Donner Appoints Vice President of Engineering
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/08/10 -- Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE: DON)(FRANKFURT: D4M), reports that Mr. Ron Tessier has been appointed Vice President of Engineering of Donner Metals. Mr. Tessier has forty years of experience in a broad range of activities related to research, feasibility studies, construction, commissioning, operation, and maintenance of numerous mining and treatment facilities throughout North America.
In particular, Mr. Tessier's recent experience in the Matagami Camp is a great asset for the Company. In 2006 he managed the positive feasibility study of the Perseverance Mine. In 2007, as Mine Manager, Mr. Tessier oversaw the construction of Xstrata's $160 Million Perseverance Project, which was completed on budget and 6 months ahead of schedule in mid-2008. Production from Perseverance is currently expected to be finished by the end of 2012, at which time the Donner - Xstrata Bracemac-McLeod deposit is scheduled to begin production. The Company has granted Mr. Tessier 400,000 options exercisable at $0.28 per share for a period of 2 years.
In addition, the Company is undertaking a non-brokered private placement in an amount of $1,150,000. The private placement will consist of 4,687,500 flow-through shares at a price of $0.32 per share.
Funds raised by way of the non-brokered private placement will be used for exploration of the Matagami Zinc/Copper Project, located in Quebec, which is subject to the Option and Joint Venture Agreement with Xstrata Canada Corporation - Xstrata Zinc Canada Division.
The private placement is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
David Patterson, Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Donner Metals Ltd.
Andrea Magee
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
www.donnermetals.com