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NEWS RELEASE June 03, 2002
AMERICAN INTERNATIONAL ADDS DIRECTORS AND MANAGEMENT
LODI, New Jersey, June 3, 2002 - American International Ventures Inc. (OTC:
AIVN) announces the appointment of five new members to the Corporation's Board of Directors. The Company welcomes Robert G. Carrington , Samuel G.
Nunnemaker, Walter J. Salvadore, Jr., Arthur deWitt Ackerman and Brian Russell. The new Board elected Barry Downs, Chief Executive Officer and Samuel G.
Nunnemaker, President.
Mr. Carrington is a Registered Professional Geologist, BSc, Economic Geology, graduate of the University of Nevada, MacKay School of Mines and Geology, Reno, Nevada. Mr Carrington has more than 24 years domestic and international experience in precious and base metals, industrial minerals, geothermal, oil and gas, ranging from project, exploration through production. Mr. Carrington is CEO of Gold Canyon Resources.
Mr. Nunnemaker is a graduate of the MacKay School of Mines, University of Nevada, Reno with a Bachelor of Science, Geology. Mr. Nunnemaker has over 25 years experience in precious and base metal exploration in the western U.S. and Mexico. Mr. Nunnemaker has held positions as District Geologist, Inmet Mining Corporation. and Vice President Inmet Mining (U.S.) Inc. Senior Geologist, Alta Exploration Inc., Associate Geologist, Freeport Exploration Company, and Geologist, Union Carbide Corporation.
Mr. Salvadore is currently Chief Strategy Director, as well as director of
deBug-it, LLC., a specialized computer services firm. Mr. Salvadore is also a junior partner in the financial asset management firm Draseena Funds Group as well as President of R&S Enterprises a firm that provides business consulting services. Mr. Salvadore was founder, President and CEO of
Risco, a distribution firm whose specialty was high temperature refractory and insulation products and engineered design. Mr. Salvadore is a Ceramic Engineer and a graduate of Rutgers University (BS Ceramic E.). Mr. Salvadore is also former President of the American Ceramic Society and long term member of the local Chamber of Commerce.
Mr. Ackerman began his business career as a field underwriter with Home Life Insurance Company of New York where he became a charter member of the Top of the Million Dollar Roundtable and the Hall of Fame. His interest in gold and gold shares began in 1971 as a private investor. In 1975 he founded Arthur Ackerman Associates Inc., advising individuals and institutions in selecting private equity, hedge funds, and alternative investments. His career in investment banking began in 1981 when he founded and funded Ardic Exploration and Development, Ltd. and Ardic Management Corp., a Wall Street based gold exploration and money management group. He is currently Executive Vice President of The Middleton Group,
LLC, an investment banking boutique focusing on structuring and funding early stage technology companies.
Mr. Russell graduated from the University of the Witwatersrand with an honors degree in Geology. After several years as a field geologist, he spent nineteen years with the Council for Mineral Technology
(MINTEK) in South Africa (SA) directing research in analytical chemistry and metallurgical process development. While at MINTEK he presented and published numerous scientific papers and supervised several masters and doctors degrees. In 1974 he was appointed Director of the S A Minerals Bureau. While there, he represented S A on International Standards Organization committees. In 1988 he was appointed representative of the SA Minerals and Energy industry in the USA. during which time he received an award for meritorious service from the American Institute for Mining , Metallurgical and Petroleum Engineers. Since his retirement in 1994, he has consulted for several US and Canadian companies in the assessment and evaluation of precious metal ventures.
Mr. Downs began his business career in 1967 on Wall Street as a commercial banker with the Bank of New York. He progressed in banking to become a commercial lending officer and later accepted a position with Flagship Banks in Miami. The son-in law of well-known central banker and gold authority John
Exter, Mr. Downs, under Mr. Exter's tutelage, acquired an extensive knowledge of gold and inter workings of the world's money credit system. In 1974 Mr. Downs left banking to become an investment advisor with the prestigious American Institute for Economic Research in Great Barrington, MA, specializing in gold and mining stocks. In 1976 Barry became Director of Strategic Money Management with T. J. Holt and Company in New York. Mr. Downs became a stockbroker with Dean Witter Reynolds in 1977 and has held senior positions with various Wall Street firms since, specializing in gold, gold mining stocks and international investments. He has traveled on numerous occasions to South Africa and Australia and has held several investment seminars in both countries. Mr. Downs has also followed the North American gold mining industry during his professional career. Mr. Downs has lectured on gold mining investments at numerous investment conferences and was a main speaker at South Africa's Gold 100 conference in 1986 in celebration of the discovery of gold in 1886 on the
Wittswatersand.
American International Ventures, (AIVN), which had its beginnings as a gold exploration company, believes it has identified an opportunity to capitalize on the potential gold renaissance. With its recruitment of Reno based geologists, Robert Carrington and Samuel
Nunnemaker, and other key individuals and directors, AIVN has decided to acquire the control over known gold resources, which are presently marginally uneconomic. Should the gold price rise in the period ahead, it seems likely that marginally, uneconomic resources will become economic, and those properties can then be vended to major producers to be brought into production.
AIVN, to limit risk, has no intention of becoming a gold producer at this time. However, should a full fledged primary bull market in gold evolve, AIVN may decide to gain control over selected highly prospective exploration properties, where there is a high probability of identifying gold resources.
AIVN's goal is to gain control of initially 6 million to 10 million ounces of gold in the ground in Nevada. As the gold price rises AIVN will have resources which major producers will find attractive, a development which AIVN management believes should enhance shareholder value.
FORWARD-LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding potential
mineralization, resources and reserves, and development results, and the future plans and objectives of American International Ventures while forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate in actual results of future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from American International Ventures expectations are the down turn of the price of gold, inability of funds and also, the inability to obtain attractive properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Barry Downs, CEO or 775-852-3875
Samuel G. Nunnemaker, President 775-883-5287
American International Ventures, Inc.
Tel 973-335-4400 Fax 973-471-7327
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