Ferrum Americas Mining Inc.

Ferrum Americas Mining Inc.

July 03, 2013 16:51 ET

Ferrum Americas Mining Announces Appointment of New Director

TORONTO, ONTARIO--(Marketwired - July 3, 2013) - Ferrum Americas Mining Inc. (TSX VENTURE:FEM) ("Ferrum" or the "Company") is pleased to announce the appointment of Ms. Alejandra Kempff to the Company's Board of Directors.

Ms. Kempff, who is based in Bogota, Colombia, brings an in-depth understanding of Latin American governmental affairs to Ferrum.

Most recently, Ms. Kempff was a specialist in the Secretariat for Political Affairs with the Organization of American States ("OAS") and an Analyst-External Relations with the OAS's Mission to Support the Peace Process in Colombia.

She holds a B.A in International Relations from Boston College and an M.A in International Affairs from Johns Hopkins University - School of Advanced International Studies.

"We are delighted to welcome Alejandra to our board of directors," Laurie Curtis, Chairman of the Board commented. "Alejandra brings a wealth of knowledge and relationships throughout Latin America to our board and a deep understanding of the cultural, social and political issues affecting mining investments in the region," he added.

Ms. Kempff's appointment remains subject to the approval of the TSX Venture Exchange.

Board Resignation

The Company also announces that Jordan Kupinsky has resigned from the board. Mr. Kupinsky has been a member of Ferrum's board since its listing in December 2011 and the Company would like to thank him for his invaluable contributions and sound advice during this period.

About Ferrum Americas Mining

Ferrum Americas is focused on developing iron ore projects in the Americas. The Company is targeting high quality deposits that have access to existing transportation infrastructure and have relatively simple beneficiation processing requirements.

Ferrum Americas has rights to acquire a 98% interest in the Cerro Rojo iron ore project in Bolivia. Located 600 kilometres east of Santa Cruz and approximately 55 kilometres from Puerto Suarez and the Hidrovia river system near Corumba, Brazil, Cerro Rojo is a large banded iron formation striking for more than 4 kilometres, according to reports prepared by Rio Tinto in 1999 and verified by Ferrum.

A NI 43-101 mineral resource estimate, prepared by P&E Mining Consultants Inc., includes Indicated resources of 111.0 million tonnes at 48.1% Fe and Inferred resources of 175.9 million tonnes grading 48.8% Fe at a 15% iron cut-off grade.

At a cut-off grade of 50% Fe, Indicated resources are 31.2 million tonnes at 51.5% Fe and Inferred resources are 63.0 million tonnes at 52.0% Fe. The NI-43-101 Technical Report is available at www.ferrumamericas.com.

Ferrum is also evaluating other iron ore opportunities within Bolivia and in neighbouring jurisdictions, where the criteria of low capital costs and simple processing are also met.

Forward-Looking Statements

This news release may contain forward-looking statements that are based on Ferrum Americas Mining Inc.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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 this release.

Contact Information

  • Ferrum Americas Mining Inc.
    Laurence Curtis
    1 289 242 7422

    Ferrum Americas Mining Inc.
    Nick Tintor
    President and CEO
    1 416 987 0855

    Ferrum Americas Mining Inc.
    Leslie Haddow
    Corporate Secretary
    1 416-637-3523