Minefinders Corporation Ltd.

Minefinders Corporation Ltd.

October 16, 2006 08:30 ET

Minefinders Selects Successor to Retiring CFO

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 16, 2006) - Minefinders Corporation Ltd. (the "Company") (TSX:MFL)(AMEX:MFN) announces that it has chosen Greg D. Smith, of Vancouver, British Columbia, to succeed Ronald J. Simpson as Chief Financial Officer of the Company, upon Mr. Simpson's forthcoming retirement.

Mr. Smith is a Chartered Accountant with extensive experience with mining companies. He spent five years as a member of the mining group at KPMG LLP, where he managed the annual audits of a number of gold producers and developed expertise in Canadian, U.S., and international accounting and reporting practices. Most recently, Mr. Smith served as Risk Manager for a major Canadian gold producer where he oversaw the design and implementation of Sarbanes-Oxley compliance programs. Mr. Smith is a graduate with distinction from the University of Victoria with a degree in International Business.

Company President, Mark Bailey, commented: "I look forward to having Greg join our management team, at this exciting time in the life of Minefinders. I would also like express our appreciation to Ron Simpson, who has been a steadying presence for the Company as it transitions to a production company. We are fortunate to have had the benefit of his guidance, drawn from a professional career of more than 48 years. On behalf of the Minefinders Board of Directors and all its employees, I extend our warmest best wishes to Ron for a full and healthy retirement."

Mr. Smith will join the Company on November 1st and will assume the CFO position following the completion and publication of the Company's third quarter financial statements.

About Minefinders

Minefinders Corporation Ltd. is a successful mineral exploration company with several projects in Mexico and the United States. The Company is presently building an open pit mine at its advanced-stage Dolores gold and silver project.

Minefinders Corporation Ltd.

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 selection of the successor to its retiring Chief Financial Officer, the Company's transition to a gold and silver producing company and the Company's plan to build an open-pit mine at its Dolores property. Forward-looking statements 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.

Contact Information

  • Minefinders Corporation Ltd.
    Mark H. Bailey
    President and Chief Executive Officer
    (604) 687-6263 or 1-866 687-6263
    (604) 687-6267 (FAX)
    Website: www.minefinders.com