Ferrum Americas Announces Appointment of New Director and Grant of Stock Options
14 January 2014 - 8:45AM
Marketwired
Ferrum Americas Announces Appointment of New Director and Grant of
Stock Options
TORONTO, ONTARIO--(Marketwired - Jan 13, 2014) - Ferrum Americas
Mining Inc. ("Ferrum" or the "Company") (TSX-VENTURE:FEM) is
pleased to announce the appointment of Mr. Saifeng (Adam) Yu to the
Company's Board of Directors.
Mr. Yu is an officer of Prestige Times Limited, a Hong
Kong-based investment company, and brings an in-depth understanding
of resource industry finance, Asian capital markets and Latin
American mining.
He holds a Major in Business Management from Pace University in
New York and is fluent in Mandarin, Cantonese, Spanish and
English.
"We are delighted to welcome Adam to our board of directors,"
Laurence Curtis, Chairman of the Board commented. "Adam will be
playing an important role at Ferrum as we develop our strategic
relationship with our new Hong Kong-based shareholders," he
added.
Prestige Times is a Hong Kong investment company which
subscribed to a private placement in Ferrum last December. Please
see our press release dated Dec 10, 2013 for complete details of
the private placement on our website at www.ferrumamericas.com.
Mr. Yu's appointment remains subject to the approval of the TSX
Venture Exchange.
The Company also announces that it has granted an aggregate of
1,600,000 stock options to directors of the Company pursuant to the
Company's stock option plan (the "Plan"). The Options are
exercisable into common shares of the Company at an exercise price
of $0.10. The options have a five-year term to expiry.
About Ferrum Americas Mining
Ferrum Americas is focused on developing iron ore, base and
precious metals projects in the Americas.
Ferrum Americas has rights to acquire a 98% interest in the
Cerro Rojo iron ore project in Bolivia. Located 600 kilometres east
of Santa Cruz and approximately 55 kilometres from Puerto Suarez
and the Hidrovia river system near Corumba, Brazil, Cerro Rojo is a
large banded iron formation striking for more than 4 kilometres,
according to reports prepared by Rio Tinto in 1999 and verified by
Ferrum.
A NI 43-101 mineral resource estimate, prepared by P&E
Mining Consultants Inc., includes Indicated resources of 111.0
million tonnes at 48.1% Fe and Inferred resources of 175.9 million
tonnes grading 48.8% Fe at a 15% iron cut-off grade.
At a cut-off grade of 50% Fe, Indicated resources are 31.2
million tonnes at 51.5% Fe and Inferred resources are 63.0 million
tonnes at 52.0% Fe. The NI-43-101 Technical Report is available at
www.ferrumamericas.com.
Ferrum is also evaluating other iron ore and base and precious
metals opportunities within Bolivia and throughout the
Americas.
Forward Looking Statements
This news release may contain forward-looking statements
that are based on Ferrum Americas Mining Inc.'s expectations,
estimates and projections regarding its business and the economic
environment in which it operates. These statements are not
guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore,
actual outcomes and results may differ materially from those
expressed in these forward-looking statements and readers should
not place undue reliance on such statements. Statements speak only
as of the date on which they are made, and the Company undertakes
no obligation to update them publicly to reflect new information or
the occurrence of future events or circumstances, unless otherwise
required to do so by law.
Ferrum Americas Mining Inc.Laurence CurtisChairman289 242
7422lwcurtis@cogeco.caFerrum Americas Mining Inc.Nick
TintorPresident and CEO416 987 0855ntintor@rgmi.caFerrum Americas
Mining Inc.Leslie HaddowCorporate
Secretary416-637-3523lhaddow@rgmi.cawww.ferrumamericas.com
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