Marengo Mining Limited

Marengo Mining Limited

June 10, 2008 00:00 ET

Marengo Strengthens Board With Key Appointments to Focus on Development of Yandera Copper-Molybdenum Project

Two Canadian Non-Executive Directors Appointed

PERTH, WESTERN AUSTRALIA--(Marketwire - June 10, 2008) -


Marengo Mining Limited ("Marengo" or "the Company") (TSX:MRN)(ASX:MGO)(POMSoX:MGO) is pleased to announce the appointment of Mr John Hick and Ms Elizabeth Martin to the board as Non-Executive Directors, as the Company progresses the development of its 100%-owned Yandera Copper-Molybdenum Project in Papua New Guinea.

The appointment of Mr Hick and Ms Martin, which will become effective from June 10 2008 bolsters the depth and experience of the Marengo Board and provides the Company with an increased presence in Canada after the completion of a fundraising, and listing on the Toronto Stock Exchange (TSX) in April of this year.

Mr Hick has over 25 years of experience in the mining industry in both senior management positions and as an independent director, during which he has spent the majority of his time based in Toronto, Canada.

He is currently the Non-Executive Chairman of Silver Eagle Mines Inc - a TSX listed mining company - which is currently developing a silver-base metal property in Mexico. He is also an independent director of a number of TSX (or TSXV) listed mining companies including First Uranium Corporation, Carpathian Gold Inc, Revett Minerals Inc. and Hudson Resources Inc, as well as ASX-listed mining company, Tamaya Resources Limited.

Previously Mr Hick has held board and senior management positions with a number of successful Canadian mining companies, including Placer Dome Inc, TVX Gold Inc, Defiance Mining Corp, Rio Narcea Gold Mines Ltd, Geomaque Explorations Ltd and Rayrock Resources Inc.

Ms Martin is a Toronto based, professional accountant with a strong background in international exploration and mining companies. She has held senior management roles in base metal and precious metal companies such as Northgate Mines Inc., Western Mining Corporation Limited, IAMGOLD Corporation and High River Gold Mines Ltd.

Ms Martin is currently on the Board of Aura Minerals Inc. and Manicouagan Minerals Inc. and also holds the position of Chair of the Board of St. John's Rehabilitation Hospital in Toronto.

In welcoming Mr Hick and Ms Martin to the Board, Marengo's Chairman Mr John Horan said: "We are delighted to welcome both John and Elizabeth to our team, as they bring with them vast international board and project management experience that can only benefit the future development plans of our world-class Yandera Project."

Additionally, Marengo advises that Mr Dennis Wilkins has resigned from his position of Non-Executive Director to concentrate on his other business interests. His resignation will also become effective as at June 10 2008 Mr Horan thanked Mr Wilkins for his efforts since joining the board in 2002, as founding finance director and company secretary: "On behalf of the Board I would like to thank Dennis for his valued contribution to the Company and we wish him all the very best for the future," he said.

Earlier this year, Marengo appointed two other key Non-Executive Directors, in former PNG Prime Minister Sir Rabbie Namaliu and European banking executive, Ms Susanne Sesselmann. In addition Mr Andrew Meloncelli was appointed as Chief Financial Officer and Company Secretary.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares within the United States. The ordinary shares have not been offered and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the ordinary shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is granted.

About Marengo Mining Limited

Marengo Mining Limited (TSX:MRN)(ASX:MGO)(POMSoX:MGO) is an emerging, Australian-based international metals company which is focused on the development of its 100%-owned Yandera Copper-Molybdenum Project in Papua New Guinea.

A Definitive Feasibility Study ("DFS") is currently underway on the Yandera Project (previously reported JORC compliant Inferred mineral resource of 497 million tonnes at 0.48% copper equivalent and an Indicated mineral resource of 163 million tonnes at 0.49% copper equivalent). The DFS is due for completion by mid-2009.

The commencement of the DFS follows the completion of a Conceptual Mining Study during 2007, which confirmed the potential for a robust, long-life development of the Yandera Project, as a significant strategic source of copper and molybdenum for world markets.

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