Last checked at 17 Jan 2012 07:00
Orosur Mining Inc. Announces
Change of Chairman
SANTIAGO, Chile, January 17, 2012 - Orosur Mining Inc. (the "Company") (TSX VENTURE: OMI) (LSE: OMI) announces that Mario Caron has stepped down as Chairman. He will continue as a Non Executive Director. Mr. Ralph Browning, who has been a Non-Executive Director of Orosur Mining since December 2010, will become Executive Chairman of the Board with immediate effect.
Mr. Caron joined the Board of the Company as Chairman on October, 2009. He has recently been appointed as Chief Executive Officer of Aldridge Minerals Inc. and is stepping down as Chairman of Orosur to dedicate more time to this role.
David Fowler, Orosur Mining Director and Chief Executive Officer said, "I am delighted to welcome Ralph to the role of Chairman of Orosur Mining. Ralph's experience in corporate development and international transactions will be invaluable as we look to build a leading gold producer in South America."
"I wish to thank Mario Caron for his leadership and dedication to the development of our Company, exemplified by the recent successful commissioning of Orosur's first underground mine at Arenal Deeps in Uruguay and the acquisition of the prospective 'Mina Talca' exploration properties in Chile."
Mr. Browning, aged 48, is a finance executive with over 25 years of experience in the banking and finance industry including board and management expertise in corporate development, fund management and capital markets running businesses in the Americas, Europe, Middle East, Africa and South-East Asia.
He holds a Bachelor of Science degree in Geography from The London School of Economics and Political Science and has been a registered representative of the London Stock Exchange.
Mr. Browning started his career at Imperial Chemical Industries (now "ICI") managing a base and precious metals portfolio for use as catalysts by ICI in its petrochemical and other businesses. Subsequently, he has been involved in the establishment and growth of numerous other businesses with Citibank, NatWest and Deutsche Bank as well as other significant providers of risk capital. He is also Chairman of London quoted GMA Resources Plc.
ENDS
Neither 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.
About Orosur Mining Inc.
Orosur Mining Inc. is a fully integrated gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay and Chile. The Company is quoted in Canada (TSX-Venture Exchange: OMI) and London (AIM: OMI).
For further information, please contact:
Orosur Mining Inc
David Fowler, CEO
Ignacio Salazar, CFO + 562 9246800; info@orosur.ca
Canaccord Genuity Limited (Nominated Adviser & Broker)
+44 (0) 20 7050 6500
Rob Collins
Bhavesh Patel
Blythe Weigh Communications (Public Relations and Investor Relations)
Tim Blythe: +44 (0) 7816 924626
Ana Ribeiro: +44 (0) 7980 321505
Matthew Neal: +44 (0) 7917 800011
Copyright Business Wire 2012