PGM Ventures Corporation

PGM Ventures Corporation

April 06, 2006 10:19 ET

PGM Completes Senior Management Team for the Aguas Tenidas Project

TORONTO, ONTARIO--(CCNMatthews - April 6, 2006) - PGM Ventures Corporation (TSX VENTURE:PPG) -

PGM Ventures Corporation ("PGM") is pleased to welcome the appointment of Agne Ahlenius (44) as mine manager for its Aguas Tenidas project located in SW Spain. Agne's appointment completes the Aguas Tenidas senior management team, needed to bring the project into commercial production.

Agne has held senior management positions during successful mine start ups and has been mine manager at several underground base metal mines in both Spain and Sweden, including Boliden's Petiknas Mine. He holds an MBA and an MSc in mining engineering. Agne and the other members of the Aguas Tenidas development team have the experience in a number of technical and financial disciplines, which are required to assure the construction program can be completed on time and within budget.

Aguas Tenidas Update

1. Construction of the new high security explosives magazine is now complete. The three secure areas are designed to separately hold the detonators, explosives and other blasting consumables.

2. Rehabilitation of the underground ventilation shafts is now complete, while that of emergency escape way systems is underway and expected to be completed shortly.

3. The Company is continuing negotiations with Investec Bank (UK) Ltd for a project loan facility, as well as with Aker Kvaerner Engineering Services Ltd for an EPCM construction contract.

Mike Newbury, P.Eng., is the Qualified Person who has reviewed the technical information in this news release on behalf of the company.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are in Canadian dollars unless otherwise noted.

The TSX Venture Exchange does not accept responsibility for the adequacy of accuracy of this release.

Contact Information

  • PGM Ventures Corporation
    Peter Miller
    1 (416) 815-8666
    PGM Ventures Corporation
    Norm Brewster
    1 (416) 815-8666