SOURCE: Gondwana Energy Ltd.

November 30, 2006 16:00 ET

Gondwana Appoints New Director and President

HELSINKI, FINLAND -- (MARKET WIRE) -- November 30, 2006 -- Gondwana Energy Ltd. (OTCBB: GNWA) is pleased to announce that on November 27th it closed the purchase of FinMetal Mining OY from Mr. Peter Löfberg of Tampere Finland and appointed Mr. Löfberg to our Board of Directors and as our President.

Mr. Löfberg has not had any material direct or indirect interest in any of our transactions or proposed transactions over the last two years. A description of his business experience is set forth below.

Peter Eliel Löfberg is well suited for his leading role as President of FinMetal Mining. A senior executive with an extensive background in chemicals, engineering and corporate management, he served until recently as a managing director at Ligno Tech Finland, a member of Borregaard group, where he helped supervise the chemical division for global markets, importing raw material form Russia, and exporting to 50 countries. Borregaard LignoTech is the world's leading supplier of lignin-based products with 12 plants and a global sales network in Europe, America, Asia and Africa.

Prior to his experience at Borregaard, Mr. Löfberg served as a management consultant at Ab Apofas Oy and from 1988-1990 as a regional manager for the engineering company Insinööritoimisto Kupari Oy. In the mid-1980s and the 1970s, Mr. Löfberg held management positions with such engineering and manufacturing firms as Air-Ix Oy, Artekno Oy and Hämeen Peruna Oy.

Mr. Löfberg's record of professional and civic volunteerism is nearly as extensive as his professional resume. From 2003, he has held the position of Chairman for the energy company of the City of Tampere. He has also served as a member of the Tampere City environmental committee, and as a member of the Tampere city council. From 1986-1988 he was Chairman of the Board for The Central Union of University Engineers and Architects (KAL) and prior to that was a member of the Association of Finnish Forest Industry. He has a Masters of Science degree in engineering from Åbo Akademi KTF. During a tour of duty in the Finnish military in the late 1960s, he served as a second lieutenant.

"We are very excited to have someone of Peter's caliber join our company both as a Director and President. We understand the need for Gondwana to have a top notch President to help guide the company's future growth," stated Dan Hunter, CEO of Gondwana Energy Ltd.

On Behalf of the Board:

Daniel Hunter


This release contains forward-looking statements that are based on the beliefs of Gondwana Energy Ltd.'s management and reflect Gondwana Energy Ltd.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Gondwana Energy Ltd. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements.

Contact Information

  • Contact:
    Gondwana Energy Ltd.
    Suite 700, One Executive Place
    1816 Crowchild Trail N.W.
    Calgary, AB, Canada T2M 3Y7

    B: 403-313-8985
    F: 403-220-1389