FOR IMMEDIATE RELEASE
NEWS
RELEASE
Nord Resources Corporation
1 Wetmore Road, Suite 203
Tucson, Arizona 85705
Tel: (520) 292-0266 Fax: (520) 292-0268
Nord Resources Announces Annual Meeting of Stockholders
Wednesday, September 20 , 2006
SOURCE:
Nord Resources Corporation
At the Annual Meeting, stockholders
will be asked:
1. To elect Ronald A. Hirsch, Stephen D. Seymour, Wade D. Nesmith, Douglas
P. Hamilton and John F. Cook to the Company’s Board of Directors;
2. To approve the grant of discretionary authority to the Company’s
Board of Directors to amend the Company’s Amended Certificate of Incorporation
to effect a reverse stock split of the Company’s issued and outstanding
shares of common stock at a ratio within the range from one-for-two to one-for-six,
at any time prior to the Company’s next annual meeting of stockholders;
3. To approve an amendment to the Company’s Amended Certificate of Incorporation
to increase the number of authorized shares of common stock from 50,000,000
to 100,000,000;
4. To approve the Company’s 2006 Stock Incentive Plan;
5. To ratify the selection of Mayer Hoffman McCann P.C. as the Company’s
independent registered public accounting firm for the fiscal year ending December
31, 2006; and
6. To transact any other business properly brought before the Annual Meeting
and any adjournment thereof.
The foregoing items of business are more fully described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on September 14, 2006 and mailed to the stockholders on or about September 18, 2006. Only stockholders of record of the Company’s common stock at the close of business on August 22, 2006 are entitled to notice of, and to vote at, the Annual Meeting and any adjournment thereof.
The Company has retained Morrow & Co., Inc. to assist the Company in soliciting proxies. If you would like a copy of the Company’s proxy materials, please contact: Morrow & Co., Inc. at (631) 918-4031. These materials are also available on the Internet website maintained by the U.S. Securities & Exchange Commission at www.sec.gov
About Nord Resources Corporation:
Nord is an Arizona-based natural resource company. Nord’s near term objective is to resume mining and leaching operations at the Johnson Camp Mine, with the view to producing approximately 25 million pounds of cathode copper per year. Nord has obtained a feasibility study for the Johnson Camp Mine that was completed in March 2000. The feasibility study was updated as of October 2005. The updated feasibility study includes an economic assessment of the Johnson Camp Mine based on the mine plan included in the original feasibility study, capital and operating cost estimates as of the third quarter of, 2005, and trailing average copper prices for the 36 months ended September 30, 2005.
As disclosed in more detail in Nord’s annual report
for the year ended December 31, 2005, and the amendments thereto, filed with
the Securities and Exchange Commission, Nord will have to complete the mine
development plan outlined in the updated feasibility study before it can resume
full mining operations. Accordingly, although Nord has decided to proceed
with the mine plan based on the updated feasibility study, management has
not yet made a production decision since completion of the mine development
plan is subject to raising sufficient financing. Additional risks and uncertainties
are discussed in detail in the annual report.
Nord also has options to acquire interests in three exploration stage projects,
Coyote Springs and the Texas Arizona Mines project, both located in Arizona,
and Mimbres located in New Mexico. Nord is planning to conduct preliminary
exploration activities at the Coyote Springs and Mimbres properties to help
it determine whether it should exercise the options. Any such exploration
activities are subject to the availability of sufficient financing, which
cannot be assured.
FORWARD-LOOKING
STATEMENTS:
This news release contains forward-looking statements. These
statements are based on management’s expectations or beliefs and can
be identified in some cases by words such as “estimates”, “projects”,
“expects”, “intends”, “believes”, “plans”,
or their negatives or other comparable words. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements to be materially different
from any future results, performance or achievements that may be expressed
or implied by such forward-looking statements. Forward-looking statements
include statements regarding management’s plans to proceed with the
mine plan for Johnson Camp Mine based on the updated feasibility study, and
other expectations, intentions and plans that are not historical fact. You
are cautioned that any such forward-looking statements are not guarantees
and may involve risks and uncertainties such as those relating to the market
price of copper, availability of funds, government regulations, common share
prices, operating costs, capital costs, outcomes of ore reserve development
and other factors. Actual events or results may differ materially. In evaluating
these statements, you should consider various risk factors and uncertainties,
including those outlined in our annual report on Form 10-KSB for the year
ended December 31, 2005, and the amendments thereto, and in other reports
we file from time to time with the SEC. Given these uncertainties, readers
are cautioned not to place undue reliance on such forward-looking statements.
We assume no obligation to update our forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors affecting
such statements.
For information contact:
John Perry, Senior Vice President, Chief Financial Officer, Secretary and
Treasurer
(520) 292-0266
Website: www.nordresources.com
SOURCE: Nord Resources Corporation