February 25, 2008 15:53 ET

Maestro Ventures Announces Key New Board Members, Private Placement of Units

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2008) - Maestro Ventures Ltd. (TSX VENTURE:MAP) (the "Company") is pleased to announce the appointment of Mrs. Ann Carpenter, Mr. Hans Rasmussen and Mr. Kris Kottmeier to the board of directors of the Company.

Mrs. Ann Carpenter is an active geologist with over 25 years of diverse experience in exploration, mineral evaluations, and mine project development, having worked for a number of gold companies and as a consultant to the industry. Most recently, Mrs. Carpenter was as President, Chief Operating Officer and Director of U.S. Gold Corp. from 2005 to 2007. She has been an advocate for the mining industry and has given testimony before the U.S. Congress, and is active with the Women's Mining Coalition and other industry organizations. Mrs. Carpenter received her degree in Geology from Montana State University in 1980, with further advanced geology studies completed at Mackay School of Mines, University of Nevada Reno from 1981-1983. Mrs. Carpenter's expertise in exploration and development of precious metals deposits in the Great Basin will be of great value to the growth of Maestro Ventures Ltd.

Mr. Hans Rasmussen has 24 years experience in the mineral exploration business, including 4 years working for Newmont Exploration in the late 1980's focused on gold exploration along the Carlin Trend, Nevada, and 12 years with the Kennecott-Rio Tinto group focused in the Americas, which also included three years as Country Manager of Argentina and Bolivia. From 2004 to 2007, Mr. Rasmussen worked as consultant for a variety of junior exploration companies in Nevada, Argentina and Chile. Since January 2007, Mr. Rasmussen has been President and Chief Operating Officer of Eaglecrest Explorations Ltd. Throughout his career, Mr. Rasmussen has headed numerous exploration programs for gold and copper in the Great Basin. He brings extensive experience from regional project generation to gold, gold-silver, and gold-copper deposit discovery to the Board of Directors of Maestro Ventures Ltd. Mr. Rasmussen received a B.Sc. in Geology and a B.Sc. in Physics in 1985 from Southern Oregon University and a Masters of Science in Geophysics in 1992 from the University of Utah.

Mr. Kris Kottmeier has been an investor relations & corporate consultant for over twelve years, working with a number of Exchange listed companies in various roles including manager, officer and exterior consultant. Over that time, Mr. Kottmeier developed his experience in finance, corporate communications, corporate branding and database management. Mr. Kottmeier has been chief investor relations consultant to TSX-listed Minera Andes Inc. since 1998. He has been the President and a director of UnityWest Capital Markets Ltd., a private investment and consulting firm, since October 2003. Mr. Kottmeier is currently president of TSX-V listed StoneShield Capital Corp. and was a director of Rockgate Capital Corp. from November 2004 to January 2007. Mr. Kottmeier attended the University of British Columbia from 1993 to 1996 with a focus on languages and business.

The Maestro Board also includes Mr. Allan Williams, Mr. Douglas Hurst, and Mr. Hamish Greig.

Grant of Stock Options

The Company also announces that it has granted incentive stock options for the purchase of a total of 650,000 common shares of the Company at a price of $0.16 each until February 25, 2013. The options are being granted pursuant to the terms of the Company's stock option plan.

Private Placement of Units

The Company also announces a non-brokered private placement of up to 6 million units at a price of C$0.20 per unit for gross proceeds of up to C$1.2 million. Each unit consists of one common share and one nontransferable share purchase warrant, each warrant entitling the holder to purchase one additional share of the Company at a price of $0.25 per share for the first twelve months after the closing of the private placement and at a price of $0.30 for the next twelve months thereafter.

Net proceeds from the private placement will be applied to working capital. A 7% finder's fee in units may be payable, less any proceeds received from insiders of the Company.

The private placement is subject to acceptance by applicable securities regulatory authorities.

About Maestro

Maestro Ventures is a mineral exploration company focused on gold, silver, and copper projects in the Great Basin of Nevada and Utah, USA. The Company holds 8,175 acres of mineral properties including the King's Canyon project in western Utah, containing an inferred historical resource of 6,800,000 tons at a grade of 0.03 oz/ton gold using a cutoff of 0.010 oz/ton (note: the historical resource is not 43-101 compliant). This historic resource is contained in a small area within 500 feet of surface, having the potential to quickly become a significant oxide gold resource. Additionally, Maestro has two other drill-ready projects in Nevada. The Company presently has 17,533,629 shares issued and outstanding.

"Mrs. Carpenter, Mr. Rasmussen, and Mr. Kottmeier all bring considerable expertise and successful track records to the Maestro team. They will be instrumental in guiding our exploration activities and building value for our shareholders at a time where the mining industry is hungry for gold resources," said Allan Williams, President and Director of Maestro Ventures Ltd.

This news is submitted by Allan Williams, President and Director of Maestro Ventures Ltd.

The TSX Venture Exchange has not reviewed and is not responsible for the information contained in this release.

Contact Information

  • Maestro Ventures Ltd.
    Kris Kottmeier
    (604) 506-2502
    Maestro Ventures Ltd.
    Allan Williams
    (604) 787-5653