TORONTO, May 31 /CNW/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT;
OTCBB: NWTMF) today announced that Marek Kreczmer, M.Sc. (Geo), P.Eng., has
assumed the role of Chief Executive Officer of the company, subject to
TSX Venture Exchange approval. Mr. Kreczmer, who was named President of
Northwestern in October 2005, is an accomplished mining professional with
extensive experience in uranium exploration and development. He succeeds
founding CEO Kabir Ahmed, who remains with the company in an executive
capacity as Chairman of the Board of Directors. Northwestern has also
restructured its Board with the addition of three respected geologists to
reflect the company's focus on strengthening its position as an active uranium
explorer.
"As Northwestern concentrates on the development of our highly
prospective uranium portfolio, we will benefit from Mr. Kreczmer's direction
and technical expertise, as well as the depth of knowledge that the new
directors will bring," said Kabir Ahmed, Chairman of Northwestern. "Our team's
considerable African mining and development experience and extensive network
of regional mining contacts will assist Northwestern increase its independence
from other uranium exploration firms operating in the Republic of Niger."
Mr. Kreczmer is a 30-year veteran of the mining industry and has worked
for major and emerging companies focused on uranium, base and precious metals,
including uranium producer Cameco Corp. He also has extensive experience in
corporate governance and administration through his work as a current and
former director of several publicly listed mining companies.
Founding CEO Kabir Ahmed will continue as an active and valued member of
Northwestern's executive management team as Chairman of the Board and will
provide the company with legal, regulatory and corporate guidance. Mr. Ahmed
served as CEO of Northwestern from its incorporation in September 2003, and
under his leadership, Northwestern successfully secured its current property
portfolio and recently completed a financing of approximately C$18 million.
"We would like to thank Mr. Ahmed for his tireless efforts in helping to
build a strong, well-financed publicly traded company," said Mr. Kreczmer. "We
look forward to his continuing contributions as we advance Northwestern to its
next phase of growth."
BOARD RESTRUCTURING
Concurrent with the appointment of Marek Kreczmer as CEO, and subject to
regulatory approval, Northwestern has appointed three respected geologists to
its Board of Directors:
- Anton Esterhuizen, M.Sc., B.Sc. (Hons), is an experienced geologist
renowned for his extensive experience in Africa. Among his career
highlights, he is credited with the discovery and evaluation of the
Xstrata Group's world-class, high-grade Rhovan vanadium deposit in
South Africa, the re-evaluation of the sizeable Burnstone gold
deposit, also in South Africa, and a number of Tanzanian gold
deposits, which attracted major mining companies to that country.
- Simon Lawrence, MBA, B.Eng. (Hons), is an industry veteran whose
background includes work with numerous publicly listed exploration
companies across Africa and Europe, including Anglo American
Corporation, South Africa (NASDAQ: AAUK), and most recently as Vice
President of Corporate Development for Gabriel Resources Ltd.
(TSX: GBU), for which he raised a total of C$200 million over five
years. Mr. Lawrence also worked as a mining analyst for HSBC James
Capel (now HSBC Securities) from 1995 to 1997.
- Currently the President of Vault Minerals Inc., Joseph D. Horne has
worked in the mining industry for more than 20 years, spanning
exploration and project development in both underground and open-pit
production environments.
Northwestern would like to thank Wayne Beach, Jon North and J. Scott
Waldie for their significant contributions to the growth and development of
the company and for their dedicated service as they retire from the
Northwestern Board of Directors.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an
international natural resource exploration company with an experienced
management team. The company is focused on properties in Niger, the United
States and Canada with potential uranium targets. Northwestern also has a
precious and base metal property in Mexico. Northwestern is listed on the NASD
Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the
symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company
are forward looking statements that involve various degrees of risk. The
following are important factors that could cause the Company's actual results
to differ materially from those expressed or implied by such forward looking
statements: changes in the worldwide price of mineral commodities, general
market conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the uncertainty of
future profitability and the uncertainty of access to additional capital.
