NEW YORK, July 15, 2008 (PRIME NEWSWIRE) -- Mayfair Mining & Minerals, Inc. (Pink Sheets:MFMM) (Frankfurt:M1M) announces that, on July 10, 2008, Peter Davy tendered his resignation as a Director of the Company.
On July 11, 2008, Mr. Davy was removed and terminated by the Board of Directors as Chief Operating Officer, effective that date.
In addition, on July 11, 2008, the Board of Directors terminated Mr. Davy's consulting agreement with the Company, effective that date.
Based on the foregoing, Mr. Davy is no longer associated or affiliated with the Company in any respect, directly or indirectly, and, therefore, has no capacity or authority of whatsoever nature to represent, or act on behalf of or for the Company in any respect, directly or indirectly.
Mr. Alexander Holtermann has been appointed by the Company as General Manager, African Operations, and will assume all duties and manage and exercise control of the Company's numerous mining projects in Zambia and Madagascar. He will work with the Company's Zambian partner and Mining Manager, Upendo Nyendwa, to help ensure the Company's current proposed expansion plans continue to be implemented, as planned. Mr. Holtermann is currently in Zambia and is involved in a thorough review of mining operations. Mr. Holtermann is also conducting meetings with potential future joint venture partners and acquisition targets. Further announcements concerning these matters are expected shortly.
Clive de Larrabeiti, CEO and President of the Company, stated : "We are pleased to continue our aggressive plans to add to our current portfolio of mining properties in Zambia. We are currently seeking to actively expand our potential in gold, copper and amethyst mining and, with the continued goodwill and assistance of our current partners through our wholly-owned subsidiary, Mayfair Mining & Minerals, Zambia, we expect to continue to considerably increase our corporate momentum and reputation within this extremely pro-mining country."
On behalf of the Board of Directors,
Clive de Larrabeiti CEO & President.
SAFE HARBOR STATEMENT
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various mining project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward looking statements contained herein. Forward-looking statements involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends" and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks described in this press release. Such risks include, but are not limited to terrorist activities that may affect our business or the economy in general; lack of success in mining activities; the prices of metals and gemstones; lack of funds to conduct mining activities; increase in costs of production; changes in governments, laws, rules and regulations; and similar risks. For further information about the Company, please refer to its materials filed with the Securities and Exchange Commission and available on the SEC website at www.sec.gov