Philex Gold Inc.

Philex Gold Inc.

December 01, 2006 07:00 ET

Philex Gold Announces Appointment of New Director and Officers

TORONTO, ONTARIO--(CCNMatthews - Dec. 1, 2006) - Philex Gold Inc. (the "Company") (TSX VENTURE:PGI) announced today that Donald Ross has advised the board of directors of his wish to retire from the board of directors and as Corporate Secretary. The board of directors has accepted Mr. Ross' resignation with regret. The Company announced that it has appointed Mr. Renato Migrino to the board of directors and as the Chief Financial Officer of the Company and has appointed Ms. Karen Murray as the Corporate Secretary of the Company.

Mr. Walter Brown, the Chairman of the Company, said: "The board of directors would like to thank Mr. Ross for his years of service, loyalty and dedication to the Company. We wish Mr. Ross the best with all of his future endeavours."

Mr. Migrino has 31 years of experience in the Philippine mining industry in various capacities, including as Vice President-Finance, Treasurer and Chief Finance Officer of Philex Mining Corporation, the indirect majority shareholder of the Company. Mr. Migrino holds a CPA designation from the Philippines Institute of Certified Public Accountants, is a director of a number of public and private companies and is a Masters of Business Economics candidate.

Ms. Murray is a partner in the corporate and securities law groups at the law firm of Fogler, Rubinoff LLP.

Mr. Brown continued, "We would also like to welcome Mr. Migrino to the board of directors and as an officer of the Company. We also welcome Ms. Murray in the role of Corporate Secretary. We look forward to a productive relationship with Mr. Migrino and Ms. Murray."

About Philex Gold Inc.

Philex Gold Inc. is a Canadian mineral exploration company active in the Philippines. Its interests include the 50% owned North project on Mindanao Island, a joint venture with Anglo American plc. The North project includes the Boyongan copper-gold porphyry deposit, discovered in 2000.

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

Contact Information

  • Philex Gold Inc.
    Paula Kember
    Vice President Finance
    (416) 861-1221
    (416) 861-1226 (FAX)