Philex Gold Inc.

Philex Gold Inc.

November 15, 2006 09:50 ET

Philex Gold Announces Appointment of New Director

TORONTO, ONTARIO--(CCNMatthews - Nov. 15, 2006) - Philex Gold Inc. (the "Company") (TSX VENTURE:PGI) announced today that Stanley Beck has advised the board of directors of his wish to retire from the board of directors. The board of directors has accepted Mr. Beck's resignation with regret. The Company announced that it has appointed Mr. Franklin Cu to the board of directors.

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

Mr. Cu has a masters degree in business administration from Wharton School - University of Pennsylvania. He has had extensive experience in life insurance and investment operations in the Philippines prior to his move to Canada in 1982.

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 accuracy of this release.

Contact Information

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