VANCOUVER, Sept. 17, 2013 /CNW/ - Endeavour Mining
Corporation ("Endeavour" or the "Corporation")
(TSX:EDV, ASX:EVR, OTCQX:EDVMF) reports that, effective today,
the
three members of the Strategic Advisory Board, namely Ian Cockerill,
Frank Giustra and Miguel Rodriguez, have been appointed to the
Board of
Directors. Concurrent with these appointments, Jorge L.
Gamarci and
Dr. Antony Harwood have resigned
from the board, resulting in a
seven-member board.
In late 2012, Endeavour
established a non-authoritative Strategic
Advisory Board with three highly experienced executives in the
gold
industry and international finance: Ian
Cockerill, former CEO of Gold
Fields Ltd. and a seasoned senior gold mining executive with
African
expertise; Frank Giustra, a
successful company financier with a track
record of building natural resource companies; and Miguel Rodriguez, an
economist with international finance and policy decision making
experience with the Central Bank of Venezuela, the IMF and the World
Bank.
Michael Beckett, Chairman,
stated
"By integrating the three-member Strategic Advisory Board, the
Board of
Directors is bolstering its capabilities and by winding down
the
Strategic Advisory Board, we will also be more streamlined.
Each of
our new directors has a deep understanding of Endeavour's business and
will help us execute on our strategy going forward.
On behalf of the Board of Directors, I would like to thank Jorge
and
Antony for their significant contributions to the development
of
Endeavour."
Following the changes, the Board of Directors now consists of
seven
members of whom six are non-executive and independent.
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Michael Beckett
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Chairman and Non-executive Director
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Ian Cockerill
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Non-executive Director
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Frank Giustra
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Non-executive Director
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Ian Henderson
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Non-executive Director
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Wayne McManus
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Non-executive Director
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Miguel Rodriguez
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Non-executive Director
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Neil Woodyer
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Chief Executive Officer and President, and Director
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About Endeavour Mining Corporation
Endeavour is a gold producer
delivering growth. Endeavour owns
three
gold mines producing more than 300,000 ounces per year in
Mali, Ghana
and Burkina Faso.
Endeavour's annual gold production
is forecast to
exceed 400,000 ounces per year during 2014, including the start-up
of
production at the Agbaou Gold Mine in Cote d'Ivoire scheduled for Q1
2014. In addition, a January 2013 PEA
shows potential for 160,000
ounces per year from the Houndé Project in Burkina Faso, which is being
assessed by a feasibility study during 2013.
Endeavour Mining Corporation is listed on the TSX (symbol EDV) and
ASX
(symbol EVR), and also trades on the OTCQX (symbol EDVMF).
On behalf of Endeavour Mining Corporation
Neil Woodyer
Chief Executive Officer
This news release contains "forward-looking statements" including
but
not limited to, statements with respect to Endeavour's plans and
operating performance, the estimation of mineral reserves and
resources, the timing and amount of estimated future production,
costs
of future production, future capital expenditures, and the success
of
exploration activities. Generally, these forward-looking statements
can
be identified by the use of forward-looking terminology such as
"expects", "expected", "budgeted", "forecasts" and
"anticipates".
Forward-looking statements, while based on management's best
estimates
and assumptions, are subject to risks and uncertainties that may
cause
actual results to be materially different from those expressed
or
implied by such forward-looking statements, including but not
limited
to: risks related to the successful integration of acquisitions;
risks
related to international operations; risks related to general
economic
conditions and credit availability, actual results of current
exploration activities, unanticipated reclamation expenses; changes
in
project parameters as plans continue to be refined; fluctuations
in
prices of metals including gold; fluctuations in foreign
currency
exchange rates, increases in market prices of mining
consumables,
possible variations in ore reserves, grade or recovery rates;
failure
of plant, equipment or processes to operate as anticipated;
accidents,
labour disputes, title disputes, claims and limitations on
insurance
coverage and other risks of the mining industry; delays in the
completion of development or construction activities, changes
in
national and local government regulation of mining operations,
tax
rules and regulations, and political and economic developments
in
countries in which Endeavour
operates. Although Endeavour has
attempted
to identify important factors that could cause actual results to
differ
materially from those contained in forward-looking statements,
there
may be other factors that cause results not to be as
anticipated,
estimated or intended. There can be no assurance that such
statements
will prove to be accurate, as actual results and future events
could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking
statements. Please refer to Endeavour's most recent Annual Information
Form filed under its profile at www.sedar.com for further
information respecting the risks affecting Endeavour and
its business.
Appendix - Overview of the New Directors
Ian Cockerill - With nearly
40 years of experience in exploration and mining, Mr.
Cockerill has extensive knowledge of the global gold industry and
the
African operating environment. He is the former CEO of Gold
Fields
Limited and Anglo Coal Ltd., and former Executive Of?cer of
Business
Development and African Operations at AngloGold Ltd. Mr.
Cockerill is
currently Non-executive director and Vice Chairman of African
Minerals
Limited, the AIM-listed iron ore producer with operations in
Sierra
Leone, Chairman of Hummingbird Resources PLC, the AIM-listed
Liberian
gold explorer, Executive Chairman of Petmin Limited, a JSE
quoted
natural resource company, Lead Independent director of Ivanhoe Mines, a
TSX-listed African exploration and development company and
Non-executive director of Orica Limited in Australia. Mr. Cockerill is
also Chairman of the LCA (Leadership for Conservation in
Africa) which
has the vision to save 20 million hectares of rainforest in
Africa by
2020.
Frank Giustra - Mr. Giustra
is President and Chief Executive Officer of Fiore Financial
Corporation, a private firm managing a broad portfolio of
private
equity investments. Mr. Giustra has an established track record
of
building natural resource companies through access to capital
and
creative deal-making. As President and later Chairman and
Chief
Executive Officer of Yorkton Securities in the 1990s, he grew the
firm
into a leading natural resource investment bank. As Chairman of
Endeavour Financial from 2001 to 2007, his vision and leadership
led to
the successful launch of numerous resource companies, including
Wheaton
River Minerals Ltd. (acquired by Goldcorp Inc.), Silver Wheaton
Corp.
and Pacific Rubiales Energy Corp. Mr. Giustra's entrepreneurial
successes also include the founding of Lionsgate Entertainment
Corporation, now one of the world's largest independent film
companies.
Frank Giustra is a member of the
board of the International Crisis
Group, Lionsgate Entertainment Corporation, Petromanas Energy
Inc.,
Streetohome Foundation and a Trustee of the Boston's Museum of Fine
Arts. He is also founder and President of The Radcliffe Foundation.
In
2007, Frank Giustra and Former
President Bill Clinton launched
the
Clinton Giustra Enterprise Partnership, alleviating poverty in
the
developing world through education, training and supply chain
distribution.
Miguel Rodriguez - Mr.
Rodriguez has extensive experience in the private, public and
academic sectors. He is currently a Director of several
international
companies in the natural resources area, including the highly
successful Pacific Rubiales Energy Corp. where he has been
Director
since its foundation. In the financial sector, he is currently
the
Director of D.Societe Financiere in Geneva. In the public sector, Mr.
Rodriguez was the Economic Minister and Chief of the Economic
Cabinet
of the Republic of Venezuela from
1989 to 1992. He was also President
of the Central Bank of Venezuela
in 1992, and Governor to the
International Monetary Fund, the World Bank, and the
Inter-American
Development Bank during 1989-1992. From 1992-1994, he was
Senior
Advisor to the World Bank. He also had a long academic career
as
Professor of Economics at IESA in Caracas from 1984 to 2008. He was
also a Visiting Scholar at the Peterson Institute for
International
Economics in Washington DC, in
1987-1988, and has written extensively
on the Latin American and the international economy. Mr.
Rodriguez
holds a Ph.D. in Economics from Yale
University, with specialisation in
Macroeconomics, International Trade and Finance, and Money and
Banking.
SOURCE Endeavour Mining Corporation