- New Board of Directors and Officers reflect the shift in focus from exploration to production
MONTREAL, June 20, 2011 - Argex Mining Inc. (Argex) (TSX-V: RGX) (FSE: ASV) (OTCBB: ARGEF) held its annual meeting of shareholders today in Montreal and elected a new board of directors and announced changes to the management team which demonstrate a strategic commitment towards production as the company transitions from a mining exploration company into a producer.
The board of directors of Argex now consists of Mark Billings, Roy Bonnell, Anthony Garson, Peter H. Smith and Robert Guilbault. Among the newly-elected directors is Robert Guilbault, the former President and Chief Executive Officer of Aluminerie Allouette Inc. (operator of the world's 5th largest aluminum smelter) located at Sept-Iles on the North Shore of Quebec.
Management changes include the shifting of Michael Dehn's responsibilities to the development and commercialization of the company's technologies and third-party licensing, as well as industry and end-user relationships. Mr. Roy Bonnell has been appointed as the new President and CEO of Argex following the resignation of Mr. Dehn.
"Robert brings a wealth of operational experience at the most senior level," commented Roy Bonnell, President and CEO of Argex, "together with our recent addition of Enrico Di Cesare as Argex's COO, we are laying the foundation towards building a production-focused team."
Mr. Di Cesare, a metallurgical engineer, joined Argex's team in April, 2011, bringing with him 25 years of experience in metallurgical processing, steel production, equipment, human resources and mining. "Enrico is working closely with our team of consulting engineers towards our prime objective of a successful preliminary economic assessment," added Roy Bonnell.
"Michael Dehn will be leading the commercialization of our technology. It is a crucial role and given his strong industry and end-user relationships, we don't think there is anyone better for the job and we are confident of his success," stated Roy Bonnell. "Our technology will be a key part of our company's operational success," he added.
Roy Bonnell, Argex's new president and CEO, is one of the company's founders and has been a member of Argex's board of directors since its inception. In addition, he has served as its Corporate Secretary, Vice-President and CFO. Mr. Bonnell has served on the board of directors and as an officer of a variety of both public and private companies. He is a graduate of the London School of Economics, McGill University, the University of Western Ontario and Queen's University and has been a member in good standing of the Law Society of Upper Canada since 1996.
About Argex Mining Inc.
ARGEX MINING INC. is transitioning from a titanium, iron and vanadium explorer to a development company with projects in Quebec, Canada. The Company is committed to its strategic plan of rapidly advancing towards profitable production at its 100% owned La Blache deposits located near Baie-Comeau, Quebec. For additional information please visit our website at www.argex.ca.
Forward-Looking Statements:
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company�s products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
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.