed 1,200 miners, produced 60 million pounds annually of molybdenum and copper byproducts and had annual revenues of $180 million.

From 1977 - 1982 he held the position of Director of Planning at Amax, Inc., Greenwich CT. where he was responsible for operations at Amax's existing worldwide molybdenum properties, and where he was additionally responsible for all strategic planning related to acquisitions and prospective acquisitions of exploration projects. He played an integral role in the planning and permitting of the technically complex Mt. Emmons molybdenum property in Crested Butte, CO. His duties also included the supervision of Amax's annual budget and production planning at two Colorado properties, the Climax Mine and the Henderson Mine. Amex's molybdenum division had annual revenues of $250 million and employed over 5,000 people worldwide.

From 1982 - 1984 Mr. Marting was Vice President of Finance and Administration of Amax's European subsidiary, located in Paris, France. He was responsible for all financial, treasury, accounting, control and administrative functions. Operations included production facilities in Holland, UK and Italy with sales and exploration offices in Germany, Sweden, and Africa. Total sector staffing exceeded 1,200 people.

From 1984-1986 Mr. Marting was President and CEO of the Lucky Chance Mining Company, a Reno, Nevada based gold and silver mining company with properties located in California, Nevada and Arizona. The Company successfully reopened and restarted production facilities at the famed 16-1 mine in Allegheny, CA. This property dates back to California's original gold rush period and was noted for its very high-grade ore - 1.0 au ounce/ton - and for the specimen quality of its gold ore. The mine was eventually sold to Transwestern Mining Co., a subsidiary of New Mexico Power of Albuquerque, NM.

From 1986 - 1992 Mr. Marting was a Principal with L.J. Kaufman and Co, an investment banking firm located in Los Angeles, CA. His primary focus was on venture capital funding of private, early stage companies in aviation and health care.

From 1992 - Present, Mr. Marting is a Principal and Founder of M and M Advisors, Inc., a privately held company located in Reno, Nevada that provides investment banking and financial advisory services to early stage companies in the Western USA.

The Company's President, Mr. Akash Patel states:

"Discovery Ventures is privileged that Mr. Marting, a person with such vast knowledge and experience, has accepted the appointment as a director of the Company. We are very pleased that he has agreed to work with the Company to develop its portfolio of properties."

AKASH PATEL, President

This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.

About Discovery Ventures Inc.

Shares issued: 23,641,749

Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.

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Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

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