Appointment of Non-Executive Chairman
July 08 2010 - 2:00AM
UK Regulatory
TIDMMML
MEDUSA MINING LIMITED
ABN: 60 099 377 849
Unit 7, 11 Preston Street
Como WA 6152
PO Box 860
Canning Bridge WA 6153
Telephone: 618-9367 0601
Facsimile: 618-9367 0602
Email: admin@medusamining.com.au
Internet: www.medusamining.com.au
ANNOUNCEMENT
8 July 2010
APPOINTMENT OF NON-EXECUTIVE CHAIRMAN
The Board of Medusa Mining Limited ('Medusa' or the 'Company') is pleased to
announce the appointment of Peter Rhys Jones as Non-Executive Chairman of the
Board with immediate effect. Mr Jones will become a member of Medusa's audit and
remuneration committees.
Mr Jones is a retired Canadian mining engineer with over 40 years of experience
in a variety of mining executive positions including operational, consulting and
project management. More recently in 2004, as chief executive officer of Hudson
Bay Mining and Smelting Co., Limited ("HBMS"), a wholly owned subsidiary of
Anglo American plc, Peter was instrumental in the purchase of HBMS by HudBay
Minerals Inc. ("HudBay").
Mr Jones is a former Chairman of the Mining Association of Canada and in 2006
was named Canadian Prairie Region Entrepreneur of the Year by Ernst & Young LLP.
He has been actively involved with the Canadian Mining Association in
investigating and understanding worldwide issues facing mining companies and is
a proponent of good corporate governance practice.
Managing Director, Geoffrey Davis, commented:
"The Company is very fortunate to be able to attract a person of Peter's calibre
to assume the role of Non-Executive Chairman and we welcome him to the Board.
His appointment will greatly enhance the Company's presence in the Canadian
market.
Peter's technical expertise, particularly in underground mining and management,
and experience of being actively involved in the corporate governance of public
companies will prove beneficial and will complement the views of the current
Board members.
Medusa's prospects are considerable and we look forward to Peter's valuable
contribution as the Company embarks towards further expansion and growth."
Mr Peter Hepburn-Brown who served as Acting Chairman prior to the appointment of
Mr Jones, will now revert to his previous position of Non-Executive Director.
The directorships held by Mr Peter Rhys Jones (aged 62) now and over the five
years preceding the date of appointment are as follows:
Current:
None (save for Medusa Mining Limited)
Previous:
HudBay Minerals Inc. (December 2004 to January 2008 and March 2009 to June 2010)
Adanac Molybdenum Corporation
Mr Jones does not hold any shares in Medusa Mining Limited.
Adanac Molybdenum Corporation, an exploration and development company, entered
voluntary Companies Creditors Arrangement Act protection in December 2008. On
29 June 2010, Adanac Molybdenum Corporation advised it had entered into a term
sheet with substantially all its senior secured note holders to form the basis
of a plan of compromise or arrangement. Creditor voting and Court approval are
pending. Mr Jones was chairman and chief executive officer of Adanac Molybdenum
Corporation from August 2008 to March 2009.
For further information please contact:
Australia
Medusa Mining Limited +61 8 9367 0601
Geoffrey Davis, Managing Director
Roy Daniel, Finance Director
United Kingdom
Fairfax I.S. PLC +44 (0)20 7598 5368
Nominated Adviser/Joint Broker
Ewan Leggat / Laura Littley
Lothbury Financial Services +44 (0)20 7868 2010
Michael Padley/Libby Moss
Canada
Nicholas Sayce, Investor Relations +1 416 822 4404
[HUG#1430216]
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Source: Medusa Mining Ltd via Thomson Reuters ONE
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