RENO, Nev., Oct. 1, 2012 /PRNewswire/ -- Discovery Minerals
Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC Pinksheets: DSCR)
is pleased to announce the Board has approved the selection
of former White House appointee, Mr. Henry
Manayan, Esq., as Chief Operating Officer for the
company. Mr. Manayan was appointed to a White House Advisory
Group on Asian-Pacific Affairs by U.S. President Bill
Clinton. Mr. Manayan served three terms as the Mayor of the
City of Milpitas, in "Silicon
Valley", California, and was the
first Asian-American ever elected to the position.
Mr. Manayan is the President of The Transpacific Companies, LLC,
a finance and investment company based in Silicon Valley,
California. He was educated at
Syracuse University, Oxford University (Great
Britain), Yale-in-China College, Golden Gate
University Graduate College of Banking and Finance, and
received his Juris Doctor from the University of Santa Clara School
of Law. He also completed post-graduate work at the London Business School and Harvard University.
Mr. Manayan was also a co-founder of ViaGold Capital, a private
equity and venture fund holding company, which went public on the
Australian Stock Exchange. He was involved in the merger and
acquisition of Culturecom Holdings, Ltd., which is listed on the
Hong Kong Stock Exchange. While at Culturecom Holdings, his focus
was in mergers and acquisitions. He served as Chairman, CEO, Board
Director or executive officer to numerous portfolio companies
including Terra Solar Global, which was recently sold. He also has
been an officer, director or legal counsel to numerous companies
and organizations in four countries.
"We are gratified that a man of Mr. Manayan's stature and
character has chosen to join Discovery Minerals. On behalf of
the Board of Directors and shareholders, welcome to the team!"
stated Michael Silver, Chairman of
Discovery Minerals. "Mr. Manayan will have ample opportunity to
exercise his multiple skills in the pursuit of Discovery Mineral's
goals."
Discovery Minerals has a total of $450,000 committed costs to assess and develop
the property known as the Turquoise Mountain Project. Based
on extensive data acquired from previous owners' exploration
operations during the 1950s and '60s, the Company intends to
re-evaluate the promising results obtained then, in light of
today's higher metals prices and newer production technologies now
available. Comparisons with nearby mineral occurrences &
properties would put the value of the leases in excess of
$5,000,000. The Turquoise
Mountain Project will require additional funding before it can
begin generating revenues.
Discovery Minerals is a U.S.-based metals exploration and
development company focused on projects in the Western United States and California.
The Company is led by an experienced board of directors and
management team with extensive corporate, exploration, mine
development and production operation records in the US,
Australia and Asia.
About Discovery Minerals Ltd.:
Discovery Minerals Ltd. (Frankfurt WKN: A0LB3X) (Kurzel: D7Z) (OTC
Pinksheets: DSCR) is a production stage company formed to acquire
and develop natural resource properties. Activities include gold,
precious metals and minerals, including rare earth minerals
production and sales. The Company has initiated a new program
to evaluate undervalued assets, including clean-tech and
alternative energy investments, for potential addition to its
portfolio.
Safe Harbor: This release includes forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 27E of the Securities Act of 1934. Statements contained in
this release that are not historical facts may be deemed to be
forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approval for anticipated actions.
Company Contact Information
Mr. Russell Smith, Chief
Executive Officer
Discovery Minerals, Ltd.
4337 Marina City Drive, Suite 337
Marina Del Rey, California
90292
Telephone: 1.310.822.0207
http://www.discoveryminerals.com
SOURCE Discovery Minerals Ltd.