Business & Finance
Business and Finance
Business and Finance
Tue, August 4, 2009 Consolidated Thompson Iron Mines Limited: Consolidated Thompson Appoints C. Kevin Mcarthur to Board of Directors
TORONTO, ONTARIO--(Marketwire - Aug. 4, 2009) - Consolidated Thompson Iron Mines Limited (TSX:CLM)("CLM" or the "Company") announced today that C. Kevin McArthur has been appointed to the Board of Directors, effective immediately.
Mr. C. Kevin McArthur, has enjoyed thirty years of experience in the minerals resource industry. A third-generation miner, he recently retired as President and CEO of Goldcorp, Inc. - One of Canada's largest corporations and the world's number two gold miner by market capitalization. Mr. McArthur was President and CEO of Glamis Gold Ltd. from 1999 until its merger with Goldcorp in November 2006. He continued as President and CEO of the new US$28 billion Goldcorp until December, 2008. Mr. McArthur joined Glamis in 1988, moving into the positions of Vice President of Chemgold Inc, President of Glamis Rand Mining Company and Chief Operating Officer of the company. Prior to joining Glamis, Mr. McArthur held a variety of engineering and operations management positions with BP Minerals North America and Homestake Mining Company. Mr. McArthur holds a Bachelor of Science degree in Mining Engineering from the University of Nevada (1979).
The Hon. Brian V. Tobin, Executive Chairman, stated "Kevin is a tremendous addition to our Board. He understands the needs of a mining company with a strong growth agenda. We are fortunate to have Kevin around our Boardroom table."
Mr. McArthur stated "I'm very excited to be joining the Consolidated Thompson team. This new Canadian mine has been developed at a very impressive pace and I truly believe all the elements are now in place for CLM to become a world class player in the iron ore business."
Mr. Richard Quesnel, President & CEO of CLM, stated "I'm extremely pleased to be able to draw upon the experience of a director like Kevin McArthur who has built, managed, and grown one of the largest gold plays in the world today."
About Consolidated Thompson Iron Mines Limited
Consolidated Thompson Iron Mines Limited is an exploration and development mining company. The Company believes that its updated positive Feasibility Study, based on the current understanding of the quality and size of the Bloom Lake deposit, reflects the potential to expand and advance the project and exploit other opportunities in the iron ore industry. The Company has approximately 193.7 million shares outstanding and trades on the TSX under the symbol "CLM".
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect of the role of Mr. McArthur and the anticipated impact of his appointment. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated impact of the appointment are based on his previous professional accomplishments and his competencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Consolidated Thompson to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks described in the annual information form of the Company posted under the profile of the Company on SEDAR at [ www.sedar.com ]. Although management of Consolidated Thompson has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, 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 information. Consolidated Thompson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
