Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

April 19, 2012 16:45 ET

Ginguro Announces Board Appointments

SUDBURY, ONTARIO--(Marketwire - April 19, 2012) - Ginguro Exploration Inc. (TSX VENTURE:GEG) announces that, at the Annual and Special Meeting held yesterday, the shareholders of the Company elected a slate of directors consisting of Messrs. Richard Murphy, Wayne Whymark, Guy Mahaffy, Joe Prosperi, Elie Farah and Doug Hunter. Messrs. Murphy, Whymark, Mahaffy, and Prosperi were incumbent members of the board of directors of the Company, while Messrs. Farah and Hunter are new appointments to the board of directors.

Mr. Farah is the President, Director and CEO-Elect of Merus Labs International Inc., a TSX and Nasdaq-listed pharmaceutical company. Prior to Mr. Farah joining Merus in January of 2012, he was President and Chief Financial Officer of Transition Therapeutics Inc. During his time at Transition Therapeutics, Mr. Farah played an instrumental role in the company listing on NASDAQ, completing equity financings, managing and executing multiple company acquisitions as well as licensing agreements with large pharmaceutical companies. Mr. Farah holds an MBA and an MAcc in addition to the following designations: Chartered Financial Analyst (CFA) and Chartered Accountant (CA).

Mr. Hunter is a Professional Geoscientist. He graduated from Carleton University with an Honours B.Sc. & M.Sc. and has been in mining exploration since 1974. His career began with Teck Cominco and Algoma Steel. As a co-founder of Wallbridge Mining, he was part of the management team operating the company's joint ventures with Falconbridge (Xstrata) and Lonmin Plc. in Sudbury, Ontario and he also directed the company's other exploration projects both in Canada and the USA. He has held multiple directorships and worked extensively with junior exploration companies.

Allan Taylor did not stand for re-election as a director at yesterday's shareholder meeting. The Company wishes to thank Allan for his contribution to the Company and wishes him well in his future endeavours.

The Company also announces that is has appointed Mr. Scott Heatherington and Dr. Darryl Long to its Advisory Board.

Mr. Heatherington, who holds a BA in Political Science from Queen's University, joined the Canadian Federal Department of Manpower and Immigration in 1971 and has served abroad in Hong Kong, Moscow, Bangkok, London and Bonn. At Headquarters, he served as head of the Orders-in-Council Unit, as intelligence analyst with the Facilitation and Enforcement Branch, as director, Refugee Policy, and as director, Strategic Direction within the Strategic Policy, Planning and Research Branch. He served on secondment with the Department of External Affairs and International Trade from 1983 to 1985 as deputy director, Immigration, Visitor and Enforcement Section, and from 1988 to 1990 as deputy director for Refugee and Humanitarian Programs. Mr. Heatherington moved to the Department of Foreign Affairs and International Trade in 2000 as director of Foreign Intelligence. Mr. Heatherington served as Canadian Ambassador to Latvia, Lithuania, and Estonia from July 2008 to December 2011.

Dr Long, who holds a B.Sc. (Hons) from Leicester University (UK) and both an M.Sc. and Ph.D. from the University of Western Ontario (London ON), is a Full Professor at Laurentian University in Sudbury, where he currently teaches Sedimentology and Basin Analysis. Dr. Long moved to Laurentian in 1981 after a brief period working as an NSEC Post Doc at GSC Calgary (Precambrian Section). He has worked extensively on Modern and Ancient Fluvial Systems, Carbonate and Clastic shelves, Hydrocarbons, Industrial Minerals, Basin Analysis and Glacial Geology. He was awarded the Canadian Society of Petroleum Geologists Douglas Medal in 2012 for outstanding contributions to the understanding of sedimentary geology in Canada, and his contributions to regional tectonics through basin analysis. Dr Long has studied aspects of the Stratigraphy and Sedimentology of the Huronian Supergroup for 43 years, including work on paleo-placers in the 1980's and in 2009-11. His work on basin architecture and the small scale architecture of pre-vegetation fluvial systems is of direct relevance to Ginguro's work on the Pardo paleo-placer deposits, as is his work on gold-diamond placer deposits in the Roraima Supergroup, and Uranium systems in the Athabasca Group.

The Company also announces that it has granted 1,100,000 options to purchase shares of the Company, at a price of $0.11 per share for a period of 3 years, to certain directors, officers, and employees of the Company.

About Ginguro

Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its Pardo paleo-placer gold property, located in Pardo Township in northern Ontario and of its El Alto IOCG property located north-west of Santiago, Chile. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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

  • Ginguro Exploration Inc.
    Richard Murphy
    President and CEO
    (705) 222-8800
    info@ginguro.com