SOURCE: Pan African Mining Corp.

May 01, 2006 20:01 ET

PAN AFRICAN MINING CORP. Appoints Limor Rubin as New CFO and Director

VANCOUVER, BC -- (MARKET WIRE) -- May 1, 2006 --PAN AFRICAN MINING CORP. (TSX-V: PAF) (the "Company") is pleased to announce that Ms. Limor Rubin, C.A., has been appointed to serve as the new Chief Financial Officer of the Company and as a Director, replacing Mr. Ron Jorgensen, C.A. Mr. Jorgensen has resigned as CFO and as a Director by mutual agreement in order to pursue other professional and personal interests. He will remain as a Financial Consultant for the Company for a period of one year.

Ms. Rubin has been serving since January 1, 2006, as Controller of the Company and of Sacre-Coeur Minerals, Ltd. She is a member of the Institute of Chartered Accountants of British Columbia and the Israeli Bureau of Accountants. In addition to experience in the mining industry, Ms. Rubin has experience with the financial services industry, mutual funds, insurance, real estate as well as the public sector. Prior to joining the Company and Sacre-Coeur, she served as Accounting Manager for KPMG and as a Senior Accountant with both KPMG and Ernst & Young.

According to Irwin Olian, CEO of the Company, "We are delighted to bring Limor on as our new Chief Financial Officer and as a Director. She brings a wealth of experience and strong credentials. Management felt that the Company and Sacre-Coeur have now matured to the point where they require the services of a full-time, dedicated chief financial officer. We are grateful for the loyal service Ron Jorgensen has rendered to the Company since inception. His outside professional and personal commitments, however, have begun to limit the amount of time he could commit to the business and affairs of the Company. Thus, a realignment of personnel was deemed to be in the best interests of all concerned. Jennifer Todhunter remains our Finance Manager and Danica Payette continues to serve as Administrative Assistant."

About Pan African

The Company is an exploratory resource company with approximately 10,000 square kilometres of diversified mineral properties and 2,500 square kilometres of uranium properties in Madagascar. The Company is exploring these properties for gold, uranium, precious stones, base metals and industrial commodities. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl, and its uranium activities are carried out through its 80% owned subsidiary PAM Atomique Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

ON BEHALF OF THE BOARD OF DIRECTORS OF
PAN AFRICAN MINING CORP.

"Irwin Olian"
Irwin Olian
Chairman & CEO

Contact Information

  • For more information, contact:

    Irwin Olian
    President and CEO
    E-mail: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200

    Tom Kinakin
    Corporate Communications - Vancouver
    Email: Email Contact
    Phone: (604) 899-0100
    Fax: (604) 899-0200


    Carrie Howes
    Corporate Communications - London
    Email: Email Contact
    Phone: +44-7780-602-788

    Marlies Studer
    Corporate Communications - Europe
    Email: Email Contact
    Phone: +41-44-215-2803

    Pan African Mining Corp.
    Suite 1925, Box 11553
    650 West Georgia Street
    Vancouver, BC
    V6B 4N8