TC Power Management Ltd.
OTC Bulletin Board : TCPM

January 17, 2011 08:07 ET

TC Power Management Completes Acquisition of Axiom Minerals de Mexico

NEW YORK, NEW YORK--(Marketwire - Jan. 17, 2011) - TC Power Management (OTCBB:TCPM) is pleased to announce that it has completed its acquisition of Axiom Minerals de Mexico S.A. de C.V. ("Axiom Mexico") 

Axiom Mexico is now a wholly owned subsidiary of TC Power whereby TC Power issued to the shareholder of Axiom Mexico, 2 million shares of TC Power. Axiom Mexico is a mineral exploration and mining development corporation with head offices located in Hermosillo, Sonora, Mexico. Initially, the main focus of Axiom Mexico is its two gold exploration properties located in Sonora State, Mexico. Axiom Mexico is in the process of acquiring, what it believes to be, additional promising properties in Mexico, Argentina and Chile.

As part of the acquisition, Francisco (Barry) Quiroz has been appointed to the position of CEO of TC Power as well as to the board of directors. Mr. Quiroz has 23 years of experience in management and development of exploration programs, spending 19 years with BHP and BHP Billiton. Recently, he was also responsible for making the discovery for Pan American Goldfields' Cieneguita mine with a reported resource of 1.2 million oz/Au equivalent. 

Mr. Quiroz says, "I am very pleased with the opportunity to be leading a dynamic and focused group in the exploration and development of our existing suite of exploration properties. With our major shareholder and partner, Guiñez Engenieria Ltda located in Antofagasta, Chile (http://guinezingenieria.cl/bienvenidos.html), we have tremendous contacts and additional access to resources to greatly enhance our shareholders' value. Through these relationships we are also excited about the prospects of acquiring additional concessions in strategic locations in Mexico, Argentina and Chile."

Mr. Guiñez is the President of Guiñez Engenieria Ltda (www.guinezingenieria.cl) based in Antofagasta, Chile. With over 600 employees, the main focus of Guiñez Engenieria Ltda is as a mining services contractor. They provide the logistics and infrastructure to many of the major mining companies operating in Chile and have recently expanded their operations to Mexico. Through Mr. Guiñez's expertise Axiom Mexico has the full support for exploration and development of its properties. 

As part of the acquisition of Axiom Mexico, TC Power plans to hold a special shareholders' meeting to change the name to Axiom Gold and Silver Corp.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.

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