New set of directors placed at the helm of Minefinders

The new management team of Minefinders (TSE) is gearing up to explore the Bolsa and Dolores properties in Mexico.

Arthur Dalfen, Mark Bailey and Marc Henderson were recently appointed directors of the company. They replace Jack Belton, Paul Oulahen and Paul Guilbualt, who resigned or were dismissed as directors by order of the Ontario Court of Justice.

This change in management results from the settlement of legal action against the company (and its previous directors) by a group of dissident shareholders headed by Arthur Dalfen. Minefinders had been on hold for several months until this legal dispute, related to a proxy contest that took place during the company’s annual meeting in May, was resolved.

Mark Bailey, Minefinder’s new president, says the company intends to focus on its existing assets while pursuing other mining opportunities in North America.

An initial US$250,000 drill program is planned for the Bolsa property to test, for the first time, a zone of “highly anomalous” gold and silver mineralization over a strike length of 2,600 ft. and widths ranging from 400 to 800 ft. The goal is to confirm potential for an open-pit, heap-leach gold and silver deposit.

A budget of US$100,000 has been allocated for the Dolores gold-silver poperty, the goal being to advance targets to the drill stage.