Sabina Silver appoints Brantley as president, CEO
2007-08-09 10:09 ET - News Release
Mr. William Cummins reports
SABINA SILVER CORPORATION: APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER AND PRESIDENT
Sabina Silver Corp. has appointed Albert Brantley to the position of the president and chief executive officer and a director of the company, effective Aug. 8, 2007. Mr. Brantley will be responsible for leading the development of Sabina's silver-zinc Hackett River project through feasibility to production as well as exploration projects in the Red Lake district and the Eskay Creek area.
"Sabina Silver has reached the stage in the development of its Hackett River project in the Canadian Arctic, where Mr. Brantley's experience in large project developments such as Hackett River will be invaluable to further the company's progression," commented William Cummins, co-chair of Sabina Silver.
"As we move through the various stages of development for Sabina we are most pleased to have Mr. Brantley join us. He brings a wealth of project development experience in the mining, heavy industrial and engineering sectors and, most recently from his success at Oceana Gold, building new mines," commented Mr. Cummins.
Before joining Sabina Silver Mr. Brantley was chief operating officer and chief development officer for Oceana Gold and led development of new mines in New Zealand and advanced stage developments in the Philippines. His previous experience includes development, construction and commissioning of multibillion-dollar heavy industrial facilities in the Middle East as well as senior positions with major gold and copper producers in South America, Argentina and Australia. A Canadian citizen, Mr. Brantley will be located in Vancouver, B.C.
Mr. Brantley will replace Abraham Drost as president. Mr. Drost, while stepping down as president, will continue to serve as a director. Mr. Drost was instrumental in guiding the company's exploration and development activities at its Hackett River project and communicating the outcome of those activities to the investment community. The results at Hackett River project and Mr. Drost's efforts to bring the company's story to institutional and retail investors as well as mining industry participants were, together, a major factor in the company being in the financial position to pursue the development of the Hackett River project to feasibility.
Mr. Brantley will replace Mr. Cummins as chief executive officer. Mr. Cummins will remain a director and co-chair of the board of directors.
The company has granted 1.74 million stock options exercisable at the price of $2.35 per share for a period of five years.