TIMMINS, ON, Jan. 5 /PRNewswire-FirstCall/ - Moneta Porcupine Mines Inc. (TSX: ME/XETRA: MOP) ("Moneta") is pleased to announce the appointment of Dr. K. Sethu Raman to its Board of Directors, subject to standard TSX approval.
Dr. Raman holds a Ph.D degree in Geology from Carleton University, Ottawa and a UNESCO Post-Graduate Diploma from the University of Vienna, Austria. Dr. Raman has over 40 years of international experience in all phases of exploration, mine development, acquisition and operations including the financial and legal areas. He has held directorships and senior executive positions in a number of TSX-listed mining companies and has pioneered many new exploration concepts and strategies which have led to the discovery of eleven significant mineral deposits located near established mining camps, six of which went on to become producing gold mines.
Dr. Raman was most recently (1986 to 2004) President and CEO of Holmer Gold Mines Limited which discovered and developed the Timmins Gold deposit in 'West' Timmins, Ontario and completed a business combination with Lake Shore Gold Corp. in 2004. Dr. Raman remains a significant shareholder and director of Lake Shore Gold Corp.
Dr. Raman previously spent 13 years with Campbell Chibougamau Mines/Campbell Resources and the Royex Gold Mining Group of companies (now Barrick Gold Corporation) in various management positions, including Vice President (1980 to 1986) where he played a key role in several major acquisitions and gold discoveries.
"We are pleased to attract top-tier talent such as Dr. Raman to the Board of Directors. Moneta's technical depth continues to be enhanced and we look forward to Dr. Raman's insight and perspective in the advancement of Moneta's extensive and highly prospective property package," commented Ian C. Peres, President and CEO.
Moneta is a long-established gold mineral exploration and development company and former gold producer which owns one of the largest property portfolios over approximately 10% (from Timmins, Ontario to the Quebec border) of the Destor Porcupine Fault Zone, one of the key structural features in the Abitibi Greenstone belt in Ontario. Moneta owns 100% of the Golden Highway Project, North Tisdale, Nighthawk Lake, Kayorum and Denton Thorneloe (West Timmins) core projects located in the Porcupine and Golden Highway Camps, one of the most prolific gold producing regions in North America, with over 72 million ounces of gold mined to date.
SOURCE Moneta Porcupine Mines Inc.