Ariel Resources - surface mining begins at San Martin.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 28, 1997-- Ariel Resources Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). AU., OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. ARLRF.) (TSE-AU; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Bulletin Board- ARLRF) -- Ariel Resources Ltd. is pleased to announce that it has started open pit mining operations at the San Martin mine in Costa Rica at its fully permitted Fortuna open pit. These operations are the first surface mining operations to take place in Costa Rica since the publication of new environmental requirements for mining several years ago. Preparatory work for these activities has been in the planning and engineering phases for a number of years and is expected to result in significantly reduced costs over the next few years. Eventually, open pit gold production should overtake and surpass gold production from underground mining. Financing for this expansion is being arranged by Griffin Capital Management Inc. FORTIFIED fortified (fôrt adj containing additives more potent than the principal ingredient. MANAGEMENT TEAM JOHN TRIMBLE has joined Ariel as General Manager for Costa Rica operations, having previously served as General Manager, South Dakota Operations for Dakota Mining Corporation where he brought the Anchor Hill open pit gold mine into full production and helped obtain the first large scale mining permit ever unanimously approved by the South Dakota Board of Minerals. He was also responsible for maintaining complete environmental and MSHA MSHA Mine Safety and Health Administration (US government) MSHA Master of Science in Health Administration MSHA Mine Safety and Health Administration MSHA Maison des Sciences de l'Homme d'Aquitaine (French) compliance. He previously managed three significant open pit mines during his 21 year career in the mining industry. EDUARDO BRINGAS, a Peruvian Mining engineer with 17 years experience in large Latin American mining operations, has been appointed Superintendent for Costa Rica underground and open pit mining operations. UVER CLEMENTE, a Peruvian Mining engineer with 15 years experience in large open pit mining operations in Latin America, has been named Assistant Superintendent for open pit mining. JANET L. EMPEY has been promoted to Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Ariel effective immediately. In this position, she will be responsible for all of Ariel's production operations. She previously served as Executive Vice President of El Valiente Ascari, S.A., responsible for all production and administration in Costa Rica. She is a Canadian from South Porcupine, Ontario South Porcupine is a community located within the city of Timmins, Ontario. The community itself was founded in 1907 as an independent townsite for mining prospectors. It was subsequently merged with into the Township of Tisdale. . ELLEN ZINDLER has been named Director of Administration for Costa Rica. Ms. Zindler has 20 years experience managing a legal practice in New York along with extensive experience in contracts, negotiations and government relations. The Company is making the above promotions and additions to staff in order to enhance our ability to achieve our objective of rapidly increasing gold production. On behalf of the Board of Directors, William C. Bennett, President CONTACT: Ariel Resources Ltd. Art Charpentier, 604/682-2201 1-800-665-7175 http://www.ariel-au.com |
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