Valencia Ventures Appoints Stan Bharti Chairman, Patrick Reid Joins Board Of Directors.TORONTO -- VALENCIA VENTURES INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . ("Valencia") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:VVI VVI Vertical Velocity Indicator VVI Velocity Vector Imaging (trademark of Siemens AG) VVI Vermont Volunteer Infantry (Civil War) VVI VVimaging, Inc. ) today announced changes to its Board of Directors which reflect current feasibility and development activities of the Company, with the appointment of Mr Stan Bharti, P. Eng P. ENG Professional Engineer P. ENG process engineer . as Chairman and the addition of Mr. Patrick Reid to the Board of Directors. E[acute accent]Mr. Bharti is a Professional Engineer with over twenty-five years experience in the resources industry, managing and financing mining operations with international organizations, including Falconbridge Ltd. Until recently, Mr Bharti was President of Desert Sun Mining Corp (TSX:DSM 1. DSM - Data Structure Manager. An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output. ) where he oversaw development of the Jacobina Mine on the Bahia Gold Belt in northeastern Brazil, which commenced gold production in March. Mr. Bharti is currently Chairman of Desert Sun and Crowflight Minerals Ltd (TSX-V:CML 1. CML - A query language. ["Towards a Knowledge Description Language", A. Borgida et al, in On Knowledge Base Management Systems, J. Mylopoulos et al eds, Springer 1986]. 2. CML - Concurrent ML. ) and remains on the Board of Directors of several other resource companies. His engineering background and extensive experience in mine development and resource project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. are particularly relevant to Valencia's current activities relating to advancement of the Company's Mt Bundy Gold Deposit in Australia and the Buffalo Gulch Gold Deposit, in Idaho, USA. E[acute accent]Mr Lars Vannman, formerly Chairman of Valencia, will remain on the Board of Directors. E[acute accent]Joining the Board of Directors is Mr. Patrick Reid, past-President of the Ontario Mining Association (1984 - 2004) and former M.P.P. (Rainy River, 1967 - 1984). Mr. Reid has in excess of twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. experience associated with the mining industry and is Chairman of Probe Mines Limited (TSX-V:PRB PRB Pharmaceutical Resources Branch ) and a Director of Canstar Resources Inc (TSX-V:ROX). While President of the O.M.A. he was instrumental in establishing "Ontario Mining Week" to raise public, government and industry awareness of the contribution of the mining industry to the daily life of Ontarians and the prosperity of the Ontario economy. His experience will also contribute to the Company's strategic goal of becoming a precious metal producer. E[acute accent]The company has granted 100,000 options to Mr. Reid to purchase common shares at $0.30 per share, subject to regulatory approval. E[acute accent]Valencia Ventures Inc. (www.valenciaventures.com) is an emerging Canadian resource company listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. with a focus on the exploration and development of quality precious metal (gold/silver) opportunities worldwide. E[acute accent]Valencia has exploration and development properties in Australia, Chile and Idaho, USA. The Company recently announced a 22% increase in gold grade and a revised resource estimation for its Mt Bundy Gold Deposit in the Northern Territory of Australia where the company is currently completing a pre-feasibility study (See Press Release dated April 14, 2005). Valencia also recently announced acquisition of a 100% interest in the Idaho Gold Project, Idaho, USA, where gold resources are defined in three deposits and the Company is completing a Scoping Study to evaluate the potential for development of a heap leach gold project at the Buffalo Gulch Prospect (Indicated Mineral Resource 4.5million tonnes at a grade of 0.8g/t gold- See Press Release March 29, 2005). In Chile, Valencia has negotiated farm-in agreements on the Cachinal Silver-Gold Project and has recently completed a drill program (results pending). Valencia continues to review available exploration and development opportunities in Australia, Chile and elsewhere in North and South America. E[acute accent]Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". E[acute accent]The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. E[acute accent]Valencia Ventures Inc. (TSX VENTURE:VVI) |
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