| | | April 25, 2011
MBMI Appoints VP Operations & Repays Loan
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| | VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2011) - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE:MBR) announces that, effective April 1, 2011, Mr. Frank Pastorino has been appointed as Vice President Operations. Mr. Pastorino has a Bachelor of Science and a Masters in Business Administration from the University of Louisville and has significant experience in progressively senior administrative and operational positions with mining projects in the former Soviet Union and the Philippines.
In addition to assisting in the resolution of matters associated with and stemming from recent licensing related issues, Mr. Pastorino's responsibilities will include oversight of strategic plans as well as the implementation of corporate initiatives focusing on the transition from small scale exploration and development towards full scale and efficient mining and processing. Further responsibilities include coordination and integration of administrative and control processes at the operational level and the provision and/or procurement of the appropriate technical expertise necessary to meet objectives as well as to assist in the training local staff to allow them to face future challenges independently.
Mr. Pastorino's appointment is subject to regulatory acceptance.
Loan Repayment
Pursuant to the terms of the loan agreement, MBMI has repaid the short-term $600,000 loan made on October 20, 2010.
Company Profile
MBMI and its Philippine partners have an interest in nine nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael T. Mason, President and CEO
Further Information
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com.
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. The Company has not yet established commercial viability, via a feasibility study, on any estimated mineralized resources that would support a commercial mining operation or demonstrate the economic viability of any of its properties. There is no guarantee that future exploration will result in the discovery of mineral resources or that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.
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. |
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| | You can view the Next News Releases item: Tue May 24, 2011, MBMI Appoints John Cook as Executive VP and Interim CFO
You can view the Previous News Releases item: Wed Apr 20, 2011, MBMI Updates Financing and Announces Appointment of Director
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