Karmin Announces Appointment of New Directors and CEO

TORONTO, Sept. 2, 2011 /CNW/ -- 
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TORONTO, Sept. 2, 2011 /CNW/ - Karmin Exploration Inc. ("Karmin") (TSXV: KAR) announced today that the Board of Directors of Karmin has
 approved the appointment of four new directors to fill vacancies among
 the Board of Directors as well the addition of a new director to the
 Board of Directors. David Brace, Ed Guimaraes, Larry Ciccarelli,
 Richard Faucher and Terence Ortslan have all agreed to join the Board
 of Directors, subject to the approval of the TSX Venture Exchange ("TSXV").  The new directors will serve until the next annual meeting of
 shareholders of Karmin and will be nominated for appointment at the
 meeting.


Karmin also announced the appointment of David Brace as Chief Executive
 Officer of Karmin to replace William Fisher, who tendered his
 resignation as Chief Executive Officer and director of Karmin to pursue
 other opportunities.


Each of the new directors and CEO has extensive experience in the mining
 sector and has served on the board of directors of other mining
 companies listed on the Toronto Stock Exchange (the "TSX") or the TSXV.


Mr. Brace served as the Chief Executive Officer and as a director of
 GlobeStar Mining Corporation ("GlobeStar"), formerly a TSX listed company, until Perilya Limited completed its
 take-over of GlobeStar in December 2010. Mr. Brace was previously
 employed as Executive Vice President of Business Development at Aur
 Resources Inc. ("Aur").


Mr. Guimaraes is a Chartered Accountant who held progressive management
 positions with Aur between 1995 and 2007, ultimately serving as
 Executive Vice-President, Finance and Chief Financial Officer of Aur
 until December 2007. Aur was acquired by Teck Resources Limited in
 August 2007.  Since 2007, Mr. Guimaraes has worked as a consultant to
 the resources industry and is currently a director of Nuinsco Resources
 Limited, Aldridge Minerals Inc. and Giyani Gold Corp.


Mr. Ciccarelli founded Globestar and served as Chairman of the board of
 directors and a member of the Technical and Environment, Health and
 Safety Committee from 2002 until its take-over in 2010. Mr. Ciccarelli
 is also the Vice President of Karr Securities Inc., a private
 investment firm which holds 35.5% of all of the issued and outstanding
 shares of Karmin.


Mr. Faucher served as a director of GlobeStar from July 2005 until its
 take-over in 2010. As a director of GlobeStar, he was a member of the
 Audit Committee, Compensation Committee, Corporate Governance and
 Nominating Committee and the Technical and Environment, Health and
 Safety Committee. Mr. Faucher acted as the Chief Executive Officer of
 Canadian Royalties Inc., a TSX listed company, from 2005 to 2008 and
 held management positions in several mining companies including
 President and General Manager of Falconbridge Dominicana, S.A. from
 1992 to 1994. He presently sits on the board of various companies and
 is responsible for business development at Neomet Technologies.


Mr. Ortslan currently serves as a director of a number of public
 companies, including Plexmar Resources Inc. and Silvermet Inc., both
 TSXV listed companies.  Mr. Ortlsan served as a director of GlobeStar
 from October 2004 until its take-over in 2010. As a director of
 GlobeStar, he was a member of the Audit Committee, Compensation
 Committee, Corporate Governance and Nominating Committee and the
 Technical and Environment, Health and Safety Committee.  Mr. Ortslan
 has been the Managing Director of TSO & Associates, an independent
 mining research firm, since 1995 and has had various positions as a
 mining engineer and a financial mining analyst with national and
 international investment dealers.


Karmin also announced today the resignations of Robert Ciccarelli, A.
 Douglas McCallum and Matthew Manson from the Board of Directors of
 Karmin.


The new directors have appointed Mr. Faucher, Mr. Orstlan and Mr.
 Guimaraes to the Audit Committee, with Mr. Guimaraes serving as chair
 of the committee.


Mr. Faucher, Mr. Ciccarelli and Mr. Ortslan have been appointed to the
 Corporate Governance Committee.  Mr. Ortslan will serve as chair of the
 committee.


The mandate of the newly comprised Board of Directors will be to pursue
 various strategic transactions in order for Karmin to achieve its
 corporate objectives.


As a sign of each of the new directors commitment to the success of
 Karmin, each of the new directors intends to participate in a
 non-brokered private placement of shares of Karmin, details of which
 will be announced in due course.


About Karmin


The common shares of Karmin are listed on the TSXV and trade under the
 symbol "KAR". The principal business of Karmin is to acquire and
 explore resource properties. Karmin's main project is located at
 Aripuanã, Brazil. Karmin owns 30% of the Aripuanã zinc project, one of
 the largest undeveloped zinc projects in Brazil. Aripuanã covers a
 complete mineralized massive sulphide district, with five areas of
 mineralization (Arex, Ambrex, Babacu, Massaranduba and Mocoto) over a
 25 kilometre strike length. Karmin also owns 100% of the Aripuanã
 gold-silver project which includes the gold and silver mineralization
 associated with the near surface oxidized portions of the massive
 sulphide deposits.


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table cellspacing="0" valign="top" border="0" tr valign="top" td align="left" David Bracebr/ Chief Executive Officerbr/ Email: a href="mailto:[e-mail]"[e-mail]/abr/ Tel: [phone] /td td   /td td   /td td align="right" or /td td   /td td   /td td align="left" John Iannozzibr/ Chief Financial Officerbr/ Email: a href="mailto:[e-mail]"[e-mail]/abr/ Tel: [phone] /td /tr /table p   /p 

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