| | | August 02, 2007
MBMI Reports On Annual General Meeting; Update On Alpha Nickel Project
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| | August 2, 2007. MBMI RESOURCES INC. (MBR:TSXV) ("MBMI") ("the Company") reports that pursuant to the Annual General Meeting held July 31, 2007, shareholders have voted in favour of all management resolutions proposed in the Management Information Circular. The seven members elected to the Board of Directors include: Michael T. Mason, Christopher A. Serin, Robert L. McCurdy, Kenneth A. Cawkell, David G. Tafel, John F. Cook, and John Seaman. The Board has appointed the following officers: Michael Mason- President and CEO; David Tafel-VP Corporate Development; Adrian Rothwell-CFO, and Kenneth Cawkell-Secretary.
Alpha Nickel Project Update:
MBMI's Philippine subsidiary, Narra Nickel Mining and Development Corp ("Narra Nickel") has completed the preliminary development work with respect to its Alpha property on Palawan Island and is now concentrating on increasing mining production including the acceleration of nickel direct shipping material transport to the stockpile area located at the port facility, for grade sorting and preparation for shipping to Asian clients.
The seven kilometre long mine road to the stockpile area has been completed and work is continuing on widening the road. Nickel material is being trucked to the stockpile area at an increasing pace despite wet weather conditions which had disrupted initial shipping schedules. Initial start-up bottlenecks are being eliminated and mining capacity is ramping up. Additional property has been purchased at the port which will allow for an expansion of the stockpile yard in anticipation of full scale mining activity. The port facility and causeway have been completed and are now prepared to accommodate the loading of barges which will shuttle material to bulk ore freighters. Market demand is exceptionally strong from Asian consumers for direct shipping nickel material of the quality that is being mined at the Alpha property. Initial shipments will commence as soon as adequate quantities of nickel material have been transported to the stockpile area.
MBMI and its Philippine partners jointly control a 100% interest in eight nickel laterite material projects in Palawan and Samar, Philippines covering an area greater than 22,000 hectares where the objective is to develop a series of major suppliers of high-grade nickel products to the primary nickel consumers in Asia.
For further information:
David G. Tafel - VP Corporate Development, Director
Tel: 604-683-1991; Fax: 604-683-8544; Toll free: 1-877-399-1991
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
Forward Looking Statement
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from either of the Companies' expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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