Orvana Announces the Appointment of Two New Directors
TSX:ORV
TORONTO, Nov. 24, 2015 /PRNewswire/ -- Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") is pleased to announce the appointment of Ms. Sara Magner and Mr. Juan Gavidia as new directors of the Company.
Ms. Magner is an attorney with a focus on corporate and transactional work, including mergers and acquisitions, securities regulation and corporate governance issues. She has served as the Corporate Secretary and General Counsel of Minera S.A. ("Minera"), an affiliate of Orvana's majority shareholder Fabulosa Mines Limited, since 2010. Prior to her current position, Ms. Magner was an Associate in the Corporate and Securities practice at the global law firm, Greenberg Traurig LLP. Prior to joining Greenberg Traurig in 2005, Ms. Magner spent seven years working in various segments of Siemens' operations in the United States and Germany, including working in International Human Resources at Siemens AG in Erlangen, Germany, and as a Manager of Human Resources at Siemens Energy & Automation in Georgia. Ms. Magner holds a J.D. (with high honors) from The George Washington University School of Law and a Bachelor's of Science degree from Emory University.
Mr. Gavidia is a mining professional with over 20 years of leadership experience spearheading business initiatives and providing operational support to projects in the United States, Peru, Chile, Argentina, Australia, Mexico and New Zealand. Since 2012, Mr. Gavidia has been an independent consultant and is currently focused on general management of the SCM Antakena project in Chile and global business development initiatives for Minera. From 1994 until 2012, Mr. Gavidia worked with Newmont Mining in various positions of increasing responsibility, including as Operational Readiness Senior Project Manager for Newmont's Global Projects group in Peru and as Management Operating System Global Project Manager at Newmont's corporate office in Colorado. Mr. Gavidia holds a Bachelor of Science in Industrial Engineering from the National University of Engineering in Lima, Peru and a Master of Business Administration from the Pennsylvania State University.
"On behalf of the Board of Directors, I would like to extend a warm welcome to both Ms. Magner and Mr. Gavidia. They have extensive in-depth industry experience that will allow them to greatly contribute as part of our Board to guide management in achieving the Company's strategic goals," said Mr. Jacques McMullen, Chairman of the Board of Directors of Orvana.
About Orvana
Orvana is a multi-mine gold and copper producer. Orvana's operating assets consist of the producing gold-copper-silver El Valle mine in northern Spain and the producing gold-copper-silver Don Mario mine in Bolivia. Additional information is available at Orvana's website (www.orvana.com).
Cautionary Statements - Forward-Looking Information
Certain statements in this information constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements. The forward-looking statements herein relate to, among other things,
Orvana's ability to achieve improvement in free cash flow; the potential to extend the mine life of El Valle Mine and Don Mario Mine beyond their current life-of-mine estimates; Orvana's ability to optimize its assets to deliver shareholder value; Orvana's ability to optimize productivity at El Valle; estimates of future production, operating costs and capital expenditures; mineral resource and reserve estimates; statements and information regarding future feasibility studies and their results; future transactions; future metal prices; the ability to achieve additional growth and geographic diversification; future financial performance, including the ability to increase cash flow and profits; future financing requirements; and mine development plans. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Orvana as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Orvana contained or incorporated by reference in this information, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in Orvana's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the "Company Disclosures") or as otherwise expressly incorporated herein by reference as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at El Valle Mine and Don Mario Mine being consistent with Orvana's current expectations; political developments in any jurisdiction in which Orvana operates being consistent with its current expectations; certain price assumptions for gold, copper and silver; prices for key supplies being approximately consistent with current levels; production and cost of sales forecasts meeting expectations; the accuracy of Orvana's current mineral reserve and mineral resource estimates; and labour and materials costs increasing on a basis consistent with Orvana's current expectations. A variety of inherent risks, uncertainties and factors, many of which are beyond the Orvana's control, affect the operations, performance and results of Orvana and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward-looking statements. Some of these risks, uncertainties and factors include fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; Orvana's ability to obtain and maintain all necessary regulatory approvals and licenses; Orvana's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including Orvana's ability to continue to operate El Valle Mine and/or the Don Mario Mine; Orvana's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; Orvana's ability to obtain financing when required on terms that are acceptable to Orvana; Orvana's ability to execute on its strategy; challenges to Orvana's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which Orvana operates; general economic conditions worldwide; and the risks identified in the Company's Disclosures under the heading "Risks and Uncertainties". This list is not exhaustive of the factors that may affect any of Orvana's forward-looking statements and reference should also be made to the Company's Disclosures for a description of additional risk factors. Any forward-looking statements made in this information with respect to the anticipated development and exploration of Orvana's mineral projects are intended to provide an overview of management's expectations with respect to certain future activities of Orvana and may not be appropriate for other purposes. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, Orvana does not undertake any obligation to update forward looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.
For further information: Daniella Dimitrov, President & CEO, T (416) 369-1629, E ddimitrov@orvana.com; Joanne Jobin, Investor Relations Officer, T (416) 369-6275, E jjobin@orvana.com
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