VANCOUVER, Aug. 25, 2011 – Further to its press release of July 14th, 2011, Pan American Goldfields Ltd. (OTCQB:MXOM) (the “Company”) is pleased to announce the appointment of Hernan Celorrio as advisor to the Board of Directors and as a director of Recursos Argentinos SA, the company’s newly formed subsidiary in Argentina.
Mr. Celorrio, a lawyer, is an expert in Argentinean mining law and has an extensive background in the industry. He is currently the Vice President of the Argentine-Chilean Chamber of Commerce and a Director of the Executive Committee and President of the Mining Committee of the Argentine Canadian Chamber of Commerce. He is also the President of the Argentine Mining Foundation (FUNDAMIN).
Most prominently he was the president of Barrick Exploraciones Argentina S.A. from 1999-2006. During his term, the Veladero Gold Mine, Argentina’s largest gold mine, was built and placed into production. He was also a Vice President of Minera Peñoles in Argentina, in addition to sitting on the board of Directors of Northern Orion Resources and Yamana Resources (Compañia Minera Polimet S.A.) in Argentina. He was the Vice President of the Argentine Chamber of Mining Companies (CAEM) (1999-2005) and a Senior Partner of Brons & Salas Law Firm (specialized in Mining) (1983-2007).
Mr. Celorrio is the author of Argentine Mining Legal Framework (1998) and has lectured on Argentine Mining Law and Foreign Investments globally. He served as a Professor of Administrative Law and Economic Regulations at the National University of Buenos Aires, and was awarded Mining Businessman of the Year inArgentina (years 2000 and 2002).
“As Pan American develops its Cieneguita silver & gold project in Mexico, we will continue to acquire and develop high impact projects, such as the Cerro Delta, in South America” said Neil Maedel, Pan American’s Chairman. “The appointment of Mr. Celorrio is an important step in the execution of this strategy. Mr. Celorrio’s expertise in the Argentinean mining Industry and surrounding region makes him a very significant addition to the Pan American team and we look forward to working with him in the future.”
On behalf of the Board of Directors,
Neil Maedel, Chairman
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