October 31, 2007 Pediment Exploration Creates Advisory Board. Pediment Exploration Ltd (PEZ-V, P5E-Frankfurt) is pleased to announce that it has created a new Advisory Board and that three of the most successful explorers/developers in Mexico and South America have consented to act as founding members. Allen Ambrose, Mark Bailey and Dr. Peter Megaw have agreed to serve as advisors to Pediment Exploration on a broad range of technical and financial matters.
Allen Ambrose in a founding director and President of Minera Andes Inc (MAI-T), which recently started production with JV partner Minera Hochschild at its San Jose gold-silver mine in Argentina. Mr. Ambrose has extensive experience in all phases of exploration, project evaluation and project management, and has worked as a geologic consultant in the U.S., Venezuela and Argentina. As a consultant, he was a co-discoverer of a Venezuelan auriferous massive sulphide deposit acquired by Gold Reserve Corporation, and known generally as the Brisas deposit. He holds a B.Sc. degree in Geology from Eastern Washington University.
Mark Bailey is a director, President and CEO of Minefinders Corporation Ltd. (MFL-T, MFN-Amex) which is starting production at its 100% owned 18,000 tonne per day Dolores open-pit gold/silver mine in Chihuahua, Mexico. Mr. Bailey, a registered Professional Geologist, has Master of Science and Bachelor of Science degrees in geology from Oregon State University and the University of Washington respectively, and has had a very successful 31 year career in exploration, development and management positions in the mining industry. His exploration expertise includes work throughout North America, Latin America and overseas.
Dr. Peter Megaw, C.P.G., has a Ph.D. in geology from the University of Arizona and more than 27 years of relevant experience focused on silver and gold exploration in Mexico. He is a certified Professional Geologist by the American Institute of Professional Geologists and an Arizona Registered Geologist. Dr. Megaw has been instrumental in a number of mineral discoveries in Mexico including new ore bodies at existing mines, Excellon Resources' Platosa Mine, and MAG Silver's Juanicipio, Batopilas and Santa Eulalia Properties. Dr. Megaw is a founding director of both MAG Silver (MAG-T, MVG-Amex) and Excellon Resources (EXN-V).
Pediment's President, Gary Freeman, commented that "we are very pleased that we were able to attract three individuals of such high calibre to Pediment's advisory board. All three of these gentlemen have had direct involvement with important mineral discoveries in Mexico and South America. Three of these discoveries are now in production. Allen, Mark and Peter all took projects they believed in and saw them through to production, persevering through a very difficult market early this decade. The experience they gained will be a valuable asset to Pediment and all its stakeholders. As we work to develop the San Antonio, La Colorada and other projects and move them towards the ultimate goal of production I'm sure we will all benefit from the counsel of advisors who have travelled the road to production before us."
Pediment Exploration Ltd. is an aggressive well-financed explorer focused on north western Mexico. Pediment has ten 100% owned and one optioned project, over $9 million in working capital and has exploration in progress on several of its properties.
For additional information please contact Gary Freeman or Michael Rapsch at 604-682-4418.
On Behalf of the Board Gary Freeman, President and CEO PEDIMENT EXPLORATION LTD Vancouver, British Columbia
We Seek Safe Harbour.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 27E of the U.S. Securities Exchange Act of 1934, as amended. Such statements include, without limitation, statements regarding the timing of future exploration activities by the Company, future anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans, potential mining scenarios, the success of mineral processing procedures, business trends and future operating costs and revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, and the U.S. Securities and Exchange Commission's Electronic Data Gathering and Retrieval (EDGAR) System at www.sec.gov, for a more complete discussion of such risk factors and their potential effects.
This press release contains information with respect to mineral properties of which the Company has no interest or rights to explore or mine. The Company advises that the U.S. Securities and Exchange Commission's mining guidelines prohibit information of this type in reports filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.
All of the Company's public disclosure filings may be accessed via www.sedar.com and www.sec.gov, and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities.
You can view the Previous News Releases item: Mon Oct 22, 2007, La Colorada, Gold-Silver Deposits Being Acquired For High-Grade Testing
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