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| | Mon May 28, 2007
Frontera Copper Executive Appointments
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| | Toronto, ON -- May 28, 2007 -- Frontera Copper Corporation (FCC: TSX, FCC.NT, FCC. NT.A: TSX) is pleased to announce two executive appointments at Cobre del Mayo, S.A. de C.V., (CDM), Frontera Copper's wholly owned Mexican subsidiary.
Effective June 1, Jesús Gutiérrez B. will assume the newly created position of Director General of Cobre del Mayo, S.A. de C.V. Since joining CDM as Director de Operaciones on June 30, 2005, Jesús has staffed and led the organization from feasibility through start up and into production in near record time and with no significant upsets. Jesús Gutiérrez came to Frontera Copper with a technical background rich in mining and processing operations and management. He has held positions of varying responsibility, including Director de Operaciones for Grupo Mexico's Cananea operations, Director General of Minera Real de Angeles and Director General de Empresas Frisco. In his new role as Director General, he will be responsible for all CDM operations and business matters and will report directly to Gary Loving, President and CEO of Frontera Copper.
The company is also very pleased to welcome Joseph P. Campbell to the position of Director de Operaciones for Cobre del Mayo. Joe Campbell has over twenty-four years of experience in management, supervisory and engineering roles with Inmet Mining Company, Phelps Dodge Mining Company (a subsidiary of Freeport-McMoRan Copper & Gold Inc.), Cyprus Minerals, Cyprus Amax and Cleveland Cliffs. Most recently Joe was Director Processing of Inmet Mining Company's Cobre Las Cruces, S.A. Project, in Spain. Previously he worked at Phelps Dodge and Cyprus Minerals properties located in Arizona and Peru. Joe has co-authored several technical papers dealing with copper leaching and electrowinning processes and has been a leader of the changes and improvements incorporated at the Cerro Verde Operation in Arequipa, Perú. Joe holds a Bachelor of Science degree in Metallurgical Engineering from the University of Minnesota and is a member of the SME/AIME and the Instituto de Ingenieros de Minas del Perú.
"With Piedras Verdes now operating at full production, our attention is focused on improving our operating efficiencies," says Gary Loving, President and CEO Frontera Copper. We continue to strengthen our operating team, which will enable us to improve the operating cost performance at Piedras Verdes and also to provide Frontera Copper with the ability to evaluate and develop additional projects. With the quality and depth of talent that we are fortunate to have at Frontera Copper and Cobre del Mayo, I believe that we are uniquely positioned to develop new additional projects, and utilize the significant cash flows which are expected to be generated from the Piedras Verdes operations."
Annual General Meeting
Frontera Copper will hold the Annual General Meeting on June 27, 2007 at 3:00 p.m. The meeting will be held in Toronto at The Dominion Club "Melinda Gallery," One King Street West.
About Frontera Copper
Frontera Copper is a Canadian mining, development and exploration company whose principal activity is the production of copper cathode from the Piedras Verdes run-of-mine heap-leach copper operation in Sonora, Mexico. Production commenced in October, 2006.and has ramped up to an annual rate of 70 million pounds. A total of 942 million pounds of copper is projected to be produced during the 18-year life of the operation. Existing resources and prospective exploration targets adjacent to the main open-pit have the potential to extend the life of the project.
The Company currently anticipates production of 60 to 63 million pounds of "LME Grade A" quality copper cathode during 2007 at a cash cost of approximately $1.19 to $1.27 per pound (including prepaid royalties). Capital expenditures for 2007 are forecast at $30 million.
For further information, please see Frontera Copper's website at www.fronteracopper.com or contact:
Ann Gibbs
Manager of Investor Relations
Tel.: 416 350-5132
Toll-free: 888 323-0973
Email: ann@fronteracopper.com
Dave Peat
Chief Financial Officer
Tel.: 602 667-3202
Email: dave.peat@fronteracopper.com
Information in this news release that is not current or historical factual information may constitute forward-looking information or statements within the meaning of applicable securities laws. Implicit in this information, particularly in respect of statements as to future operating results and economic performance of the Company, and resources and reserves at the Piedras Verdes operations, are assumptions regarding projected revenue and expense, copper prices and mining costs. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including risks relating to general economic conditions and mining operations, and could differ materially from what is currently expected. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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