Bacanora Announces Board, Management Changes
CALGARY, ALBERTA -- (Marketwired) -- 05/31/13 -- BACANORA MINERALS LTD. (TSX VENTURE: BCN) (the "Corporation" or "Bacanora") is pleased to announce the appointment of two new directors to its board: Mr. Guy Walker of Wellington, New Zealand and Mr. Martin Fernando Vidal Torres of Hermosillo, Mexico. In order to create the necessary vacancies to effect these two appointments, Mr. Raymond Hodgkinson has resigned his position as a director of the Corporation, but will continue as an advisor and consultant to the Company. In addition to changes at the board level, the following changes have been made to officer roles within Bacanora: Mr. Martin Vidal has been appointed as President of the Company, Mr. Shane Shircliff has been appointed Chief Executive Officer of the Company and Mr. Paul Conroy has resigned as President and CEO, and has been appointed to the newly created office of Vice President, Special Projects.
About the Appointees
Martin Fernando Vidal Torres has served as the Vice President, Exploration - Mexico for Bacanora since January 2011. He currently serves as General Manager of Minerales Industriales Tubutama S.A. de C.V. and Minera Sonora Borax S.A. de C.V., two fully-owned Mexican subsidiaries of Bacanora and the operating vehicles for the development of the Company's projects owned in Mexico. Mr. Vidal started his career as geologist with the US Borax exploration team and has years of experience working in Northern Mexico, particularly in the project areas that Bacanora are now developing. His experience includes almost 20 years of working with the multinational company Rio Tinto in the exploration of industrial minerals in several countries in America, occupying different technical and managerial positions. Mr. Vidal has a BSc. in Geology from the University of Sonora (1987) and studies in Non-Ferrous extractive Metallurgy in the same University.
Guy Walker is a highly accomplished director and senior investment management executive with over 20 years financial markets experience. He currently sits on the boards of several mining companies at different stages of development including Metals Exploration plc (an AIM listed gold development company, whose project is in the Philippines), Mineral Commodities Limited (an ASX listed mineral sands pre-production company with projects in South Africa) and ENK plc. (a Nickel mining company with a mining project in the Philippines). Mr. Walker has extensive experience in capital raising through both traditional banks and alternative lenders.
Shane Shircliff is the Chief Operating Officer of Westcore Energy Ltd. (a mining/energy exploration company listed on the TSX Venture Exchange) and President and Chief Executive Officer of Kenna Resources Corp. (a mining/energy exploration company listed on the TSX Venture Exchange) and is a director of Ituna Capital Corp. (a capital pool company listed on the TSX Venture Exchange). Mr. Shircliff is the founder of Clinworth Management Corp., which provides management and corporate development services in the junior resource industry. Mr. Shircliff was previously employed with Cameco Corporation as Director of Corporate Development and Power Generation, where he was responsible for growing the company's uranium business through merger and acquisition activities and led project teams on deals valued at over $1.0 billion. From 1998 to 2011, Mr. Shircliff held various increasingly senior roles within Cameco's marketing and corporate development groups. Before joining Cameco, Mr. Shircliff was a commercial account manager with the Hong Kong Bank of Canada. Mr. Shircliff has a Bachelor of Commerce degree with majors in Finance and Economics as well as an MBA from the University of Saskatchewan.
In connection with these board and management changes, Paul Conroy, former President and Chief Executive Officer and newly appointed Vice President, Special Projects of the Corporation stated, "we are privileged to add these two new directors to our board and to further strengthen our management and operational group with these new management changes. With Mr. Walker's vast international mining experience and Mr. Vidal's intimate knowledge of our company's projects and operations our board stands to be further ameliorated by their participation. Further, Mr. Shircliff's substantial industry experience and Mr. Vidal's onsite operational prowess are expected to take our management group to the next level in our continuing growth and development towards mining production operations. The board also wishes to express its sincere appreciation and gratitude to Raymond Hodgkinson for his years of faithful service and exemplary efforts in stewarding Bacanora through its formative years. We look forward to a continuing relationship with Mr. Hodgkinson in his role as an advisor and consultant."
Reader Advisory
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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.
Contacts:
Bacanora Minerals Ltd.
Shane Shircliff
Chief Executive Officer
(306) 649-0602
(306) 649-0601 (FAX)
