Horizonte Minerals

Horizonte Minerals

June 29, 2011 07:00 ET

Horizonte Minerals Appoints Brazil General Manager

TORONTO, ONTARIO--(Marketwire - June 29, 2011) - Horizonte Minerals (TSX:HZM)(AIM:HZM) ("Horizonte" or "the Company") is pleased to announce the appointment of Mr. Paul Nagerl as General [Exploration] Manager in Brazil with immediate effect. His appointment complements Horizonte's exploration and development management team which are actively advancing the Company's flagship Araguaia Nickel project ('Araguaia') and gold portfolio in the prospective Carajas mining district of north central Brazil.

Mr. Nagerl is an accomplished registered geologist with 24 years of experience in the mineral resource industry, including international experience in general consulting, strategic development, project review, evaluation and management. He also has strong technical expertise and business development acumen having served as an Executive Director for a number of companies. He has extensive Brazilian mining experience having established Falconbridge Brazil Ltda in South America, and initiated and successfully implemented nickel and Platinum Group Element exploration programmes in Brazil that resulted in the discovery of the Serra de Tapas nickel laterite project in Araguaia. Furthermore, Mr. Nagerl was involved in the development and management of the Sechol nickel laterite deposit in Guatemala for Jaguar Nickel that was sold to BHP Billiton.

Commenting, Horizonte Chairman David Hall said, "We are delighted to have Paul join the expanding Horizonte team. The ability of Horizonte to attract a person of Paul's calibre speaks highly of the Company's growing reputation and the quality of our Araguaia nickel project in Brazil, which has a mineral resource of 76.6 million tonnes at 1.35% nickel and 0.06% cobalt. Paul will be intimately involved in developing Araguaia towards defining an estimated mineral resource in excess of 100 million tonnes and in turn, towards a pre-feasibility and subsequent feasibility stage. In addition, he brings his wide ranging skills to support our other exploration activities in Brazil, including our Falcao gold project where we have initiated a 3,000m drilling campaign to ascertain the economic potential of the project."

Qualified Person:

Marc-Antoine Audet, a qualified person under National Instrument 43-101, has supervised the preparation of the technical information in this press release.

The inferred mineral resources for the Araguaia project are based on the technical report prepared for the Company entitled "Geology and Mineral Resources of the Araguaia Nickel Project, Brazil NI 43-101 Technical Report" by Marc-Antoine Audet, James Hogg and Owen Mihalop dated May 15, 2011 (the "Technical Report"), filed on SEDAR at www.sedar.com. Further information in respect of the inferred mineral resources on the Araguaia project including, assumptions, parameters and methods used to estimate such mineral resources is included in the Technical Report.

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX listed exploration and development Company with a portfolio of nickel and gold projects in the Carajas District of Brazil. The Company is focussed on creating value by generating and rapidly advancing exploration projects in tandem with joint ventures with major mining companies, providing mid-term cash flow, which is then used to develop the business and pipeline projects.

Horizonte has two committed major mining partners: Teck Resources Limited, a major strategic shareholder in the Company, and AngloGold Ashanti Limited, a JV partner on the gold portfolio.

Horizonte owns 100 per cent of the advanced Araguaia nickel project located to the south of the Carajas mineral district of northern Brazil.; the project has the potential to deliver a resource with size and grades comparable to other world-class projects in northern Brazil.

In addition, Horizonte and AngloGold Ashanti have a US$5.3 million exploration alliance to generate and develop new and existing gold targets within two areas of Brazil and a further JV with the major whereby AngloGold Ashanti can earn into 51% of the Falcao gold project by expending US$4.5 million over three years with the right to earn a further 19% by taking the project to Pre-feasibility Study.

Horizonte is well funded to accelerate the development of its core projects.

For further information visit www.horizonteminerals.com.


Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In addition, statements relating to "mineral reserves" or "mineral resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the mineral resources and mineral reserves described can be profitably mined in the future.
Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to
known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information

  • Horizonte Minerals plc
    Jeremy Martin
    +44 (0) 20 7763 7157

    Horizonte Minerals plc
    David Hall
    +44 (0) 20 7763 7157

    Horizonte Minerals plc
    Joanne Jobin
    North American Investor Relations
    647 964 0292

    Panmure Gordon (UK) Limited
    (Nomad and Broker)
    Dominic Morley
    +44 (0) 20 7459 3600

    UK Investor Relations
    Felicity Edwards
    +44 (0) 20 7236 1177