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Re: News Release - Wednesday, May 13, 2009
Board Appointment
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Mano River Resources Inc. ("Mano" or the "Company") the TSX Venture
Exchange ("TSX-V") and AIM listed exploration and development company
focused on gold, iron ore and diamonds in West Africa is pleased to
announce the appointment of Mr Kirill S. Zimin to the Board of
Directors.
Severstal's representative
Following the completion of the deal with Severstal in December 2008,
and in accordance with the agreement signed on 22 May 2008, Mr Zimin
has been elected as the chosen representative of Severstal Resources to
complement the existing Board and oversee the 6.29% strategic
investment in Mano as well Severstal's 61.5% interest in the Putu Range
iron ore Joint Venture Severstal Liberia Iron Ore Ltd.
Mr Zimin joined "ZAO Severstal Resources" in 2006 and is Senior Manager
for Strategy and Corporate Development. In this capacity he is also
Head of Business Development for Africa. Previously Mr Zimin was Deputy
Director General at "OAO Kuzbassugol Coal Company" where he joined from
"OAO SUAL Holding" having worked for over three years as a specialist
in corporate governance. Mr Zimin graduated from the Moscow State
University with a Law degree.
Luis da Silva, President & CEO of Mano commented:
"This appointment not only strengthens the Mano Board but also our
relationship with Severstal in taking forward the Company's joint
objectives. We have an excellent relationship with the Severstal team
and we look forward to expanding on this in the future. This
appointment is an endorsement of the Company's strategy as we seek to
grow, especially in light of the amalgamation with African Aura
Resources."
There is no other information that is required to be disclosed pursuant
to Schedule 2 paragraph (g) of the AIM Rules, save as set out below:
Current Directorships Past Directorships within last 5 years
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OAO Coal Kuzbassugol
Kamensk-Uralsky Metallurgical Works
Volgograd Aluminimum Smelter
OAO Metallurg
ENDS
Severstal Resources is one of the biggest Russian mining companies and
manages all Severstal's mining assets: two iron ore mining complexes
and a coking coal complex in northwest
Russia, one coking coal complex
in USA (PBS Coals), an exploration project Severstal Liberia Iron Ore
in Western Africa and a mine design institute SPb-Giproshakht.
Severstal Resources also manages a number of gold mining assets in
Russia, Kazakhstan and Burkina Faso as well as several gold exploration
fields in these regions. In 2008 Severstal Resources' mines and plants
produced 9.3 million tonnes of iron ore pellets, 4.7 million tonnes of
iron ore concentrate, 4.6 million tonnes of coking coal concentrate,
0.7 million tonnes of coking coal, 2.2 million tonnes of steam coal and
6 tonnes of gold.
OAO Severstal is an international metals and mining company with a
listing on the Russian Trading System, Moscow Interbank Currency
Exchange and the London Stock Exchange. Incorporated in 1993, the
company focuses on high value added and unique niche products and has a
successful track record of acquiring and operating high-quality assets
in North America and Europe. Severstal owns mining assets in
Russia and
in the US, thus securing its supplies of raw materials. Its enterprises
are located in
Russia, Ukraine, Kazakhstan, United Kingdom, France,
Italy, United States and Africa. In 2008, Severstal produced 19.2
million tonnes of steel. Revenues were $22.4 billion and EBITDA was
$5.4 billion. EPS was $2.2.
For further information on Mano River Resources and its development
programmes, you are invited to visit the Company's website at
www.manoriver.com or contact one of the following:
Mano River Resources Inc
Luis da Silva, CEO
Tel: +44 (0) 20 7299 4212
Evolution Securities Limited
Simon Edwards / Chris Sim / Neil Elliot
Tel: +44 (0) 20 7071 4300
Pelham Public Relations
Charles Vivian / James MacFarlane
Tel: +44 (0) 20 7337 1500
Mob: +44 (0) 7797 297903
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.
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Copyright (c) 2009 MANO RIVER RESOURCES INC. (MANA) All rights
reserved. For more information visit our website at
http://www.manoriver.com/ or send mailto:releases@manoriver.com
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