Argentex Mining appoints Patrick Downey to Board of Directors
Argentex Mining Corporation announce the appointment of Mr. Patrick Downey, P.Eng., an accomplished mining industry executive, to the company’s Board of Directors. Mr. Downey has been a highly regarded advisor to Argentex since December 2007, when he was appointed to the company’s formal advisory board.
With over 25 years of international experience in the resource industry, Mr. Downey is currently President and Chief Executive Officer of Aura Minerals (TSX: ORA). Aura Minerals is a TSX-listed company that is exploring, developing and operating properties in the Americas, including the producing copper-gold-silver Aranzazu mine in Mexico. The company’s focus at its Aranzazu project is on staged expansion to deliver production growth, while conducting a significant exploration program to increase the confidence level of the current resource classification and to expand the large resource base. In addition, Aura Minerals is advancing its feasibility-stage Serrote da Laje copper-gold-iron ore project in Brazil. Previously, Mr. Downey was President and CEO of Viceroy Exploration Ltd., where he successfully developed the Gualcamayo project in Argentina prior to the company’s acquisition by Yamana Gold (TSX: YRI – News) for $600 million. Mr. Downey’s background also includes work as President of Oliver Gold Corporation, where he negotiated the successful merger to form Canico Resources, subsequently purchased by Brazilian mining giant CVRD for $800 million. In addition, he has held senior engineering positions at several large-scale gold mining operations, and has also held operating and engineering positions at a number of mining projects for Anglo American Corporation in South Africa.
“Mr. Downey is a respected mining industry professional with a proven track record of mine discovery and development,” said Ken Hicks, President of Argentex. “His pioneering work in developing Argentina’s Gualcamayo project has long been a source of inspiration to us, and we have greatly benefitted from his advice and support as a member of Argentex’s advisory board. We look forward to working with him closely in his new role as we move towards feasibility.”
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. It owns 100% of the mineral rights to the Pinguino property and 100% mineral rights to more than 30 other mineral properties with over 377,490 acres (152,766 hectares) in the Santa Cruz and Rio Negro provinces of Argentina. In addition, Argentex continues to look for new opportunities in Patagonia. Shares of Argentex common stock trade under the symbol AGXM on the OTCBB and on the TSX Venture Exchange under the symbol ATX.