VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2012) - CONFEDERATION MINERALS LTD. ("Confederation" or the "Company") (TSX VENTURE:CFM) is pleased to announce that Mr. Brian Bapty, Ph.D., has joined the Company as President and as a member of the Board of Directors. Mr. Bapty was most recently CEO of the Institutional Brokerage firm Northland Capital Partners (NCP) and a partner in Northland Bancorp, the private equity firm that owns a majority stake in NCP. He replaces Dr. Lawrence Dick, Ph.D., P.Geo., as president. Mr. Dick will remain on the board of directors and this change will free him up to provide more time to advising the Newman Todd project technical team.
Although Mr. Bapty will remain a partner and advisor to Northland Bancorp, he will be engaged full time to grow Confederation and further the development of its Newman Todd project. In addition to his experience in the investment and mining sectors, Mr. Bapty brings new energy and direction to the Company's investor communications efforts.
Prior to NCP, Mr. Bapty held positions as Director of Research at Galileo Global Equity Advisors, VP, and Institutional Sales for Raymond James and Associates, London, and an Equity Analyst for Raymond James Limited, Vancouver. Mr. Bapty's extensive experience in capital markets and working with institutional investors will be invaluable as Confederation continues to attract investor interest and build shareholder value with the development of the Newman Todd project.
"The unprecedented exploration success that that geologists Lawrence Dick, Ph.D., and Bob Singh, P.Geo., (Project Manager) have enjoyed over the last 12 months in advancing the key asset, the Newman Todd high grade gold property in Red Lake Ontario, has resulted in, what I believe, is one of the most promising gold exploration stories in Canada. I look forward to working with this geologic team to further advance both the project, and the Company, on the world stage," said Mr. Bapty.
Lawrence Dick stated, "We are very excited to have Brian join our team. His appointment comes at a crucial time in the Company's history. After having one of the most remarkable explorations seasons that I have every experienced in my career, Confederation has before it an opportunity rare among juniors, that is the development of what could be the next major Red Lake gold deposit. In addition to the capable direction provided by our technical team, going forward the Company must make every effort to fully inform the financial markets of our progress and the nature and extent of the opportunity that is the Newman Todd project. We are well funded and management is administratively and technically strong. The addition of a very experienced senior management and financial markets professional, like Brian, rounds out a team poised to capitalize on that opportunity."
The Company also reports that it has granted incentive stock options to purchase up to an aggregate of 400,000 shares of the Company to a director of the Company. The options are all exercisable at the price of $0.54 per share until March 16, 2017, subject to any earlier termination in accordance with their terms. The options are subject to the policies of the TSX Venture Exchange and the Company's Stock Option Plan.
About Confederation Minerals Ltd.
Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. holds an option agreement to acquire up to 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario as well as 100% ownership in two other properties in the Red Lake Mining District of Ontario.
On behalf of the Board of Confederation Minerals Ltd.
Lawrence A. Dick, Ph.D., P.Geo.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.