NEW YORK, Jan. 11, 2012 (GLOBE NEWSWIRE) -- Mustang Alliances Inc (the "Corporation") (OTCBB:MSTG) is pleased to provide an update on additions to its management team. Over the past several months, the Company has added seasoned financial and mining professionals to its management team, thereby positioning Mustang to become a successful gold explorer and a more integrated mining company.
Robert Faber joined the Board of Directors. Robert has more than 20 years of diverse, senior financial and operational management, business and acquisition experience, including 10 years of experience in the mining sector. Since joining Comstock Resources (AMEX:LODE) in 2003, Robert has held various positions at Comstock Resources, including President, CEO, CFO.
Larry Wolfe joined the Board of Directors and will serve as CFO. Larry has more than 20 years of professional accounting experience. Larry was a partner in charge of audit and assurance services with Jewett, Schwartz, Wolfe & Associates, focused on SEC compliance and corporate due diligence, forensic accounting, litigation support and business valuation services.
John C. Spurney assumes the role of Senior Consulting Geologist. John has a distinguished career of over 30 years of experience in mineral exploration. He has served or consulted for Placer Dome, Barrick Gold, Brett Resources, Bema Gold, and Getty Mining. He has evaluated a wide variety of precious and base metal deposits in metallogenic belts around the world and played a key role in discovery of the Cerro Crucitas and Conchudita epithermal gold deposits (in Costa Rica), and the Cerro Casale porphyry gold-copper deposit (in Chile).
Keith Brogoitti joins Mustang as Senior Mining Engineer. Keith brings with him over 25 years of mineral exploration, development, and operational experience. He has worked in the uranium, base metal and precious metal sectors of the mining industry. He has held management positions for companies such as Newmont Mining and Compania Minera Antamina. He has also worked as a technical consultant for Placer Dome and Noranda and most recently has been consulting for Kennecott, Phelps Dodge, Asarco and BHP. He has worked internationally in Myanmar, Chile, Peru and Iraq.
John and Keith's technical and field work experience will prove vital to Mustang working toward the discovery and production of significant gold resources. In particular, John and Keith will help guide the Company's next phase of advanced exploration drilling on the Potosi Gold-Silver (Ag-Au') deposit in Honduras, in order to further its development to reach the pre-mine feasibility stage
Leonard Sternheim, Chairman and CEO, commented, "With these additions to its senior management team, Mustang has taken an important step towards its goal of growth through developing our gold properties in Honduras and acquiring other producing or advanced gold mine projects. On behalf of the Board of Directors, I would like to welcome Robert, Larry, John and Keith onboard."
ABOUT MUSTANG ALLIANCES INC.
Mustang is a junior mining company with a focus on the acquisition and development of precious metals properties in Honduras. Mustang has 5 concessions totaling 4,400-hectares under agreement in the Choluteca District of Honduras. Concessions are on trend to several world class gold mines in the Central American gold belt, such as the El Limon mine, Nicaragua, that has produced over 3 Million Ounces of gold to date. The Mustang Concessions are in an area that has been actively worked by artisanal miners for the past 200 years
Certain statements in this announcement including statements such as "believes," "anticipates," "expects" and all similar statements regarding future expectations, objectives, intentions and plans for mineral exploration, development and production may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Mustang Alliances to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-KSB, for the year ended December 31, 2010 and its Quarterly Report on Form 10-Q for the period ended September 30, 2011. Mustang Alliances Inc. undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.