American International
Ventures Inc. AIVN
announces that the management of the company has been
reorganized with the appointment of two new Officers to the
Corporation. The Company welcomes Myron A. Goldstein,
Chairman of the Board, and James K. Duff, CEO/President.
Jack Wagenti, who previously had been serving as President,
Chief Financial Officer, Secretary and Treasurer will
continue to serve as the Chief Financial Officer, Secretary
and Treasurer.
Mr. Myron A. Goldstein, Chairman of the
Board
Mr. Goldstein is a senior mining executive
with over 30 years diversified international management,
exploration and development experience in precious and base
metals and uranium. Mr. Goldstein has significant expertise
in corporate governance and management, business
development, economic evaluation, negotiations, budget and
staff management. He is a graduate of the University of
Toronto where he earned a Ph.D. in Physics and Geophysics.
His Ph.D. thesis work led to the development of the CSMAT
geophysical technique that is in widespread use in mining
exploration. He also earned a M.S. in Geophysics from the
Massachusetts Institute of Technology, and a B.S. degree in
Engineering Geophysics from the Colorado School of Mines. He
has previously been employed by Kennecott Copper, Esso
Eastern, Chevron Exploration Corporation, Unirex, Coeur
d'Alene Mines Corporation, Lac Minerals and Global Mining
Management.
James K. Duff, Chief Executive
Officer/President
Mr. Duff is an experienced mining
executive with 35 years of diverse international experience
in the precious and base metal mining industry in U.S.,
Canada, Latin America and Australia. He earned a B.S. degree
in geology from the Mackay School of Mines at the University
of Nevada Reno, a M.S. degree in geology from the University
of Idaho, and he completed the Program for Management
Development at the Harvard School of Business. Mr. Duff has
previously been employed by Bear Creek Mining Company (Kennecott
Copper Company), Newmont Mining Company, Cyprus Mining
Company, White Pine Copper Company, the Bunker Hill Company,
St. Joe Minerals, Bond International Gold Company and Coeur
d'Alene Mines Corporation. From 1995 through 2002 he was
Vice President of Business Development for Coeur d'Alene
Mines, a public company listed on the New York Stock
Exchange, and he is currently a consultant to Coeur d'Alene
Mines. Mr. Duff also serves as the non-executive Chairman of
Little Squaw Gold Mining Company, a publicly listed U.S.
company that has a large exploration stage gold property in
Alaska.
The new management appointments follow the
removal of the previous Chairman and President by action of
the company's Board of Directors and shareholders. These
individuals had been engaged by the company in 2002 to lead
it into the mining business, and they assisted AIVN in the
acquisition of the Bruner property in Nevada. However, the
board subsequently uncovered activities by these individuals
which caused their removal and which are the subject of
current legal action by AIVN.
AIVN is also pleased to announce that it
has filed all past due 10-KSB and 10-QSB reports with the
SEC (EDGAR), and the company is now fully reporting under
SEC rules. Consequently, trading in the Company's stock can
now take place on the NASDAQ OTC Bulletin Board, and the OTC
Pink Sheets. The company currently has 16,348,544 shares
outstanding.
AIVN is an exploration stage company that
is focused on the acquisition, exploration and development
of gold projects. The Company's principal gold project is
the Bruner property, which is located in Nye County Nevada
in a region known as the Walker Lane gold belt, 125 miles
east-southeast of Reno, Nevada. AIVN owns 28 patented claims
totaling 560 acres and 48 unpatented claims totaling 940
acres for a total land position of 1,500 acres in the heart
of the Bruner district. All claims are in good standing.
Several high-grade gold mines and
prospects have been developed in the Bruner district in
auriferous quartz veins hosted by Tertiary volcanic rocks.
Past production at Bruner has been estimated at
approximately 55,587 ounces of gold contained in 99,625 tons
of ore, which is equivalent to a recovered grade of 0.562 oz
gold/ton. Several large scale volcanic-hosted precious metal
deposits are located in the general vicinity, including
Rawhide (1.4 million ounces gold total production, currently
in reclamation), Round Mountain (720,000 ounces gold current
annual production with over 9 million ounces produced
through 2003), and Paradise Peak (1.5 million ounces gold).
During the past 25 years several companies
have conducted exploration in the Bruner district for
volcanic-hosted, bulk-tonnage precious metal mineralization.
The work that was completed includes geological mapping and
sampling, about 1,000 soil geochemistry samples, several
hundred rock chip samples from outcrops and underground
workings, helicopter-airborne and ground geophysics, and 147
drill holes totaling 65,185 feet. Most of the drill holes
were reverse circulation holes.
AIVN is currently evaluating the project
data and formulating plans for a drilling program. The
company is also exploring a private placement equity
financing to fund the exploration.
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.
GONDA2000