Minefinders Corporation Ltd.

Minefinders Corporation Ltd.

May 07, 2007 08:30 ET

Minefinders Corporation Ltd.: Dolores Mine Development Continues with Senior Personnel Appointments

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) - Minefinders Corporation Ltd. (the "Company") (TSX:MFL)(AMEX:MFN) has appointed two senior mining professionals to lead its operations team at its new Dolores gold and silver mine, in Mexico.

Gregg Bush BSc.(Metallurgical Eng.) has been appointed Vice President, Operations of the Company and General Manager of the Dolores Project. Mr. Bush has more than 27 years of mining experience, the past 17 years of which were with Placer Dome/Barrick. Most recently he was Mine General Manager at the Zaldivar Mine in Chile, an operation that mined 200,000 tonnes per day and processed some 55,000 tonnes of ore per day. Mr. Bush is an experienced manager who brings extensive development, process engineering and operational expertise to the Company.

Donald Hulse BSc.(Mining Eng.), P.E. has been appointed Manager of Technical Services for the Dolores Project. He brings more than 24 years experience in the mining industry, most recently as General Manager and Mine Manager for Minera San Xavier SA de CV at the Cerro San Pedro mine, in Mexico. In addition to his broad technical and managerial expertise, Mr. Hulse has extensive experience working with the Mexican government and in addressing cultural and social issues in Mexico.

Company President Mark Bailey commented, "We are very pleased to have secured the services of Gregg and Don to lead our operations group at the Dolores mine. Their knowledge and extensive operational experience will be invaluable as Dolores develops into one of the preeminent gold and silver producers in Mexico."

Dolores Project Update

Construction continues on the Dolores gold and silver mine, with more than 350 contractors and employees on site. Substantial progress has been made in the assembly of the Merrill-Crowe plant, with the building now fully framed, primary pumps installed, and solutions tanks nearing completion. All crusher foundations are complete and the primary crusher supports are under construction.

Construction of the permanent camp is progressing with nine housing units completed, providing accommodations for 100 people. Site work for the permanent mine office and truck shop is nearly complete. Surface grubbing and earthworks for the leach pad and solution ponds are nearing completion, and installation of the leach pad and solutions pond piping and liners will begin in the next few weeks.

Steel for the conveyor systems has been delivered to the site and is awaiting assembly. Deliveries of major mine equipment to the site are continuing, with all primary loaders and dozers delivered and assembled, along with 12 pieces of ancillary equipment and the first two of 15 new 100-tonne trucks. The first of two new Komatsu shovels has been shipped and the second will be shipped this month.

Photos of ongoing progress at the site are available at www.minefinders.com.

New Dolores Project Resources Estimation

The Company has completed an updated resources estimation for the Dolores Project and has submitted it for independent review and audit by the engineering firm of Chlumsky, Armbrust, and Meyer, of Denver, Colorado. Details of the updated resources estimation will be made available upon completion of this audit.

Dolores Exploration Drilling

Two exploration drills presently are operating on the property to extend mineralization peripheral to, and below, the current resource model. Drill results will be reported as they are received and compiled.

Quality Assurance and Control

Mark Bailey MSc., P.Geo. is the "qualified person" with overall responsibility for the Dolores Project and is responsible for the contents of this news release.


Mark H. Bailey, President and Chief Executive Officer

Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statements in this release that are forward-looking, including statements relating to the size, and potential growth in size, of the Company's mineral reserves and resources, the economic feasibility of, and commencement of mine construction and mining operations at, the Company's Dolores Project and the timing of the further exploration and development of the Company's mineral projects, are subject to various risks and uncertainties concerning the specific factors identified above and in the Company's periodic filings with the Ontario Securities Commission and the U.S. Securities Exchange Commission ("SEC"). Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

Cautionary Note to U.S. Investors: The SEC permits mining companies to disclose only those mineral deposits that can be extracted or produced economically in their filings with the SEC. This news release uses the term "inferred resource" that the SEC guidelines prohibit from inclusion in filings with the SEC.

Contact Information

  • Minefinders Corporation Ltd.
    Mark H. Bailey
    President and Chief Executive Officer
    (604) 687-6267 (FAX)
    Website: www.minefinders.com