Mengold Resources Inc.
TSX VENTURE : MNI

Mengold Resources Inc.

February 29, 2008 15:51 ET

Mengold Enhances Management Team

MONTREAL, QUEBEC--(Marketwire - Feb. 29, 2008) - Mengold Resources Inc. (TSX VENTURE:MNI) is pleased to announce the appointment of Mr. Richard Dufresne, P.Geo. as Executive Vice-President and Mr. Pierre Allard, P.Geo. as the Vice-President of Exploration. Both Mr. Dufresne and Mr. Allard have been nominated to join Mengold's Board of Directors at the next Annual General Meeting of Shareholders.

Mr. Dufresne brings with him over 20 years of experience in the exploration and mining development industry. He worked for several years with major mining companies such as Falconbridge and Anglo American Exploration Canada and held a variety of senior posts. He also worked for junior resource companies and most recently held a position as Executive Vice-President of X-Ore Resources Inc. In addition to working throughout Quebec and Ontario, he also worked in areas such as Peru and the Ivory Coast in the search for nickel, gold, and base metals. Mr. Dufresne's technical expertise along with his corporate knowledge will be of great benefit to the shareholders of this Company.

Mr. Pierre Allard was previously the Chief Geologist for Mengold's two Shebandowan Properties and has been with Company for over 1 1/2 years. Mr. Allard has 25 years in the exploration and mining industry and has worked in many different regions of Quebec and Ontario, as well as, Central and West Africa. He was in charge of Barrick Gold's exploration activities in Central Africa and was posted there for almost 7 years. Mr. Allard has held a variety of positions for major and junior mining companies, and has also acted as consultant for Met-Chem Canada of Montreal conducting a National Instrument 43-101 compliant ore reserve calculation on the Bakoudou Gold Project in Gabon, Africa. Mr. Allard has extensive background in gold and base metals exploration and development.

Mengold will have a booth at the Prospectors and Developers Convention (PDAC) being held from March 2 - 5 in Toronto. The booth number is 2607 and is located near the Teck/Cominco cafe.

The Qualified Person supervising the work being carried out on the Burchell Lake and Goldcreek Properties is Joel Scodnick, P.Geo., President & CEO of Mengold Resources Inc.

Mengold Resources Inc. is engaged in mineral exploration for precious and base metals. The Company is currently conducting a 5,000m diamond drilling program at the Burchell Lake and Goldcreek Properties, both prospective for gold, copper, zinc, nickel, and molybdenum, in the Shebandowan Greenstone Belt of Northwestern Ontario. Mengold has 36,820,088 common shares outstanding.

For further information, please bookmark www.mengold.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Mengold Resources Inc. (In Canada)
    Joel Scodnick
    President and Chief Executive Officer
    (705) 522-4439 or 1-807-629-7516
    (705) 522-8694 (FAX)
    Email: scodnick@netspectrum.ca
    or
    Mengold Resources Inc. (In Canada)
    Douglas G. Reeson
    C.F.O. and Director
    (416) 533-0323
    (416) 533-2890 (FAX)
    or
    Mengold Resources Inc. (In Europe)
    W. Ian L. Forrest
    Chairman and Director
    011.41.22.809.9511
    011.41.22.899.9501 (FAX)
    Website: www.mengold.com