Kola Mining Announces Changes to Board
November 20 2008 - 6:23PM
Marketwired
Kola Mining Corporation (TSX VENTURE: KM)(OTCBB: KMNFF)(FRANKFURT:
C8M) is pleased to announce that, at the Company's annual general
meeting held today, Mssrs. Mikhail Yuryev and Sergey Makarov have
been elected to the Board of Directors of Kola along with Mssrs.
Cary Pinkowski, Nick DeMare and Grigory Aleksenko who are returning
directors of the Company.
Mr. Yuryev was the Deputy Speaker of the Duma for the Russian
Federation from 1996-1999. He is currently the Chief Executive
Officer of Cvetmetholding Ltd., an investment company specialized
in mining projects in Russia and the Commonwealth of Independent
States. During the last several years he held the position of the
Chairman of the board of directors of the Joint Stock Company
Eurofinance Group, an investment company with a diversified
portfolio of projects from various industries. Before that Mr.
Yuryev was the Chairman of the Board of the Investment and
Industrial Group Eurasia, an investment company with projects in
the construction, energy and finance sectors. In addition, Mr.
Yuryev has about 10 years of experience dealing with Russian
mining, oil and gas companies.
Dr. Sergey Makarov is the General Director and co-founder of the
Closed Joint Stock Company NPO Gimein, a company that promotes
geological projects in Russia. Dr. Makarov has more than 20 years
of experience in environmental monitoring and environmental
protection in different regions of Russia, including the Kola
Peninsula. He also has wide experience as an entrepreneur developer
of mining projects in Russia. He is a graduate of Moscow State
University (1977) and holds a Ph.D. in Geography (1986). Dr.
Makarov's experience includes being the head of the Research
Division in the Central Institute (Research Center) of the Russian
Federal Agency of Hydrometeorology and Environmental
Protection.
Concurrently with these appointments, Messrs. Douglas Turnbull,
Oleg Kim, Brian McEwen and Igor Kovarsky did not stand for
re-election to the Board of Directors of Kola. Mr. Kovarsky remains
the President and Chief Executive Officer, Mr. DeMare remains the
Chief Financial Officer and Mr. Kim remains the Vice President of
Operations of the Company. Management wishes to thank Mssrs.
Turnbull and McEwen for their important contributions to the
Company. Mr. Yuryev was appointed as Chairman of the Board.
"We are pleased to advance our organization with the
appointments of such professionals as Mr. Yuryev and Dr. Makarov.
This step is one further in our commitment to develop mining
projects in the Kola Peninsula and elsewhere in Russia," stated
Director, Cary Pinkowski.
The appointment of new directors of a listed company is subject
to the review of the TSX Venture Exchange.
About Kola Mining Corp.
Kola Mining Corporation is a Vancouver, Canada based mineral
exploration Company, with its head office in Vancouver, Canada, and
exploration offices in Apatity, Russia, Bishkek, Kyrgyzstan and
Almaty, Kazakhstan. The Company is engaged in the identification,
acquisition, exploration and development of precious and base
mineral properties in Russia, Eastern Europe and Central Asia. To
find out more about Kola Mining Corp., please visit the company
website at www.kolamining.com.
On behalf of the Board of Directors of KOLA MINING CORP.
Igor Kovarsky, President & CEO
Certain information in this release may contain forward-looking
statements. This information is based on current expectations that
are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from
results suggested in any forward-looking statements. The Company
assumes no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
reflected in the forward-looking statements unless and until
required by securities laws applicable to the Company. Additional
information identifying risks and uncertainties is contained in
filings by the Company with the Canadian securities regulators,
which filings are available at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or the accuracy of this release.
Contacts: Kola Mining Corp. (604) 688-4110 Website:
www.kolamining.com