MOYDOW MINES INTERNATIONAL INC.
TSX : MOY
AIM : MOY

MOYDOW MINES INTERNATIONAL INC.

July 18, 2007 11:30 ET

Moydow Announces Appointment of Directors

TORONTO, ONTARIO--(Marketwire - July 18, 2007) - Moydow Mines International Inc. ("the Company") (TSX:MOY)(AIM:MOY) announces that on July 13, 2007 it appointed Mr. Richard Linnell and Mr. Albert Gourley as Directors of the Company.

Mr. Linnell has been active in the resources sector for almost forty years with significant global experience in the development and marketing of resources and commodities and was a former head of Billiton Plc exploration and development activities in Africa and a member of the Eskom Council. He is currently Executive Chairman of Falkland Gold and Minerals Plc, Non-executive Chairman of GVM Metals Ltd, GMA Resources Plc, Chrome Corporation Ltd and a Director of GRD Minproc Pty Ltd, Nimag Pty Ltd, RNI NL, South African Mineral Resources Corporation Ltd, Project Literacy and the Businessmap Foundation.

Mr. Gourley is the resident Managing Partner of the Johannesburg, South Africa, office of Fasken Martineau DuMoulin LLP, Barristers and Solicitors and has an adjunct office in London, United Kingdom. Mr. Gourley is an international mining lawyer with a particular focus on Africa. His practice includes legal and business advice relating to mergers and acquisitions, private placements, mining agreements, debt and equity financings and stock exchange listings.

Mr. Linnell and Mr. Gourley were former Directors of the Company.

The Company also announces that on July 13, 2007, Mr. Peter Villani has resigned as a Director of the Company. Mr. Villani is a Partner of Fasken Martineau DuMoulin LLP, Barristers and Solicitors and has served as a Director since July 27, 2006.

Mr. Kiernan said "We are very pleased that Mr. Linnell and Mr. Gourley have rejoined the Board of Directors and we look forward to a long and successful relationship with them and we wish to thank Mr. Villani for his contribution as a Director of the Company".

In addition, the Board also approved the granting of a total of 3.3 million options to purchase common shares of the Company, of which 2.6 million were granted to Directors of the Company, detailed as follows. Options were granted and vested on July 13, 2007 to purchase common shares of the Company at Cdn$0.20 per share for a five year period expiring on July 13, 2012 to the following Directors (number of options granted shown after the name): Brian Kiernan 300,000, Noel Kiernan 250,000, Joseph Breen 200,000, Michael Power 150,000, Albert Gourley 250,000 and Richard Linnell 250,000.

In addition, options were granted on July 13, 2007 and vesting on July 13, 2008 to purchase common shares of the Company at Cdn$0.33 per share for a five year period expiring on July 13, 2012 to the following Directors (number of options granted shown after the name): Brian Kiernan 300,000, Noel Kiernan 250,000, Michael Power 150,000, Albert Gourley 250,000 and Richard Linnell 250,000.

Moydow Mines International Inc currently has 56,572,904 issued and outstanding shares.

The Company is engaged in the acquisition, exploration and development of mineral properties worldwide. Corporate information is available on the Company's website www.moydow.com The Company is listed on the Toronto Stock Exchange and the AIM market of the London Stock Exchange plc under the symbol "MOY".

On behalf of the Board of Directors

Brian Kiernan, President and Chief Executive Officer

Contact Information

  • Moydow Mines International Inc.
    Michael Power
    Vice President, Corporate Development
    (416) 703-3751 or Toll Free: 1-877-211-8877
    (416) 367-3638 (FAX)
    Website: www.moydow.com