LionOre Mining International Ltd.

LionOre Mining International Ltd.

December 06, 2006 13:45 ET

LionOre Announces Senior Management Appointments and Formation of New Technology Division

TORONTO, ONTARIO--(CCNMatthews - Dec. 6, 2006) - LionOre Mining International Ltd. ("LionOre")(TSX:LIM)(ASX:LIM)(LSE:LOR)(BSE:LIONORE) today announces the appointment of Gerhard Potgieter as Managing Director, LionOre Africa, Brian Hill as Managing Director, LionOre Australia, and Gary Johnson as Managing Director of a new division called LionOre Technology. All these positions will be effective in early January and will report directly to Peter Breese, Group Chief Operating Officer.

Additionally, LionOre announces it has agreed to acquire all of the issued share capital of Aqueous Metallurgy Pty Ltd. ("Aqueous"), a technology services company which owns the 20% minority interest in Western Minerals Technology Pty Ltd. ("WMT"). WMT is the special purpose company, controlled by LionOre, that owns the Activox® technology and is principally engaged in its ongoing development. Aqueous provides management and technical services to WMT. Completion of this acquisition is expected in the first quarter of 2007.

Commenting on the appointments, Colin Steyn, President and CEO of LionOre, said, "I am pleased to announce that we have recruited extremely high calibre individuals with proven track records of operational excellence and growth, in Gerhard Potgieter and Brian Hill, to head up our operating divisions in Africa and Australia. They will strengthen the existing regional teams, as well as play an integral role in delivering our operational strategies and production growth going forward.

I am also pleased to announce the formation of a new division, LionOre Technology, which is appropriately headed by Gary Johnson. This comes at an opportune time as we implement our Activox® technology at Tati, as well as seek additional opportunities to deliver vertical integration to the group."

Note to Editors:

Gerhard Potgieter joins LionOre Africa from African Rainbow Minerals (ARM), 50% joint venture partner at Nkomati in South Africa, where he was Executive: Operations. Mr. Potgieter has over 20 years of experience in the mining industry and has held a number of executive positions including Senior Vice President: Business Development at Avmin and Senior Vice President: Precious Metals at Anglovaal Mining. Mr Potgieter holds a B.Sc. in mining engineering.

Prior to joining LionOre Australia, Brian Hill was CEO and Managing Director of Equatorial Mining, an ASX-listed copper mining and exploration company. Mr. Hill has over 15 years of experience in the mining industry and has recently held a number of senior positions within Falconbridge, including Managing Director of Falconbridge Australia and Director of New Mine Projects. Mr. Hill holds an MBA and a B.Sc. in mining engineering.

Gary Johnson has worked with LionOre for over seven years as General Manager of WMT. He has over 25 years of experience in metallurgical processing, specialising in hydrometallurgy and has been involved in the development of a number of innovative processes for the treatment of sulphide ores and concentrates, including LionOre's proprietary Activox® technology.

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