SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCBB: ECPN) announced today that the Company has named mining industry veteran Mr. Keith Brogoitti as new Chief Operating Officer. With the execution of two new contracts in the past two weeks—contracts that encompass the mining, transportation and sale of high-quality iron ore from the El Capitan mine—the Company placed a high priority on the search for a knowledgeable and experienced COO.
Mr. Brogoitti beings nearly 30 years of experience in the mining sector to his new position with El Capitan. His experience includes exploration, operations, and development roles in uranium, gold, copper and base metals. The Company believes that installing a COO who is charged with the operations management of the mining activities in New Mexico and the recovery of precious metals from the tailings will support the Company’s strategic objective: the sale of the property.
Mr. Brogoitti’s most recent position was Vice President of Mexican Operations at Dynaresource, Inc., and his employment history includes Operations Manager of the Pachapaqui Mine in Peru and Mexican Country Manager for Virgin Metals. Inc. He has held management positions with several major mining companies—including Newmont Mining, Bema Gold, Ivanhoe Mines and Compania Minera Antamina—and has served as a Technical Consultant for Placer Dome, Noranda, Kennecott, Phelps Dodge, Asarco and BHP.
“The experience and expertise that Mr. Brogoitti brings to El Capitan could not come at a better time,” said John F. Stapleton, Chairman of the ECPN Board of Directors. “Recent developments have put us on a fast track toward our goals, and with Mr. Brogoitti as COO we have increased confidence in our ability to maximize and leverage opportunities that will lead to the sale of the El Capitan property,” he added.
In light of announcements over past few weeks related to the launch of mining operations and a new relationship with Logistica US Terminals, Mr. Brogoitti believes that the experience he brings to his new role as COO comes at a pivotal point for El Capitan. The depth of his experience in operations and his background in metallurgy affords him a unique perspective in executing his new role with El Capitan. He will also serve on the ECPN Board of Directors.
About El Capitan Precious Metals, Inc.:
El Capitan Precious Metals, Inc. is an exploration stage precious minerals company based in Scottsdale, Arizona that is principally engaged in the exploration of precious metals and other minerals. The Company’s primary asset is its wholly owned subsidiary El Capitan, Ltd., an Arizona corporation, which holds the 100% equity interest in the El Capitan property located near Capitan, New Mexico. www.elcapitanpmi.com
Forward-Looking Safe Harbor Statement:
The statements included in this press release concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.