VANCOUVER, BRITISH COLUMBIA, Nov 06 (MARKET WIRE) --
Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") (TSX:
PTQ)(OTCBB: PTQMF)(FRANKFURT: P7Z) is pleased to announce that Mr. Joao
Manuel has been appointed as the Company's President and Chief Executive
Officer. Mr. Manuel joined the Company in December 2008 as its Chief
Operating Officer after serving as the Chief Financial Officer of
Petaquilla Copper Ltd. He will be leading the Company into its future
production development phases and the continued exploration of the
Petaquilla mining district where it owns a 100% interest in several large
mineral concessions adjacent to the Molejon gold mine site. Additionally
he will focus on the creation of shareholder value through the spin-off
of the Company's fully owned subsidiary, Petaquilla Infrastructure Ltd.,
which was incorporated for the construction, operation and management of
infrastructure facilities required for the development of the mining
industry in Panama.
The Company is also pleased to announce that Mr. Richard Fifer, who has
been involved with the Company's interests in Panama since 1992, will
serve as non-executive Chairman of the Board of Directors
The Board of Directors (see attachment) is looking forward to working
with Mr. Manuel and Mr. Fifer in their new capacities.
In addition to the management changes above, the Company announces that
it finalized a US$5,000,000 financing facility to strengthen its capital
position as it advances the Molejon gold project to the commercial
production stage. In this regard, the Company will shortly be providing a
year-to-date report on gold production and an update on moving the mine
into full commissioning.
About Petaquilla Minerals Ltd. - Petaquilla Minerals Ltd. is an emerging
gold producer commissioning the operation of its gold processing plant at
its 100% owned Molejon Gold Project. Anticipated throughput for the
project during the first year of commercial production is estimated to be
2200 tonnes per day. The plant utilizes three ball mills and a
carbon-in-pulp processing facility.
On behalf of the Board of Directors of
PETAQUILLA MINERALS LTD.
Richard Fifer, Chairman
ATTACHMENT
Daniel Small, David Levy, David Kaplan and Raul Ferrer have joined
Richard Fifer as new directors of the Company.
Daniel Small is a Managing Director at the investment advising firm of
Platinum Management (NY) LLC ("Platinum"), where he leads the firm's
private placement group. Prior to joining Platinum, Mr. Small was a
Senior Analyst, who served on the investment committee at Glenview
Capital Management, a $7 billion hedge fund. He is a former Director of
the Strategic Risk Group at Merrill Lynch responsible for a $1 billion
multi-strategy proprietary investing platform. As a former Director in
the Mergers & Acquisitions Department at SG Cowen Securities, he advised
corporations in the financing and restructuring of public and private
corporations. Mr. Small is a graduate of the Wharton School of the
University of Pennsylvania and earned a doctorate in law from the
University of Pennsylvania Law School.
David Levy is a member of the private placement group at Platinum and has
participated in over 25 capital raising transactions for public and
private corporations. He specializes in structuring and negotiating
financings at all levels of the capital structure through extensive
industry research, financial analysis and modeling. Mr. Levy graduated
with honors from Sy Syms School of Business of Yeshiva University.
David Kaplan is a key member of LIM Advisors LLC, a multi-strategy
investment group. He manages a portfolio of metal and energy futures and
securities for a commodity hedge fund. He is a former Vice-President of
Gerald Metals Inc., financial analyst with Glencore Ltd., and graduate of
the Wharton School of the University of Pennsylvania
Raul Ferrer is a leading financial advisor to a number of businesses
operating in Panama, the second largest financial offshore center in the
world. He is a former financial investments director with the Panamanian
equity investment firm, Wall Street Securities.
The Company's new Board of Directors reflects the strong financial
profile of its members and is aligned with Petaquilla's strategic goal to
pursue a leadership role in the development of gold and copper
opportunities in the emerging Panamanian mining industry.
Contacts:
Petaquilla Minerals Ltd.
Richard Fifer
Chairman
(604) 694-0021 or Toll-free: 1 (877) 694-0021
(604) 694-0063 (FAX)
www.petaquilla.com
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