TurkPower Corporation Appoints Brazilian Mining Veteran Juvenil Felix to its Board of Directors
NEW YORK, Aug. 24, 2012 /PRNewswire/ -- TurkPower Corporation (OTCBB: TRKP) (the "Company") is pleased to announce the appointment of Juvenil Felix to its Board of Directors. A veteran of 5 decades in the Brazilian mining business, Mr. Felix held various executive positions with mining giants such as Anglo American , in joint-ventures with Vale S.A., and was a co-founder and the COO of Jaguar Mining Inc., which rose from a start-up to a $1B+ market cap mining company during his tenure.
Juvenil Felix ' Biography:
Juvenil Tiburcio Felix was a Board Member and one of the founders of Jaguar Mining Inc. as well as its COO from 2002 to Oct/2008, during which Jaguar's market capitalization rose to over $1B. Prior to co-founding Jaguar Mining, Mr. Felix worked for Minas Gerais State Secretary of Mining and Energy as the Sub-Secretary for Mining Industry of the State of Minas Gerais in the years 1997 to 2002.
From 1979 to 1997 Mr. Felix held the position of Chief Executive Officer of Anglo American 's gold division, during which he also was the President of Anglo American owned companies Mineracao Morro Velho, Mineracao Serra Grande and Jacobina Mineracao e Comercio, with a combined production of 450,000 Oz of gold per year. In addition Mr. Felix was Anglo American 's Technical Director and Vice President of the Executive Board of Salobo Mineracao Ltda, a JV with CVRD (now Vale), where he was responsible for Anglo American 's long-term exploration program as the President of UGM, Anglo's exploration division.
In the years prior to his tenure with Anglo American , Mr. Felix worked for the Brazilian Government as a General Manager on Brazil's "Plan for Non-Iron Metals", which was published in 1974. From 1962 to 1973 he worked at Mineracao Morro Velho, holding positions from Mine Manager to Mine Superintended, and where he was responsible for a production of 165,000 Oz/year of gold. As the Superintendent Director of Mineracao Morro Agudo, he and his team were responsible for the feasibility study and the startup of the second zinc/lead mine in Brazil, which still is in operation today.
Mr. Felix graduated in Mining, Metallurgy and Civil Engineering from Ouro Preto School of Mines, Brazil, in 1961. He holds an MBA from UNA Business School 1974 and a Masters in International Mineral Economics from CETEC. Mr. Felix was a professor of Underground Mining at Belo Horizonte and Ouro Preto Schools of Mines, as well as the founder of IBRAM (Brazilian Institute of Mining) and Gorceix Foundation, a research Center from Ouro Preto School of Mines. His dedication to mining in Brazil was recognized by various public and private organizations in Brazil.
About TurkPower Corporation
TurkPower Corporation (OTCBB: TRKP) is an American junior mining company with a 99.9% ownership in Zinco do Brasil Mineracao, Ltda., and will change its name to Zinco do Brasil, Inc. in the near future. TurkPower has mining interests in Russia as well as a minority interest in the Kuluncak mine, an iron ore mine in Turkey formerly owned by Exxaro. TurkPower is currently in the process of evaluating its options and defining its strategy regarding its asset in Russia and Turkey.
Certain statements in this news release are forward-looking statements. Words such as "expects", "intends", "plans", "proposes", "may", "could", "should", "anticipates", "estimates", "likely", "possible", "potential", "believes" and words of similar import may identify forward-looking statements. Such statements are based on management's and the Company's independent mining consultant's current expectations, estimates and projections about the companies' businesses, are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors beyond the control of either of the companies, including, but not limited to, the successful completion of the merger; the combined company's ability to raise the required additional capital to develop its mining assets and to identify other acquisition and/or joint venture opportunities in the mining sector, and to establish the technical and managerial infrastructure necessary to take advantage of, and successfully participate in, such opportunities; future economic conditions; demand for manganese and other minerals the company may seek to extract; political stability; and changes in governmental regulations, and financial capabilities of the Company. Additional information on risks and other factors that may affect the business and financial results of TurkPower and the combined company can be found in filings of TurkPower with the U.S. Securities and Exchange Commission. The Company encourages any current or potential shareholder to read all the public filings before making a decision to invest in the shares of any public company.
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SOURCE TurkPower Corporation
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