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Extorre Gold Mines Promotes Trevor Mulroney To President And CEO

Extorre Gold Mines (TSE:XG) Monday reported the promotion of Trevor Mulroney to president and chief executive as the company seeks to advance its Cerro Moro project in Argentina.

Mulroney, who has been chief operating officer since October 2011, replaces Eric Roth as president and CEO. Roth will remain as a director and consultant for Extorre, the company said.

With 25 years experience in project management and mine development, Mulroney is a qualified mining engineer. In addition to his engineering degree, Mulroney also has an MDP from the University of South Africa and a first class Mine Managers certificate.

Recently, he held positions including project director for Kula Gold (ASX:KGD) at the Woodlark project in PNG, and was project manager for Santa Barbara Mines in Western Australia.

"Trevor has shown tremendous capacity in leading the development team at Cerro Moro," said co-chairmen Yale Simpson and Bryce Roxburgh in a statement.

"His focus on identifying the optimum project development path and meeting the corporate milestones required of him gave the Board the necessary confidence to fully endorse his promotion."

The gold miner noted that Mulroney's immediate priorities will be to advance the Cerro Moro project studies beyond a preliminary economic assessment.

On April 2, Extorre announced the results of a preliminary economic assessment for potential mine development at Cerro Moro.

The study, which was based on a NI 43-101 mineral resource estimate in November, modelled a nine year mine to produce 850,000 gold ounces and 47 million ounces of silver.

This proposed mine would produce an average of 248,000 ounces gold equivalent per year for the first five years for a cash cost of US$303 per gold equivalent.

At Cerro Moro, exploration with four drills is ongoing. The program is designed to boost total resources and to in-fill some areas for mine planning.

Results from the current drilling will be released when available, the company added.