NEW YORK, Aug. 7, 2008 (PRIME NEWSWIRE) -- Mayfair Mining & Minerals, Inc. (Pink Sheets:MFMM) (Frankfurt:M1M) (the "Company") is pleased to announce that at a Board meeting held on July 29th Alexander Holtermann was elected to stand and agreed to serve as a Director of the Company. He was also appointed as the Chief Executive Officer of the Company, effective immediately. Concurrently, Clive de Larrabeiti resigned his position as CEO, but retains his position as President and as a Director of the Company.
Mr. Holtermann has contributed significantly to the success of the Company since 2005, serving as an Advisory Board Member and then heading up Mayfair's acquisition program in Africa as General Manager, African Operations, where he assumed all duties and control of the Company's numerous mining projects in Zambia and Madagascar.
Mr. Holtermann, who is based in Frankfurt, Germany and Lusaka, Zambia, has worked within the financial markets in Germany and across Europe for the past fifteen years and has been involved in the Investor and Public Relations industry. His academic career included a Fulbright scholarship and work in the US Senate for Senator Arlen Specter, as part of the Washington Semester Program of the American University, Washington, D.C. He holds a Master's degree from Frankfurt JWG University. His professional investment career commenced with Public Relations work for the Frankfurt Stock Exchange and a corporate finance project for a privately held Peruvian gold mine. Subsequently, he was the founder, proprietor and managing director of Holtermann and Team GmbH, a private Public & Investor Relations company which focused on the introduction of junior and senior North American and International public companies to the German-speaking media and financial institutions across Europe. Since 1999, Mr. Holtermann has also served as Honorary Consul of Belize in Germany. During recent years Mr. Holtermann has also resided in Hong Kong for the purpose of establishing relationships for the Company within the Asian financial markets and gemstone industries.
Clive de Larrabeiti, President of the Company, stated :- "We are delighted that Alex has consented to head up our team of seasoned management professionals and to continue with our aggressive plans to add to our current portfolio of mining properties in Zambia and Madagascar.
I am happy to split the duties of CEO and President with Alex. Over the years we have worked together very successfully and intend to continue to do so into the future. There will always come a time in a corporation's evolution where management roles will shift positively and as Mayfair's momentum has increased the necessity for this has become evident. I welcome Alex's continuing and increasing commitment to the future of the Company."
On behalf of the Board of Directors, Clive de Larrabeiti President info@mayfair-mining.com www.mayfair-mining.com
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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