THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BRITISH COLUMBIA -- (
Marketwire - Aug. 2, 2011) -
Macarthur Minerals Limited (TSX VENTURE: MMS) (OTCQX: MMSDF) ("the Company" or "MMS") is pleased to announce the appointment of two additional senior iron ore professionals onto its executive team, namely David Larsen and Bernard Holtshousen.
General Manager – Geology
David Larsen has been appointed to the position of General Manager - Geology. Prior to this appointment, Mr Larsen most recently held the role of Group Chief Geologist for Mt Gibson Iron Limited. At Mt Gibson, Mr Larsen was responsible for the management of the geological activities related to the exploration, production and development of the Tallering Peak, Roolan Island and Extension Hill projects in Western Australia.
David Larsen commented, "I am very pleased to have joined MMS, a company which has great people, strong management and an excellent project at Lake Giles. This is a particularly well resourced project and provides an opportunity to deliver results that should lead to a new iron ore mine in a time frame that can take full advantage of the current high demand and prices. I am particularly proud of my recent history and achievements at Mount Gibson iron and I am very keen to help guide Macarthur Minerals along a similar path to becoming an iron ore producer."
Mr Larsen replaces Albert Thamm who was retained on a short term contract from Coffey Mining in Perth pending recruitment of an appropriately qualified executive to this key position.
Senior Geologist
The Company is also pleased to announce the appointment of Peter Svensson as Senior Geologist. Peter has relocated from Sweden where he held the position of Exploration and Mine Planning Manager for Dannemora Mineral AB, a mining company that operates the Dannemora iron ore mine in Sweden. He holds a Masters Degree in Geoscience for the Macquarie University in Sydney and a Masters Degree in Science from the Gothenburg University in Sweden.
The appointment of two senior geologists with extensive iron ore exploration and development experience to enhance its strong geology team marks an important milestone in Macarthur's on-going recruitment program.
General Manager - Iron Ore Projects
The position of General Manager Iron Ore Projects has been filled by Bernard Holtshousen. Previously Bernard was engaged as a more senior mining consultant for SRK Australia. Bernard brings to the role 40 years of mine development experience in Australia, South Africa and South America, and holds a Bachelor of Science Engineering (Mining) and a Masters of Science Engineering from Stanford University.
Mr Holtshousen has taken over from the previous incumbent, Chris O'Brien, who recently resigned.
The Company President and CEO, Mr Alan Phillips, commented that:
"Building the right professional team with the mix of technical and development experience, is challenging in Western Australia and made more so now with the current resources boom. Macarthur Minerals has been able to secure what, I believe, to be 'top drawer' senior mining and geological executives with the right mix of technical ability, development drive and on the ground experience. David Larsen and Bernard Holtshousen, aided by Peter Svensson at the other team members at Macarthur Minerals will be instrumental in the successful development of the Company's Direct Shipping one (DSO) Hematite program, as well as the finalisation of the geological assessment of the Company's 1.3 billion tonne magnetite resource."
ABOUT MACARTHUR MINERALS LIMITED (TSX VENTURE:MMS)(OTCQX:MMSDF)
Macarthur Minerals Limited, is a Perth, Australia based resource Development Company (listed on the TSX-V and OTCQX exchanges) focused on developing its substantial Iron Ore project, located in the Yilgarn region of Western Australia. The Macarthur Iron Ore project has access to a rail line (located 110km from the project) through to the iron ore handling facilities at the Port of Esperance, Western Australia. The project has a resource of 1.3 billion tones of magnetite that has been reported in accordance with National Instrument 43-101 and 20 million tones of potential direct shipping ore (DSO) goethite/hematite. MMS has completed a positive scoping study on the magnetite and a prefeasibility study for the DSO hematite is well advanced.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
Alan Phillips
President, Chairman & CEO
Caution Regarding Forward Looking Statements
The forward-looking statements in this document reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this document, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that is referenced in this document or was otherwise relied upon by the Company in preparing this document. Although the Company believes the expectations expressed in such forwardlooking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. The term "ore" in DSO is not meant to imply economic viability has been established. Factors that could cause actual results to differ materially from those in forwardlooking statements include unforseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore or magnetite and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this document are made as of the date of this document. Except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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 or this release.
Contact Information
The Buick Group
Jonathan Buick
Corporate Relations
416-915-0915
jbuick@buickgroup.com
Macarthur Minerals Limited - Australia
Alan Phillips
+61 418 726 230
strategiccapital@bigpond.com
www.macarthurminerals.com
