VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2015) - Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX VENTURE:LA) is pleased to announce that Antony Amberg has been appointed President and CEO of the Company, effective immediately. Mr. Amberg replaces Eduardo Covarrubias who will remain a director and a consultant to the Company.
Mr. Amberg is a geologist who is a graduate of the Royal School of Mines, London, has an MSc. from University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere. In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in project evaluation and NI 43-101 technical reports. Mr. Amberg's clients included Rio Tinto, Barrick, Codelco, Anglo American, Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist.
Mr. Amberg is a Qualified Person under NI 43-101.
The Company is also pleased to announce the appointment of Mr. Juan Benabarre as Head of Hydro Electric Project Development. Mr. Benabarre is a mechanical engineer who graduated from the University of Chile and also holds an MBA from the Adolfo Ibañez University. He has almost 40 years of experience in engineering, development, construction and operation of power generation and transmission projects in Chile and other countries in Latin America. Mr. Benabarre worked for over 35 years at the Endesa Group, one of the largest power generation, transmission and distribution conglomerates in Latin America. During his initial 20 years at Endesa, he was involved in the development, construction and commissioning of power generation projects with an aggregate capacity of over 1,100 MW of installed capacity. Subsequently he became General Manager and then Chairman of the Board of Ingendesa, Endesa's engineering and development subsidiary. During the last 8 years at Endesa, Mr. Benabarre was Head of Operations and Maintenance for all of Endesa's assets in Latin America (approx. 15,000 MW), and the Regional Head for Engineering and Development for Endesa in Latin America.
The Company also announces that the board of directors has approved the issuance of a total of 175,000 options to officers of the Company pursuant to the Company's stock option plan. The options are exercisable at a price of $0.50 and expire in five years. After the above mentioned option grant, there are a total of 20,998,981 common shares reserved for issuance, of which a total of 675,000 shares are subject to outstanding option grants.
Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described in Management's Discussion and Analysis in the Company's financial statements.
Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
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