VANCOUVER, BRITISH COLUMBIA--(Marketwire -06/15/12)- THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Macarthur Minerals Limited (MMS.TO)(MMSDF) (the "Company" or "Macarthur") is pleased to announce the appointment of Mr Jeffrey Charles Wall, CBE, as a non-executive director, subject to TSX approval. Mr Wall will serve as a member of the Company's Audit Committee and Remuneration and Nomination Committee.
Mr Wall, is a public affairs advisor and consultant and over the past forty years in this capacity has served as chief and senior advisor to Prime Ministers and Senior Ministers in Papua New Guinea; as a senior advisor to federal and state Ministers in the Australian Federal and Queensland Governments; and as an advisor to the Lord Mayor of Brisbane. He has also acted as a consultant to the World Bank, and to the Queensland Government, on issues relating to Papua New Guinea and the South Pacific.
He provides public affairs advisory services via Jeffrey Wall Public Affairs to a number of major international mining, infrastructure and engineering companies.
He began his working life as a journalist, and in addition to his professional activities has served in administrative roles in rugby league, the Anglican Church, and several charities.
In 1992 he was made an Officer of the Order of the British Empire (OBE) and in 2010 a Commander of the Order of the British Empire (CBE) for services to government and community in Papua New Guinea.
Macarthur's President, Chairman and CEO, Alan Phillips commented that, "Jeffrey has exceptional experience in Australia and overseas advising governments and major mining and engineering companies in dealing with government processes and approvals.
As Macarthur transitions from an exploration focused company to a development and mining company, Jeffrey's intimate knowledge of, and experience with, governmental processes is expected to make a valuable contribution. In addition, the Company will be seeking to develop strategic partnerships for project and infrastructure finance, product off-take, engineering and mining services. Jeffrey is presently involved with these major companies and I know he will use these relationships to advance Macarthur's development."
Macarthur Minerals Limited is an Australian based resource development company currently focused on developing its Ularring Hematite Project, located in the Yilgarn iron ore district in Western Australia. The Ularring Hematite Project is located 110 km from rail infrastructure with a direct connection to the iron ore exporting Port of Esperance, Western Australia.
The Ularring Hematite Project has an indicated resource of 54.46 Mt at 47.2% Fe and an inferred resource of 25.39 Mt at 45.2% Fe (press release dated June 14, 2012; NI43-101 Technical Report to be filed). In addition, Macarthur's Moonshine Magnetite Project has an inferred resource of 1.3 Bt at 30.1% Fe (press release dated December 15, 2010; NI43-101 Technical Report dated March 25, 2011).
Positive Preliminary Economic Assessments were released to the market on the Ularring Hematite Project in November 2011 (press release dated November 21, 2011) and the Moonshine Magnetite Project in February 2011 (press release dated February 7, 2011).
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
Alan Phillips, President, Chairman & CEO
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. The forward-looking statements in this press release 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 press release, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking 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. Factors that could cause actual results to differ materially from those in forward-looking statements include unforeseen 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 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 press release are made as of the date of this press release and 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.
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