Orvana Minerals Corp.

TSX : ORV


Orvana Minerals Corp.

June 02, 2014 09:43 ET

Orvana Appoints Neil Ringdahl as Chief Operating Officer

TORONTO, ONTARIO--(Marketwired - June 2, 2014) - Orvana Minerals Corp. (TSX:ORV) (the "Company") is pleased to announce that Neil Ringdahl has been appointed Orvana's Chief Operating Officer effective June 8, 2014.

Neil brings over 20 years' international experience in mine operations, development, and executive management. He also has a strong technical and project background in a career that has been primarily focussed in Latin American and Africa. He was previously the Chief Executive Officer of Apogee Silver Ltd., and Country Manager of Ancash Mining Ltd., before Korea Zinc acquired it. He has also held senior positions with Volcan Compania Minera in Peru, Golden Star Resources in West Africa and Anglo Platinum in South Africa. Neil holds a bachelor's degree with Honors in mining engineering from the University of Witwatersrand University in South Africa.

"I am pleased to have Neil join our executive management team as his strong operational background fits well with Orvana's needs," said Michael Winship, Chief Executive Officer. "Neil brings invaluable experience both in managing and developing international mining assets and he speaks Spanish."

Responsible for all operations within the group, Neil will be initially relocating from Peru to Spain to be close to the EVBC mine, the Company's main producing asset.

"I am very pleased to join Orvana Minerals, as it is a Company with significant assets and potential. I look forward to working closely with the teams at both EVBC and Don Mario mines, where we will focus on opportunities to improve performance and margins," said Neil Ringdahl.

About Orvana

Orvana Minerals is a multi-mine gold and copper producer. Orvana's primary asset is the El Valle-Boinás/Carlés gold-copper mines in northern Spain. Orvana also owns and operates the Don Mario Mine in Bolivia, processing its copper-gold-silver Upper Mineralized Zone deposit. In February 2014, the Company announced the divestiture of its Copperwood copper project in Michigan, United States. Additional information is available at Orvana's website (www.orvana.com).

Forward Looking Disclaimer

Certain statements in this press release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements.

Forward-looking statements relate to, among other things, all aspects of the development of El Valle-Boinás/Carlés Mines in Spain (the "EVBC Mines") and the Don Mario Mine in Bolivia and their operations and production; the timing and outcome of such development and production; estimates of future production, operating costs and capital expenditures; mineral resource and reserve estimates; estimates of permitting time lines; statements and information regarding future feasibility studies and their results; future transactions; future metal prices; the ability to achieve additional growth and geographic diversification; future financial performance, including the ability to increase cash flow and profits; future financing requirements; and mine development plans.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Orvana as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Orvana contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the "Annual Disclosures"), or as otherwise expressly incorporated herein by reference as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at the EVBC and Don Mario Mines being consistent with the Company's current expectations; political developments in any jurisdiction in which the Company operates being consistent with its current expectations; certain price assumptions for gold, copper and silver; prices for key supplies being approximately consistent with current levels; production and cost of sales forecasts meeting expectations; the accuracy of the Company's current mineral reserve and mineral resource estimates; and labour and materials costs increasing on a basis consistent with Orvana's current expectations.

A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to continue to operate the EVBC Mines and/or the Don Mario Mine; the sale of the Company's Copperwood Project in Michigan; the Company's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; the Company's ability to obtain financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which the Company operates; general economic conditions worldwide; and the risks identified in the Annual Disclosures under the heading "Risks and Uncertainties". This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Annual Disclosures for a description of additional risk factors.

Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.

Contact Information

  • Orvana Minerals Corp.
    Michael Winship
    President and Chief Executive Officer
    (416) 369-1629

    Orvana Minerals Corp.
    Daniella Dimitrov
    Chief Financial Officer
    (416) 369-1629

    Orvana Minerals Corp.
    Ann Wilkinson
    Investor Relations
    (416) 369-1629
    ask_us@orvana.com
    www.orvana.com