Mano River Resources Inc.
TSX VENTURE : MNO
AIM : MANA

Mano River Resources Inc.

May 13, 2009 09:00 ET

Mano River Resources Inc.: Board Appointment

LONDON, UNITED KINGDOM--(Marketwire - May 13, 2009) - Mano River Resources Inc. ("Mano" or the "Company") (TSX VENTURE:MNO)(AIM:MANA) the TSX Venture Exchange ("TSX-V") and AIM listed exploration and development company focused on gold, iron ore and diamonds in West Africa is pleased to announce the appointment of Mr Kirill S. Zimin to the Board of Directors.

Severstal's representative

Following the completion of the deal with Severstal in December 2008, and in accordance with the agreement signed on 22 May 2008, Mr Zimin has been elected as the chosen representative of Severstal Resources to complement the existing Board and oversee the 6.29% strategic investment in Mano as well Severstal's 61.5% interest in the Putu Range iron ore Joint Venture Severstal Liberia Iron Ore Ltd.

Mr Zimin joined "ZAO Severstal Resources" in 2006 and is Senior Manager for Strategy and Corporate Development. In this capacity he is also Head of Business Development for Africa. Previously Mr Zimin was Deputy Director General at "OAO Kuzbassugol Coal Company" where he joined from "OAO SUAL Holding" having worked for over three years as a specialist in corporate governance. Mr Zimin graduated from the Moscow State University with a Law degree.

Luis da Silva, President & CEO of Mano commented:

"This appointment not only strengthens the Mano Board but also our relationship with Severstal in taking forward the Company's joint objectives. We have an excellent relationship with the Severstal team and we look forward to expanding on this in the future. This appointment is an endorsement of the Company's strategy as we seek to grow, especially in light of the amalgamation with African Aura Resources."

There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules, save as set out below:



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Current Directorships Past Directorships within last 5 years
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OAO Coal Kuzbassugol
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Kamensk-Uralsky Metallurgical Works
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Volgograd Aluminimum Smelter
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OAO Metallurg
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Severstal Resources is one of the biggest Russian mining companies and manages all Severstal's mining assets: two iron ore mining complexes and a coking coal complex in northwest Russia, one coking coal complex in USA (PBS Coals), an exploration project Severstal Liberia Iron Ore in Western Africa and a mine design institute SPb-Giproshakht. Severstal Resources also manages a number of gold mining assets in Russia, Kazakhstan and Burkina Faso as well as several gold exploration fields in these regions. In 2008 Severstal Resources' mines and plants produced 9.3 million tonnes of iron ore pellets, 4.7 million tonnes of iron ore concentrate, 4.6 million tonnes of coking coal concentrate, 0.7 million tonnes of coking coal, 2.2 million tonnes of steam coal and 6 tonnes of gold.

OAO Severstal is an international metals and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. Incorporated in 1993, the company focuses on high value added and unique niche products and has a successful track record of acquiring and operating high-quality assets in North America and Europe. Severstal owns mining assets in Russia and in the US, thus securing its supplies of raw materials. Its enterprises are located in Russia, Ukraine, Kazakhstan, United Kingdom, France, Italy, United States and Africa. In 2008, Severstal produced 19.2 million tonnes of steel. Revenues were $22.4 billion and EBITDA was $5.4 billion. EPS was $2.2.

For further information on Mano River Resources and its development programmes, you are invited to visit the Company's website at www.manoriver.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Mano River Resources Inc.
    Luis da Silva
    CEO
    +44 (0) 20 7299 4212
    www.manoriver.com
    or
    Evolution Securities Limited
    Simon Edwards
    +44 (0) 20 7071 4300
    or
    Evolution Securities Limited
    Chris Sim
    +44 (0) 20 7071 4300
    or
    Evolution Securities Limited
    Neil Elliot
    +44 (0) 20 7071 4300
    or
    Pelham Public Relations
    Charles Vivian
    +44 (0) 20 7337 1500
    Mob: +44 (0) 7797 297903
    or
    Pelham Public Relations
    James MacFarlane
    +44 (0) 20 7337 1500
    Mob: +44 (0) 7797 297903