HOYT LAKES, MINNESOTA--(Marketwire
- March 10, 2011) - PolyMet Mining Corp. (TSX:POM)(NYSE Amex:PLM)
("PolyMet" or the
"Company") announced today that it has appointed Alan R. Hodnik and Michael M. Sill to its Board of
Directors.
Al Hodnik was named President of ALLETE, Inc.
in May 2009 and CEO of that company in May 2010. Since joining ALLETE
in 1982, Mr. Hodnik has served as Vice
President-Generation Operations, Senior Vice President of Minnesota
Power Operations, and Chief Operating Officer. As Chief Operating
Officer, he led transmission, distribution, generation, and engineering
for all aspects of the Company. Mr. Hodnik
was the elected mayor of the City of Aurora, MN from 1988 to 1998. He
is a member of the board of Essentia Health -
East Region and of the Area Partnership for Economic Expansion (APEX).
Mr. Hodnik has served ALLETE for 29 years,
working in a wide variety of positions of increasing responsibility. He
brings utility operations, strategic planning, leadership, and broader
organizational development experience, as well as a deep understanding
of the region served by that company.
Mike Sill has served as President and CEO of Road Machinery &
Supplies Co. since 1994, having joined the company in 1988. Road
Machinery is a distributor of construction, mining and forestry
equipment. Educated at Dartmouth College and J.L. Kellogg Graduate
School of Management, Mr. Sill started his career as a financial
analyst and commercial lending officer with The Northern Trust Company.
He has served on the boards of the Equipment Distributors Association
of MN, Associated General Contractors of MN, and the Twin Cities
Regional Board of US Bank.
Frank Sims, Co-Chair of PolyMet stated,
"I welcome Al and Mike to our board. They bring extensive business
experience in the upper Midwest and we look forward to their guidance
as we complete the environmental review and permitting process for our NorthMet project."
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is
a publicly-traded mine development company that controls 100% of the NorthMet copper-nickel-precious metals ore body
through a long-term lease and owns 100% of the Erie Plant, a large
processing facility located approximately six miles from the ore body
in the established mining district of the Mesabi Range in northeastern
Minnesota. PolyMet Mining Corp. has completed
its Definitive Feasibility Study and is seeking environmental and
operating permits to enable it to commence production. The NorthMet project is expected to require more than
one-and-a-quarter million hours of construction labor and create
approximately 360 long-term jobs, a level of activity that will have a
significant multiplier effect in the local economy.
POLYMET MINING CORP.
Joe Scipioni, CEO
This news release contains certain forward-looking statements
concerning anticipated developments in PolyMet's
operations in the future. Forward-looking statements are frequently,
but not always, identified by words such as "expects,"
"anticipates," "believes," "intends,"
"estimates," "potential," "possible,"
"projects," "plans," and similar expressions, or
statements that events, conditions or results "will,"
"may," "could," or "should" occur or be
achieved or their negatives or other comparable words. These
forward-looking statements may include statements regarding our beliefs
related to the expected proceeds and closing of the registered direct
offering, exploration results and budgets, reserve estimates, mineral
resource estimates, work programs, capital expenditures, actions by
government authorities, including changes in government regulation, the
market price of natural resources, costs, or other statements that are
not a statement of fact. Forward-looking statements address future
events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those in the
forward-looking statements due to risks facing PolyMet
or due to actual facts differing from the assumptions underlying its
predictions. PolyMet's forward-looking
statements are based on the beliefs, expectations and opinions of
management on the date the statements are made, and PolyMet
does not assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations and opinions should
change.
Specific reference is made to PolyMet's most
recent Annual Report on Form 20-F for the fiscal year ended January 31,
2010 and in our other filings with Canadian securities authorities and
the Securities and Exchange Commission, including our Report on Form
6-K providing information with respect to our operations for the nine
months ended October 31, 2010 for a discussion of some of the risk
factors and other considerations underlying forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
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