PERTH, WESTERN AUSTRALIA--(Marketwire - July 17, 2012) -
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Marengo Mining Limited (TSX:MRN.TO - News)(ASX:MRN.AX - News)(POMSoX:MGO.AX - News) ("Marengo" or the "Company") is pleased to announce the appointment of Mr Stevie T.S. Nion as PNG Country Manager, further strengthening its executive management team, as it moves towards possible development of its flagship Yandera Copper-Molybdenum-Gold Project in Papua New Guinea ("PNG").
Mr Nion is a geologist by profession and has more than 30 years experience in the PNG mining industry. During that time he has held a number of senior government positions, including Chief Government Geologist and Director of the Geological Survey, Deputy (and Acting Secretary) of the former PNG Department of Mining, and since 2007, inaugural Deputy General Manager - Minerals for PNG government mining company, Petromin PNG Holdings Limited. He holds a Bachelor of Science (Geology) from the University of Papua New Guinea, a Master of Science (Geology) from Sydney University and a Master in Management Studies from the Papua New Guinea University of Natural Resources and Environment (formerly the University of Vudal).
Commenting on Mr Nion's appointment, Marengo's Managing Director and CEO, Mr Les Emery, said "We are very pleased to have Stevie join the Marengo management team at a crucial phase in the Company's development, as it moves to complete the Feasibility Study on its Yandera Project. With extensive experience in the PNG mining industry, particularly as a senior public servant in the mining sector, Stevie will add a new dimension to the skill base of Marengo's management," he added.
Reporting to Marengo's Managing Director, Mr Nion is based in the Company's recently opened office in PNG's national capital, Port Moresby. He will be responsible for managing Marengo's corporate affairs in Papua New Guinea, including progressing matters with PNG National and Provincial Government departments, and agencies, strategic partners, and other stakeholders.
The opening of an office in Port Moresby complements Marengo's other PNG bases at the Yandera Project and Madang, both located within the Madang Province.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or to be achieved and any other similar expressions. In providing the forward-looking information in this news release, the Company has made numerous assumptions regarding: (i) the accuracy of exploration results received to date; (ii) anticipated costs and expenses; (iii) that the results of the FS continue to be positive; and (iv) that future exploration results are as anticipated. Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risks Factors" in the Company's annual information form available on the SEDAR website. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, Marengo does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place under reliance on forward-looking information.
Please note that the Head Office of Marengo is located in Western Australia and is 12 hours ahead of Toronto time.
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