Pencari Mining Corporation

Pencari Mining Corporation

March 21, 2007 09:30 ET

Pencari Mining Corporation: Damien Reynolds to Join Board of Directors

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2007) - Pencari Mining Corporation ("Pencari") (TSX VENTURE:PMC) is pleased to announce the appointment of a new Director, Mr. Damien Reynolds. Mr. Reynolds, the Chairman and CEO of Longview Capital Partners, has been involved in the junior resource sector for over twenty years. He has gained industry knowledge through founding, investing in and serving on the Boards of several public exploration companies. Mr. Reynolds has an impressive track record with projects of merit around the world and also for his ability to raise capital for junior companies. Mr. Reynolds replaces Director Andrew von Kursell on Pencari's Board of Directors. Pencari would like to thank Mr. von Kursell for his many years of service to it.

Pencari also announces that the grant of incentive stock options announced in its March 1, 2007 News Release (800,000 shares at $0.20) will not be proceeded with; in lieu thereof, Pencari today announces the granting of incentive stock options to certain of its directors, including Mr. Reynolds, entitling them to purchase up to a total of 1,000,000 shares at a price of $0.215 per share for a period of 5 years.

Pencari is an exploration and development company publicly traded on the TSX Venture Exchange.


Adrian Rollke, President, CEO & Director

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Pencari Mining Corporation
    Adrian Rollke
    President, CEO & Director
    (604) 683-2808
    (604) 683-2286 (FAX)