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Cleveland Mining Company Appoints Peter Fisher As CEO

Cleveland Mining Company (ASX: CDG) has appointed mining veteran Peter Fisher as its chief executive officer, focusing on the company's South American operations.

This will start with the optimisation and expansion of the Premier Gold Mine, where commercial production recently began.

His appointment will allow managing director David Mendelawitz to focus on company strategy, marketing and growth opportunities.

Fisher has more than 30 years experience in executive management, project development, finance, business development and mining engineering gained from projects in Australia, USA, China and Europe.

He has held executive management and consulting roles with numerous major mining companies including BHP Billiton (ASX: BHP), Rio Tinto (ASX: RIO), Hancock Prospecting and HWE Mining.

Fisher is skilled in mining project assessment and development, and his experience ranges from feasibility and financial studies to management and production in gold, ironā€ore, copper and other minerals.

"We are delighted to secure a mining professional of Peter's calibre to take on the chief executive officer role," Mendelawitz said.

"His extensive industry knowledge, skills and experience will be highly valuable as we maximise gold production at the Premier Mine and look to grow our project portfolio."

The Phase 1 gravity plant at the Premier Gold Mine is currently operating at up to 40 tonnes per hour with Cleveland working on Phase 2, which will increase throughput to 80 tonnes per hour and improve recoveries by adding a CIL circuit and second ball mill.

Phase 2 is expected to produce about 40,000 ounces of gold per annum from 2013.

With cash flows from the sale of gold imminent, Cleveland plans to start drilling from December 2012 or January 2013. This campaign will aim to extend the Premier resource along strike, which currently remains open.

Drilling will also target the Premier Southern Zone, where extensive soil sampling, geophysics and limited drilling has shown promising results along the same structural trend from AngloGold Ashanti's (NYSE: AU) Serra Grande Mine, which is located less than 1 kilometre away.

Over 5 million ounces of gold have been defined at Serra Grande and the same rock types and structures continue into Cleveland's tenements.

Premier currently sources gold from tailings material that was reprocessed as part of the commissioning process.

It is located about 270 kilometres northwest of Brazilian capital Brasilia and just 3 kilometres from the mining and farming town of Crixas, which is well serviced by infrastructure and highly supportive of the mining industry.

It shares the same geology and low labour and power costs as Serra Grande.

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