MONTREAL, QUEBEC, Feb. 23, 2010 (Marketwire) -- The Board of Directors of MDN (TSX:MDN) is pleased to announce the appointment of Mr. Serge Bureau as President, CEO and director. Mr. Bureau's main corporate objectives will be to increase the visibility of the company, grow its gold assets by acquisitions and positive exploration results and supervise the feasibility study of the niobium and tantalum project.
Mr. Bureau holds a geological engineer degree and a Master of Science degree in Geology from the University of Quebec in Chicoutimi. He has worked in the mining industry for 30 years including 25 years in gold mining operations.
From 1994 to 2008, Mr. Bureau held managerial positions at Barrick Gold Corporation in North America, South America and Russia. In North America, Mr. Bureau, as Manager Mining Engineering and Geology, was responsible for the long term mine planning of the underground operations.
In Peru, he was directly involved in the development, feasibility and construction of the Las Larguas Norte mine, which produced over 800,000 ounces of gold annually. In the Dominican Republic, Mr. Bureau was a key member of the feasibility study team of the Pueblo Viejo project, one of the most important gold projects under development in the world.
Mr. Bureau started his career in Quebec with Soquem and later worked with Lac Mineral Ltd. Amongst other achievements, he was involved in the development of the Bousquet 1, Bousquet 2 and Doyon mines. In May 2008, Mr. Bureau co-founded Mineraux Crevier Inc. and, as its President, led the marketing, financing and managerial strategies of the Company. Mr. Bureau is a member of the Ordre des Ingenieurs du Quebec (OIQ).
Mr. Serge Savard, Chairman of the Board, stated: "We feel very fortunate to benefit from the leadership, entrepreneurship and vast experience of Mr. Bureau. This nomination should ensure the appropriate positioning of MDN in the mining industry and in capital markets."
MDN at PDAC
MDN Management will display at PDAC's Coreshack with its niobium and tantalum core and maps on Tuesday March 9 and Wednesday March 10 at booth #5005 B. The team will also be available for meetings at booth 2614B during the same two days.
MDN Inc.(TSX:MDN) is a mining exploration and development company with adequate financial resources to develop its promising projects in Quebec and in Tanzania. MDN also remains active in the search for new business opportunities that can raise shareholder value. In addition to its 30% participation in the Tulawaka Gold Mine, MDN is the operator and owner of a majority interest in mineral licenses totalling 621 sq. kms. around the Tulawaka gold mine in Tanzania. The company also owns a 67.5% interest in Mineraux Crevier, which owns a property with an NI 43-101 niobium and tantalum resource located in the Lac St-Jean area of Quebec. MDN has an option to increase its equity participation in Mineraux Crevier up to 87.5%. Additional information is available on MDN's website at www.mdn-mines.com.
Forward looking statements
All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements are discussed in greater detail in the Company's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the factors mentioned in the Annual Information Form as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.