VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2007) - GREAT PANTHER RESOURCES LIMITED (TSX:GPR) is pleased to announce the appointment of Mr. Charles Brown to the position of Chief Operating Officer of the Company.
Mr. Brown is a proven leader and seasoned professional with more than 30 years experience successfully operating and developing mines in Canada and internationally. Having graduated from Nottingham University, U.K. with an honours degree in Mining Engineering, his experience ranges from operating small gold mines in Ontario and Venezuela to being Managing Director of Tara Mines Ltd. in Ireland, where he was responsible for one of the world's largest underground zinc mines. Most recently, he was the Project Manager for Newgold Inc. during its underground exploration and development program at the Afton Mine in British Columbia, leading to the completion of a positive feasibility study. Charlie has a track record of increasing productivity, reducing unit costs, improving safety and turning unprofitable operations into profitable ones.
"With production increasing at both our Topia and Guanajuato Mines, we are focusing on improving efficiencies to better reflect the outstanding potential of these two operations, and we believe that Charlie will be instrumental in achieving our goals. We are extremely pleased to have Charlie join Great Panther, particularly in the current competitive environment for qualified mining engineers," said Bob Archer, the Company's President & CEO.
The Company has granted stock options to two senior officers, including Mr. Brown, and to three employees to purchase an aggregate of up to 550,000 shares. Rather than exploit the share price in the current volatile market, the options are exercisable at $2.00 per share for a period of five years.
ON BEHALF OF THE BOARD
Robert A. Archer, President & CEO
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parametres as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended December 31, 2006 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
SEC 20-F Statement Filed; Standard & Poor's Listed
FOR FURTHER INFORMATION PLEASE CONTACT:
Great Panther Resources Limited
Great Panther Resources Limited
(604) 899-4303 (FAX)