Lysander Minerals Corporation
TSX VENTURE : LYM

Lysander Minerals Corporation

August 07, 2008 14:27 ET

Lysander Minerals Corporation: Board Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2008) - Lysander Minerals Corporation ("Lysander") (TSX VENTURE:LYM) announces that Mr. Donald D. Sharp C.A. has resigned his seat on the Board of Directors.

The Board and management of Lysander wish to thank Mr. Sharp for his services as a director and former chief financial officer. Latterly Mr. Sharp was very involved in the spin-out to shareholders of shares of Lorraine Copper Corp. ("Lorraine") (TSX VENTURE:LLC), which consolidated the interests of Lysander and Eastfield Resources Ltd. in the Lorraine-Jajay copper-gold prospect in British Columbia. Mr. Sharp continues as a director and chief financial officer of Lorraine as well as of Eastfield Resources Ltd.

Lysander is now focused on developing interests in coal in Ukraine and Canada. It has an option to acquire a 51% interest (which may be increased to 100%) in the Verticalnaya anthracite mine in the Donbass coalfield, near Lugansk, Ukraine.

Plans to reopen the mine on an expanded scale include the driving of new drifts from surface to convey high volumes of product from the mine; constructing a new processing plant; and equipping an existing 1240 meters deep shaft system, which will be in addition to an 840 meter deep shaft system currently in operation for care and maintenance.

A technical report, to be compliant with National Instrument 43-101 is currently in preparation.

Recent additions to Lysander's Board of Directors provide experience and skills which will be invaluable in developing Verticalnaya.

In June 2008, Lysander added to its Board Mr. Charles Pitcher and Mr. John Conlon. Mr. Pitcher is a director and former CEO of Western Canadian Coal Corp. and is a mining engineer and manager with vast experience. Mr. Conlon's directorships include Cambrian Mining PLC, Western Canadian Coal Corp. and Coal International PLC; and he has extensive experience in mining and the financing of mines.

On behalf of the Board,

Bryce M. A. Porter, President and CEO

Contact Information

  • Lysander Minerals Corporation
    Bryce M. A. Porter
    President and CEO
    (604) 681-8069
    (604) 685-4675 (FAX)