United Mining Group
United Mining Group appoints Charles Pitcher, P.E. as Independent Director
United Mining Group / Change of Personnel 26.07.2010 15:30 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- United Mining Group, Inc. (the 'Company' or 'UMG'), (CNSX: UMG, German Stock Exchange, Munich: UM8) announces that the Board has appointed Charles Pitcher as an independent director. Mr Pitcher is a mining engineer with over 40 years experience and has held several senior executive management and operating positions in the minerals industry. 'We believe Charles will make a significant contribution to UMG. He has an enviable reputation in the market and deep knowledge of Idaho's Silver Valley as a result of his previous association with the strategic planning for the exploration, development and production at the Sunshine and Crescent Silver Mines. He brings to UMG his critical mining expertise as well as his extensive network in the industry. I am very pleased to welcome Charles to our team', comments Greg Stewart (CEO). Charles G. Pitcher, P.E. Charles Pitcher has over 40 years of experience in senior executive positions in civil construction and mine development with a consistent record of accomplishment. He has extensive experience in the development and operations associated with underground and open-pit mining. He has built successful teams for the mine management and operations in both developed and developing regions of the world. More recently Mr. Pitcher was President and CEO of Western Canadian Coal Corp in the development of the Northeast coal deposits for the Company and remains a director of that company. He joined the Company in 2002 as Chief Executive Officer to oversee the completion of feasibility studies and then served as Chief Operating Officer from May 2004 to November 2004. Mr. Pitcher is President of The Mining House Inc, a provider of engineering services related to project development and management. Mr Pitcher also holds Board positions with Western Coal Corp., Wildcat Resources and Sila Industries Ltd. Board Appointment Mr Pitcher has been appointed as an independent director. The Board has granted Mr Pitcher 300,000 options exercisable at $0.54 for a period of five years from the date of issue, July 15, 2010. About United Mining Group United Mining Group is a vertically integrated mining company with operations in Idaho, USA, combining both mining services and a significant interest in the Crescent Silver Mine which generated $15.7 million revenue in 2009. The Company has commenced work on its option to acquire an 80% interest in the Crescent Silver Mine through the expenditure of $9 million on mine exploration, development and operations over three years. The mine is located in the Silver Valley, Idaho, the second largest silver district in the world. The Crescent Mine has a NI 43-101 indicated silver resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and additional inferred silver resources of 4.1 million ounces silver (211,000 tons grading 19.5 opt silver). The Crescent Silver Mine has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK Consulting 43-101 report, March 1, 2010). The Company offers a full suite of mining services including contract mining, contracting/construction (including mine remediation), and fabrication and machine services. The Company owns its own custom welding and fabrication shop, allowing it to repair/rebuild its own equipment and supply outside customers. In 2009, Mining Services generated $15.7 million revenue and $3 million operating income. UMG is committed to building a senior silver producing mining company based on aggressive exploration and development of the highly-prospective Crescent Mine and through additional acquisitions in the Silver Valley and other silver districts. In compliance with NI 43 101, Lawrence Dick, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release. On behalf of the Board of Directors of United Mining Group, Inc., Greg Stewart President, CEO and Director For more information about the Company, please visit: www.unitedmininggroup.com FOR MORE INFORMATION, PLEASE CONTACT: Greg Stewart (CEO) Tel: +1 208 682 9018 Email: gstewart@unitedmininggroup.com 26.07.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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