RENO, Nev., Oct. 1, 2012 /PRNewswire/ -- Discovery Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC Pinksheets: DSCR) is pleased to announce the Board has approved the selection of former White House appointee, Mr. Henry Manayan, Esq., as Chief Operating Officer for the company. Mr. Manayan was appointed to a White House Advisory Group on Asian-Pacific Affairs by U.S. President Bill Clinton. Mr. Manayan served three terms as the Mayor of the City of Milpitas, in "Silicon Valley", California, and was the first Asian-American ever elected to the position.
Mr. Manayan is the President of The Transpacific Companies, LLC, a finance and investment company based in Silicon Valley, California. He was educated at Syracuse University, Oxford University (Great Britain), Yale-in-China College, Golden Gate University Graduate College of Banking and Finance, and received his Juris Doctor from the University of Santa Clara School of Law. He also completed post-graduate work at the London Business School and Harvard University.
Mr. Manayan was also a co-founder of ViaGold Capital, a private equity and venture fund holding company, which went public on the Australian Stock Exchange. He was involved in the merger and acquisition of Culturecom Holdings, Ltd., which is listed on the Hong Kong Stock Exchange. While at Culturecom Holdings, his focus was in mergers and acquisitions. He served as Chairman, CEO, Board Director or executive officer to numerous portfolio companies including Terra Solar Global, which was recently sold. He also has been an officer, director or legal counsel to numerous companies and organizations in four countries.
"We are gratified that a man of Mr. Manayan's stature and character has chosen to join Discovery Minerals. On behalf of the Board of Directors and shareholders, welcome to the team!" stated Michael Silver, Chairman of Discovery Minerals. "Mr. Manayan will have ample opportunity to exercise his multiple skills in the pursuit of Discovery Mineral's goals."
Discovery Minerals has a total of $450,000 committed costs to assess and develop the property known as the Turquoise Mountain Project. Based on extensive data acquired from previous owners' exploration operations during the 1950s and '60s, the Company intends to re-evaluate the promising results obtained then, in light of today's higher metals prices and newer production technologies now available. Comparisons with nearby mineral occurrences & properties would put the value of the leases in excess of $5,000,000. The Turquoise Mountain Project will require additional funding before it can begin generating revenues.
Discovery Minerals is a U.S.-based metals exploration and development company focused on projects in the Western United States and California. The Company is led by an experienced board of directors and management team with extensive corporate, exploration, mine development and production operation records in the US, Australia and Asia.
About Discovery Minerals Ltd.:
Discovery Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC Pinksheets: DSCR) is a production stage company formed to acquire and develop natural resource properties. Activities include gold, precious metals and minerals, including rare earth minerals production and sales. The Company has initiated a new program to evaluate undervalued assets, including clean-tech and alternative energy investments, for potential addition to its portfolio.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Company Contact Information
Mr. Russell Smith, Chief Executive Officer
Discovery Minerals, Ltd.
4337 Marina City Drive, Suite 337
Marina Del Rey, California 90292
SOURCE Discovery Minerals Ltd.