SYS-CON MEDIA Authors: Bob Gourley, Lori MacVittie, RealWire News Distribution, Cynthia Dunlop, Mark O'Neill

News Feed Item

Orvana Appoints Michael Winship as President and CEO

TORONTO, ONTARIO -- (Marketwired) -- 12/03/13 -- Orvana Minerals Corp. (TSX: ORV) (the "Company") is pleased to announce that Michael Winship has been appointed Orvana's President and Chief Executive Officer. Michael had been filling the role on an interim basis since April this year.

Michael has over 30 years' experience in mine development, operations, and corporate business. He has over 30 years of international experience in the operation or development of over 20 mines in diverse working jurisdictions. Michael was previously the Chief Operating Officer of Quadra FNX Mining Ltd., prior to its acquisition by KGHM, and President of HudBay Minerals Inc. prior to that. He has also held executive level positions with PT International Nickel Tbk and Vale Inco Limited. Michael has served as a Director on several Boards and is currently with Rubicon Minerals in that capacity. Michael holds a bachelor's degree in mining engineering from McGill University.

"Michael's strong operational background fits well with Orvana's needs and the Board is pleased that he has agreed to take the role on permanently." said Robert Mitchell, Chairman. "He brings years of invaluable experience both in managing and developing international mining assets and has already made a significant contribution to improving Orvana's operations."

The Company recently announced meeting FY2013 production guidance and announced FY2014 guidance of 80,000 to 93,000 ounces gold, 18 to 20 million pounds copper and 875,000 to 950,000 ounces silver.

"I am very pleased to join Orvana Minerals as we have a great team and excellent growth opportunities with our assets. My vision is to lead Orvana to mid-tier producer status while consistently maintaining strong financial margins. Our focus in FY2014 is not only to exceed production guidance but further drive down our costs, continue to improve safety performance and pay down debt, improving our overall balance sheet. Orvana is coming off two record quarters and we are ready to capture the eventual upswing in the metals markets" said Michael Winship.

About Orvana

Orvana Minerals is a multi-mine gold and copper producer. Orvana's primary asset is the El Valle/Boinas-Carles gold-copper Mine in northern Spain. Orvana also owns and operates the Don Mario Mine in Bolivia, processing its copper-gold-silver Upper Mineralized Zone deposit. Orvana is also advancing its Copperwood copper project in Michigan, USA. Additional information is available at Orvana's website (www.orvana.com).

Forward Looking Disclaimer

Certain statements in this press release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements.

Forward-looking statements relate to, among other things, all aspects of the development of the Upper Mineralized Zone deposit ("the UMZ Mine") at the Don Mario Mine in Bolivia, the El Valle- Boinas/Carles Mine (the "EVBC Mine") in Spain and the Copperwood project (the "Copperwood Project") in Michigan and their operations and production; the outcome and timing of decisions with respect to whether and how to proceed with such development and production; the timing and outcome of any such development and production; estimates of future capital expenditures; mineral resource estimates; estimates of permitting time lines; statements and information regarding future feasibility studies and their results; production forecasts; future transactions; future metal prices; the ability to achieve additional growth and geographic diversification; future operating costs; future financial performance, including the ability to increase cash flow and profits; future financing requirements; and mine development plans.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Orvana as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Orvana contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the "Annual Disclosures"), or as otherwise expressly incorporated herein by reference as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at the UMZ Mine, the EVBC Mine and the Copperwood Project being consistent with the Company's current expectations; political developments in any jurisdiction in which the Company operates being consistent with its current expectations; certain price assumptions for gold, copper and silver; prices for key supplies being approximately consistent with current levels; production and cost of sales forecasts meeting expectations; the accuracy of the Company's current mineral reserve and mineral resource estimates; and labour and materials costs increasing on a basis consistent with Orvana's current expectations.

A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to continue to operate the UMZ Mine and/or the EVBC Mine or develop the Copperwood Project; the Company's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; the Company's ability to obtain financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which the Company operates; general economic conditions worldwide; and the risks identified in the Annual Disclosures under the heading "Risks and Uncertainties". This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Annual Disclosures for a description of additional risk factors.

Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.

Contacts:
Orvana Minerals Corp.
Michael Winship
President and Chief Executive Officer
(416) 369-1629

Orvana Minerals Corp.
Daniella Dimitrov
Chief Financial Officer
(416) 369-1629

Orvana Minerals Corp.
Natalie Frame
Investor Relations
(289) 200-7640
ask_us@orvana.com
www.orvana.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.