Empire Mining Corporation Appoints Nicholas Royston Clarke to Board and Promotes Robert F. Giustra to Chairman
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2010) - Empire Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to announce that Mr. Nicholas Royston Clarke has been appointed to its board of directors, and that Mr. Robert F. Giustra has been promoted to Chairman of the board.
Mr. Clarke has nearly 40 years of experience in the mining industry and in managing publicly traded companies, having held the positions of Managing Director with Oriel Resources plc, and President, CEO, and Executive Director of Lero Gold Corporation, as well as a host of other positions with notable international mining firms. Oriel Resources listed on the London Stock Exchange AIM market in 2004 and the TSX Venture Exchange in 2005; in 2008 it was sold to Mechel OAO of Russia for total consideration of $1.5 billion. Oriel's principal asset was the 19M tonne Voskhod chrome ore deposit in Kazakhstan which under Mr. Clarke's leadership was advanced from the exploration stage to development, feasibility, mine construction and successful mine commissioning in only three and a half years. Mr. Clarke also has senior operational management experience within the producing mining industries of South Africa, Ghana, Saudi Arabia, and the United Kingdom.
He is currently the CEO of London based Central Asia Metals Ltd which has copper, gold and molybdenum assets in Kazakhstan and Mongolia and he is also a non-executive director of AIM-listed Sunkar Resources plc and Obtala Resources plc.
"We are delighted that Mr. Clarke has accepted an appointment to our Board," David Cliff, Empire's President & CEO stated. "Nick has extensive public company experience as both a senior executive and a non-executive director and his experience as a mine developer and operator, particularly in the chromite industry, will significantly advance our ambitions of achieving production from our Bulqiza chromite project in Albania."
Empire is also pleased to announce that Mr. Robert F. Giustra has been promoted to Chairman of Empire. Mr. Giustra has been actively engaged in the creation, financing, development and management of publicly-traded junior mining companies since 1992. His early experience in public markets includes working as an Investment Advisor with a national securities broker and later as an Investment Banker with an international investment dealer; where he co-founded institutional equity sales and corporate finance departments with a specialist focus on the junior mining sector. Since 1998, Mr. Giustra has held senior executive positions with and served on the board of, a number of junior mining companies. He is presently the Chief Executive Officer of Columbus Gold and Columbus Silver corporations.
Mr. Clarke's appointment is subject to approval by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Robert F. Giustra, Director
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting Empire's plans for Mr. Clarke's tenure at Empire, exploration plans, as well as obtaining TSX Venture Exchange acceptance of Mr. Clarke's appointment to the Board. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.