DGAP-News: United Mining Group appoints Charles Pitcher, P.E. as Independent Director
(firmenpresse) - United Mining Group / Change of Personnel
26.07.2010 15:30
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United Mining Group, Inc. (the 'Company' or 'UMG'), (CNSX: UMG, German
Stock Exchange, Munich: UM8) announces that the Board has appointed Charles
Pitcher as an independent director. Mr Pitcher is a mining engineer with
over 40 years experience and has held several senior executive management
and operating positions in the minerals industry.
'We believe Charles will make a significant contribution to UMG. He has an
enviable reputation in the market and deep knowledge of Idaho's Silver
Valley as a result of his previous association with the strategic planning
for the exploration, development and production at the Sunshine and
Crescent Silver Mines. He brings to UMG his critical mining expertise as
well as his extensive network in the industry. I am very pleased to welcome
Charles to our team', comments Greg Stewart (CEO).
Charles G. Pitcher, P.E.
Charles Pitcher has over 40 years of experience in senior executive
positions in civil construction and mine development with a consistent
record of accomplishment. He has extensive experience in the development
and operations associated with underground and open-pit mining. He has
built successful teams for the mine management and operations in both
developed and developing regions of the world.
More recently Mr. Pitcher was President and CEO of Western Canadian Coal
Corp in the development of the Northeast coal deposits for the Company and
remains a director of that company. He joined the Company in 2002 as Chief
Executive Officer to oversee the completion of feasibility studies and then
served as Chief Operating Officer from May 2004 to November 2004. Mr.
Pitcher is President of The Mining House Inc, a provider of engineering
services related to project development and management. Mr Pitcher also
holds Board positions with Western Coal Corp., Wildcat Resources and Sila
Industries Ltd.
Board Appointment
Mr Pitcher has been appointed as an independent director. The Board has
granted Mr Pitcher 300,000 options exercisable at $0.54 for a period of
five years from the date of issue, July 15, 2010.
About United Mining Group
United Mining Group is a vertically integrated mining company with
operations in Idaho, USA, combining both mining services and a significant
interest in the Crescent Silver Mine which generated $15.7 million revenue
in 2009.
The Company has commenced work on its option to acquire an 80% interest in
the Crescent Silver Mine through the expenditure of $9 million on mine
exploration, development and operations over three years. The mine is
located in the Silver Valley, Idaho, the second largest silver district in
the world. The Crescent Mine has a NI 43-101 indicated silver resource of
6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and
additional inferred silver resources of 4.1 million ounces silver (211,000
tons grading 19.5 opt silver).
The Crescent Silver Mine has historically produced 25 million ounces of
silver at an average grade of 27.3 opt (SRK Consulting 43-101 report, March
1, 2010).
The Company offers a full suite of mining services including contract
mining, contracting/construction (including mine remediation), and
fabrication and machine services. The Company owns its own custom welding
and fabrication shop, allowing it to repair/rebuild its own equipment and
supply outside customers. In 2009, Mining Services generated $15.7 million
revenue and $3 million operating income.
UMG is committed to building a senior silver producing mining company based
on aggressive exploration and development of the highly-prospective
Crescent Mine and through additional acquisitions in the Silver Valley and
other silver districts.
In compliance with NI 43 101, Lawrence Dick, Ph.D., P.Geo., is the
Qualified Person responsible for the accuracy of this news release.
On behalf of the Board of Directors of United Mining Group, Inc.,
Greg Stewart
President, CEO and Director
For more information about the Company, please visit:
www.unitedmininggroup.com
FOR MORE INFORMATION, PLEASE CONTACT:
Greg Stewart (CEO)
Tel: +1 208 682 9018
Email: gstewart(at)unitedmininggroup.com
26.07.2010 15:30 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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Datum: 26.07.2010 - 15:30 Uhr
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