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Farallon Announces Appointment of Chief Operating Officer

June 10, 2009

Kevin Weston appointed COO effective June 29th

VANCOUVER, June 10 /PRNewswire-FirstCall/ – Farallon Mining Ltd. (“Farallon” or the “Company”) (TSX: FAN) announces the appointment of Kevin Weston as Chief Operating Officer of the Company. The appointment will take effect June 29, 2009. Farallon commenced commercial production at its G-9 mine on April 1, 2009 and recently changed its name to Farallon Mining Ltd. in recognition of its new status as an operating mining company. This appointment is a reflection both of the Company’s current position as a producer and a testament to the rapid growth of the Company. The position will be located in Vancouver, B.C., Canada.

Farallon has successfully made the transition from an exploration company to a fully operational mining company in an extremely short period of time. It has taken less than four years from the timing of the first discovery hole at G-9 to become a producing mining company. At the Company’s Annual General Meeting held on May 22, 2009 in Vancouver, Farallon’s President and CEO, Dick Whittington, announced the Company’s new objective – to become a multi-mine, low cost, mid-tier mining company. This new appointment will strengthen the company’s management team as it embarks on this next phase of its corporate development.

Kevin Weston was most recently Vice President of Operations for Capstone Mining. He successfully led the Sherwood Copper team that brought the Minto mine up to initial design capacity of 1,800 tpd and then successful expansion to 3,600 tpd with minimal capital and no Loss Time Accidents. More recently, Kevin was instrumental in leading the Kutcho Creek Property acquisition and coordinating development planning initiatives concurrent with his ongoing operating duties. Before working for Sherwood Copper (now Capstone Mining) he was Vice President & General Manager with Breakwater Resources, responsible for the Myra Falls base metal mine in British Columbia. Prior to that, Kevin’s experience included extensive experience in various mining operations in Canada and abroad, in both open pit and underground settings. Kevin is a Mining engineer with over 25 years of experience and has a degree in Mining Engineering from McGill University. Kevin will bring his extensive operational experience to bear, first on the current operation at the G-9 mine and secondly on new operating opportunities, as Farallon seeks to develop a portfolio of operating mines, in addition to its current G-9 mine. The Company intends to reach this objective either by additional Greenfield developments at the Campo Morado site or by accretive acquisitions of operating mines.

Dick Whittington, President and CEO, said: “The addition of Kevin to the senior management team at this juncture is an exciting moment for the Company and is a reflection of our desire to quickly move towards achieving our new corporate objective – that of being a multi-mine, low cost, mid-tier mining company. Coupled with the recent closing of the US$30 million Credit Suisse loan and the consequent restructuring of our balance sheet, I believe we are now ready to expeditiously move towards achieving this objective. We have shown we can discover, finance, design, construct and commission a mine in less than four years and without resorting to bringing in a partner. We intend to build on this track record in the next phase of our history and Kevin’s appointment is a key building block in enabling us to do so.”

Farallon’s G-9 zinc, copper, silver, gold and lead mine at the Campo Morado Property in Mexico reached commercial production in April 2009. The Company expects to produce at an annualized production rate of 120 million pounds of zinc and 15 million pounds of copper for the remainder of 2009.

    ON BEHALF OF THE BOARD OF DIRECTORS
    J.R.H. (Dick) Whittington
    President & CEO

    No regulatory authority has approved or disapproved the information
    contained in this news release

    Forward Looking Information

This release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, that address future production, reserve or resource potential, continuity of mineralization, exploration drilling, operational activities, production rates, costs to completion and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements and may require achievement of a number of operational, technical, economic, financial and legal objectives. The likelihood of continued future mining at Campo Morado is subject to a large number of risks, including obtaining lower than expected grades and quantities of mineralization and resources, lower than expected mill recovery rates and mining rates, changes in and the effect of government policies with respect to mineral exploration and exploitation, the possibility of local disputes including blockades of the company’s property, the possibility of adverse developments in the financial markets generally, fluctuations in the prices of zinc, gold, silver, copper and lead, obtaining additional mining and construction permits, preparation of all necessary engineering for ongoing underground and processing facilities as well as receipt of additional financing to fund mine construction, development and operation, if needed. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company’s Annual Information Form at www.sedar.com.

SOURCE Farallon Mining Ltd.


Source: newswire



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