VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2012) - New Hana Mining Ltd. (TSX VENTURE:HML) ("HML" or "New Hana") is pleased to welcome Mr. Gregory McKelvey to the Corporate Advisory Board. The Advisory Board provides strategic and tactical direction to advance New Hana's assets in Botswana's Kalahari Copperbelt towards a feasibility study.
Mr. McKelvey is a highly qualified and accomplished geologist renowned for a fast-paced practical approach to exploration programs. His exploration career spans four decades, starting as an Exploration Manager with Homestake and Cominco and includes a ten-year tenure at Phelps Dodge. At Phelps-Dodge, Mr. McKelvey was responsible for the technical oversight of geology and exploration at the producing mines in South America. He led the International Exploration Group responsible for the generation of new targets throughout the world. His last position was as Vice-President of Special Projects, and was responsible for leading the company's diversification into new minerals.
Mr. McKelvey has participated in, directed and lead innovative exploration efforts that have resulted in several discoveries including three world-class ore deposits including the team that found Sossego Brazil and working with Sierra Gorda discovery in Chile. His professional affiliations include active leadership participation with Geology Associations throughout the Americas. Currently, Mr. McKelvey serves as a Board Director for several junior exploration companies and serves as Founding Director of "Copper Discovery Ventures", a mineral resource incubator of projects in Chile.
Mr. McKelvey has been granted 150,000 incentive stock options exercisable at a price of $0.15 per share expiring on October 22, 2017. All securities issued upon exercise of the Options are subject to a hold period expiring four (4) months after the date of grant. The subject Options will vest quarterly over 24 months. The Options are subject to the terms and conditions of the Company's Stock Option Plan.
New Hana Copper Mining's President and CEO, Mr. Marek Kreczmer, comments:
"We are very pleased that Greg has accepted our offer to participate as an Advisor. His experience and skills will add drive and tactics to the Company's ambitions for this strategic world-class opportunity."
About New Hana Mining Ltd.
New Hana Mining has entered into an Acquisition and Joint Venture agreement with BSC Resources Limited of South Africa whereby New Hana has the option to earn up to a 100% interest in the Musina Copper Project located in northeast South Africa.
The Musina Project area is comprised of six Prospecting Rights covering 100 square kilometers (10,006.88 hectares) of highly prospective ground, which encompasses the Musina fault; a structure that is known to host a number of formerly producing high-grade copper, mines. The Project includes the formerly producing Artonvilla, Spence, Messina, Harper and Campbell underground copper mining operations. Mining activity was closed in 1993 due to low copper prices.
New Hana also has an exploration-stage copper-silver project, "The Kuke Project", located in the center of the Kalahari Copper Belt in northwestern Botswana, adjacent and along strike to Hana Mining Ltd.'s ("Hana") Ghanzi Copper Silver Project.
This press release was reviewed and approved by Marek Kreczmer, Chief Executive Officer for New Hana. He is the qualified person as defined in NI 43-101.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.