Endeavour appoints two new independent non-executive directors
GEORGE TOWN, Grand Cayman, United Kingdom, Oct. 3, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Endeavour Mining Corporation (TSX:EDV)(OTCQX:EDVMF) is pleased to announce the appointment of Livia Mahler and Olivier Colom as independent non-executive directors, effective October 1, 2016.
Michael Beckett, Chairman of the Board of Directors, commented: "We are delighted to be able to welcome Livia and Olivier as independent non-executive directors. They will bring invaluable experience in corporate governance, finance, African diplomatic relations and international affairs that will greatly assist our Board, and I look forward to working with them."
Ms Mahler has significant experience in corporate governance having sat on a number of Audit and Compensation committees. Ms. Mahler is currently an independent director and Chair of the Compensation Committee and member of the Audit Committee at Ivanhoe Mines (TSX:IVN) and is President and Chief Executive Officer of Computational Geosciences Inc. Computational Geosciences provides geophysical data processing services to the mining and oil & gas industries. Ms. Mahler previously served on the Audit and Compensation committees of Diversified Royalty Corp., Turquoise Hill Resources Ltd. and DuSolo Fertilizers Inc. Ms. Mahler's background also includes 20 years of venture capital experience where she invested in technology companies and was widely recognized for her strategic insights into the Canadian venture industry. Ms. Mahler received a Bachelor of Science degree from the Hebrew University of Jerusalem and an MBA from the University of British Columbia.
Mr Colom is a former French diplomat and diplomatic adviser to President Nicolas Sarkozy, with extensive experience of African affairs. At the French Foreign Office, he helped to reform France's development aid programme before specialising in European Union affairs, notably economic, financial, budgetary and agricultural affairs. After serving as a diplomat in Oslo and London, where he was seconded to the office of UK Prime Minister Tony Blair in 2005-2006, he joined the French President's staff at the Elysée Palace in 2007. In his role as diplomatic advisor and deputy "Sherpa" to President Nicolas Sarkozy, he was responsible for international economic matters, climate change negotiations, development aid and global governance reform, as well as preparations for international summits including the G20, G8, United Nations and French-speaking nations. From 2013 to 2016, he was a member of the Edmond de Rothschild Group's Executive Committee, holding first the position of international adviser and then of Secretary General. Olivier Colom is currently the chairman of OC Advisory. He is a graduate of the National School of Administration and the Institute of Political Studies in Paris, and holds a degree in General Public Law (Sorbonne) and a master degree in International Law from Paris X University.
Endeavour's Board will now be composed of eight members, including Chairman Michael E. Beckett, Ian Cockerill, Ian Henderson, Livia Mahler, Wayne McManus, Olivier Colom and Naguib Sawiris as Non-executive Directors, and Sébastien de Montessus as Executive Director and CEO.
About Endeavour Mining Corporation
Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction track record.
Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines in Côte d'Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2016, it expects to produce between 575koz and 610koz at an AISC of US$870 to US$920/oz. Endeavour is currently building its Houndé project in Burkina Faso, which is expected to commence production in Q4-2017 and to become its flagship low-cost mine with an average annual production of 190koz at an AISC of US$709/oz over an initial 10-year mine life based on reserves. The development of the Houndé project is expected to lift Endeavour's group production +900kozpa and decrease its average AISC to circa $800/oz by 2018, while exploration aims to extend all mine lives to +10 years.
| Martino De Ciccio |
VP - Strategy & Investor Relations
+33 (0)1 70 38 36 95
| DFH Public Affairs in Toronto |
(416) 206-0118 x.224
Brunswick Group LLP in London
Carole Cable, Partner
+44 7974 982 458
Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins, Monaco 98000
This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
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