TORONTO, ONTARIO--(Marketwire - July 9, 2012) - Morumbi Resources Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") is pleased to announce that Lindsay Semple has been appointed Chief Executive Officer ("CEO") of the Company. Mr. Semple is assuming the role of CEO from Mr. Mark Brennan, who has served as Morumbi's CEO since December, 2009. Morumbi is also pleased to announce that Mr. Brennan has been appointed Morumbi's Executive Chairman, while Mr. Stephen Shefsky has been appointed the Company's Vice-Chairman. Mr. Shefsky has served as Chairman of the Company since December, 2009.
Lindsay Semple, a Founder of Rockwell Exploration S.A. which was acquired by Morumbi in March 2011, has unique insight and experience in resource acquisition in Papua New Guinea ("PNG") and the Autonomous Island of Bougainville in particular. Mr. Semple has been involved intensively in PNG since 1995 and learned early that a fundamental understanding of the Melanesian culture is a necessary prerequisite to success in PNG. Mr. Semple followed the emergence of Bougainville as a resource powerhouse in the 1970s through the development of the Panguna Mine and the subsequent events that led to its closure, civil war and plant destruction in the late 1980s and early 1990s. Morumbi is pleased to have Mr. Semple assume the role of CEO in order to further develop the Company's interests in PNG and its emerging mineral opportunity base on the Autonomous Island of Bougainville.
Mr. Semple graduated with an M.A. in international economics from University of British Columbia. After graduation, Mr. Semple focused on commodity research and international monetary issues and lectured in Economics at the University and College level. In 1983 Mr. Semple became a foundation Director and investor in Breakwater Resources, the co-developer of the Don Cannon Mine in Washington State. Mr. Semple went on to then co-found Grandview Resources ("Grandview") in 1985, a junior mining company that put the first heap-leach gold mine into operation in Calaveras County, in the California Sierra Nevada Mountains. Grandview was later sold to Western Mining Corporation ("WMC") of Australia, at which time Mr. Semple became a Director of WMC's Canadian operations. In 1992, Mr. Semple became a Director of Minera Rayrock, a junior mining company that financed, built and operated the high grade underground Copper Ivan/Zar mine in Northern Chile. In 1997, Mr. Semple then turned his attention to the resource potential of PNG having grown up in nearby Queensland, Australia, where together with Philip Rali he ultimately founded Rockwell Exploration S.A. which was acquired by Morumbi in March 2011. Mr. Semple has spent much of the past seven years working with the leaders of Bougainville at the local and government levels in their quest to restart mining as the foundation high impact activity to raise living standards and to reach economic independence. It is these relationships and experiences that he brings to Morumbi as it builds towards a high quality mineral resource base on the Island.
Morumbi is a public company with a light oil property in northwest Alberta as well as mineral exploration licenses in PNG. The Company is also pursuing attractive mineral and oil and gas licenses with several Landowner owned companies on the Autonomous Island of Bougainville. The Company trades on the TSX Venture Exchange under the symbol "MOC". For more information about Morumbi and the Company's current properties and plans visit our website at www.morumbi.ca.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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