Reservoir Capital Corp.

Reservoir Capital Corp.

September 21, 2007 10:45 ET

Reservoir Announces Additions to Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2007) - Reservoir Capital Corp. ("Reservoir" or "the Company") (TSX VENTURE:REO) is pleased to announce the election of Mr. Dale Peniuk, C.A. and Dr. Simon Ingram as Directors of the Company at the Company's Annual and Special Meeting of Shareholders today (the "Meeting").

Since early 2006, Mr. Peniuk has been providing financial consulting services to a number of mining companies and currently serves on the Board and as Audit Committee Chair of Lundin Mining Corporation (TSX and NYSE), Corriente Resources Inc. (TSX and AMEX) and Rainy River Resources Ltd. (TSXV) and on the Board and Audit Committee of Quest Capital Corp. (TSX and AMEX). Until February 2006, Mr. Peniuk was an assurance partner with KPMG's Vancouver office specializing in the mining area and the leader of KPMG's Vancouver office mining industry group. In addition to his mining industry and auditing background, Mr. Peniuk has extensive experience in assisting Canadian and foreign companies to register their securities in Canada, United States and elsewhere and has been actively involved in the corporate finance area for his clients, including assistance with financings, due diligence on potential merger and acquisition opportunities and divestiture transactions.

Dr. Ingram holds a B.Sc. (Hon) and Ph.D in Mineral Resource Evaluation from Cardiff University. He is the founder and principal of Ankobra Resource Services Ltd., through which he provides technical and managerial expertise to exploration and mining companies world-wide, throughout the project cycle from early-stage exploration projects to feasibility studies, mine start up and production. Recent projects include project management for the start up of Sungun Copper Project in Iran for Rio Tinto. Dr. Ingram consulted to the Deno Kapan polymetallic mine in Armenia recalculating and upgrading resources and reserves, and acted as a consultant to AIM-listed Cluff Gold. Other clients have included Gold Fields Ltd., Anglo American plc, AUR Resources, Crew Gold, Oxus Gold plc, MINMET plc and Normandy (Africa).

Reservoir also advises that Mr. K. Peter Miller declined to stand for re-election as a Director of the Company at the Meeting. The Board wishes to acknowledge Mr. Miller's contribution to the growth and development of Reservoir and express its thanks for his work on behalf of the Company.

The Board of Reservoir comprises the following: Mr. Miles Thompson, Mr. Michael Winn, Mr. Patrick Trustram-Eve, Mr. Dale Peniuk, and Dr. Simon Ingram.

In addition, Reservoir announces the grant of 150,000 incentive stock options exercisable at CDN$0.85 per share for a period of five years to a Director of the Company.

About Reservoir

Reservoir is a natural resource company, currently exploring for gold and base metals on six exploration properties in Serbia and actively seeking new business opportunities through its in-country team of geologists and business development specialists. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO".

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

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    (604) 662-8448
    Reservoir Capital Corp.
    Miles Thompson
    (604) 662-8448
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    (604) 662-8448