October 23, 2012
Capstone Mining Corp. ("Capstone") (TSX: CS) today announced that Korea Resources Corporation's ("KORES") representative on Capstone's board of directors has changed. Pursuant to formation of the strategic partnership for the development of the
project and Shareholders Agreement for the project between Capstone and KORES dated
June 17, 2011
, KORES is entitled to appoint one representative to Capstone's board.
KORES has nominated GookHo (
, MBA, as its new representative. Mr. Lee joined the Capstone board effective
October 23, 2012
. He has been with KORES since 2011, and is based in the
office where he holds the position of KORES' Executive Advisor. Prior to joining KORES he spent over 30 years at LS-Nikko Copper Inc., LG-Nikko Copper Inc. and LG Metal Co, Ltd., in Marketing and Raw Materials Procurement. His experience in senior level positions includes Senior Executive Vice President, Overseas Business Development Division, Raw Materials Procurement Division at LS-Nikko Copper Inc. Mr. Lee has a B.A. in Economics from Daegu University and a MBA from
, both in
, and has completed an advanced management program at Wharton Business School in
Mr. Lee replaces Dr. Wook
as KORES' board representative, who has resigned from Capstone's board effective
, 2012. KORES has 30% ownership of the
project and owns approximately 10.5% of Capstone's outstanding shares.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company with two producing copper mines, the Cozamin copper-silver-zinc-lead mine located in Zacatecas State,
copper-gold-silver mine in
. In addition, Capstone has two development projects, the large scale 70% owned
copper-iron-gold project in
in partnership with Korea Resources Corporation and the 100% owned Kutcho copper-zinc-gold-silver project in
, as well as exploration at properties in
. Using its cash flow and strong balance sheet as a springboard, Capstone aims to grow organically through continued mineral resource and reserve expansions and through acquisitions in politically stable, mining-friendly regions. Additional information is available at