Why CMBV.PK? ----> Gold, Cambodia is undiscovered... DD Inside
Cambodian Ventures Limited
(Pink Sheets: CMBV)
www.cambodianventures.com
Cambodia Headquarters United States Headquarters
#16 Street 556 Sangat Boeung Kak I, Khan Toul, 111 Chelmsford Street
Phnom Penh, Cambodia Lowell, MA 01852
Tel: (011) 855-129-23577 Tel: (617) 799-6912
Executive Summary
Cambodian Ventures mission is the exploration and mining of precious minerals in
Cambodia. Based on work by the French, most geologists agree that there is great potential
for abundant mineral resources. Although artisanal reserves have been found, the country
has not been developed for large scale precious metal extraction because of internal conflict
and war for the last forty years. Although Cambodia has evolved in the past decade from a
fragmented society to a stable regime, friendly to foreign investment, the country has not
yet attracted a rush of mineral investors. The recent up-swing in metal prices, notably gold
and copper, is causing increased activity in traditional exploration areas. As the most
attractive prospects are acquired, and fewer become available, it will be natural for the
international mining community to seek opportunities in less traditional countries such as
Cambodia. In the particular case of Cambodia, an almost complete lack of modern
exploration should translate into enormous potential. Cambodian Ventures intends to be at
the forefront of this exploration and development. By obtaining licenses before large scale
reserves are proved, we intend to capitalize on these underdeveloped mineral deposits
thereby producing extraordinary returns for investors.
Background
Cambodian Ventures Limited (CMBV) was founded in 1995 to explore business opportunities
in the Kingdom of Cambodia. Originally, the company was focused on developing
hydroelectric generation opportunities within the country, but in June 2004, a new
management team joined the company to focus on the exploration of precious minerals. The
new management has significant business experience within Cambodia, primarily in mineral
exploration.
Gary Fineberg, the CEO of CMBV, has been living and working in the region for over 30
years. He has strong family ties in the region and has been involved in various business
ventures over the years. From 1996 to 2000, he was the Vice President of Brewer Natural
Resources, a company that performed significant exploration operations in the Rattanakari
area of Cambodia. Gary was responsible for government relations and security for the
company. Brewer Natural Resources ceased exploration operations in Cambodia in 2002 due
to personal problems of the CEO.
Gary, however, continued very close relations with Cambodia’s current government. While in
Cambodia with Brewer Natural Resources, Gary, along with other members of CMBV’s
management team, founded the Cambodian Educational Foundation (CEF), an “NGO” (Nongovernment
Organization) in Cambodia. The foundation has offices in the US and Cambodia
and has raised a substantial amount of money to fund private schools in Cambodia. These
schools teach Cambodian children English and vocational skills. This has brought the group
considerable goodwill from the government and the people of Cambodian.
Gary’s work with CEF has kept him actively involved with the Cambodian government, and
these involvements lead him back to pursue mineral exploration and mining opportunities
within Cambodia.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 4
Cambodian Ventures Limited - Mission
Cambodian Ventures mission is to obtain under the prevailing mining laws of the Kingdom of
Cambodian, licenses for the exploration and mining of precious minerals in Cambodia.
Cambodian Ventures intends to carry out exploration activities in regions containing gold and
other precious minerals in Cambodia.
Cambodian Ventures is seeking projects that contain or have the potential to contain high
grades and large tonnage of gold and other precious minerals, as well as projects that
contain the potential for mineralization concealed under post-mineral cover. Cambodian
Ventures' goal is to apply rigorous geological methodology to analyze the potential of its
opportunities in incremental steps, investing small amounts of capital in each step in order to
increase the probability of success in each successive phase of exploration. There are several
high-potential sites in Cambodia where we could apply our methodology.
Cambodia's evolution from a fragmented society towards a stable regime, friendly to foreign
investment, has not yet paid dividends in the form of a rush of potential mineral investors.
The recent up-swing in metal prices, notably gold and copper, is causing increased activity in
traditional exploration areas. As the most attractive prospects are acquired, and fewer
become available, it will be natural for the international mining community to seek
opportunities in less traditional countries such as Cambodia. In the particular case of
Cambodia, an almost complete lack of modern exploration should translate into enormous
potential.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 5
Background on the Kingdom of Cambodia
Cambodia is a developing country with a market economy. The Constitutional Monarchy
was reestablished after more than 20 years of civil war and communist rule in 1993. The
current coalition government was sworn in on November 30, 1998 with Hun Sen, of the
Cambodian People’s Party, as Prime Minister. Prince Norodom Ranariddh, leader of the
FUNCINPEC party is president of the National Assembly. The government has pledged to
devote its full energies to accelerating economic development in Cambodia through the
implementation of an ambitious economic and political reform program. Bilateral and
multilateral support and closely monitor the government’s reform program. The IMF, the
World Bank and the Asian Development Bank are all active in Cambodia.
Kingdom of Cambodia, with its rich variety of natural resources (fertile soil favorable for
agriculture, good tropical forests, and minerals), and abundant labor force, offers foreign
investors many possibilities for producing or processing a wide range of local products,
including, but not limited to wood furniture, paper, canned vegetables and fruits,
precious stones and other minerals, clothes and footwear, etc. The Mekong River and its
many tributaries have vast potentials as sources of hydro-electric power which, once
harnessed, will supply abundant energy for industrial and commercial development and
household use. Recent successful petroleum and gas discoveries off its coasts enhance
Cambodia's attractiveness both to foreign and local investors. The possibility of fast
economic growth and sustained, rational, and environmentally sound development is
very high.
The process of peace and national reconciliation set in motion by the Paris Peace
Agreement on October 23, 1991, has fundamentally changed the overall situation of
Cambodia. Assisted by the international community, a free, fair, and democratic election
was held in May 1993, and led to the adoption of a new constitution, the establishment of
the National Assembly, and the formation of the Royal Government of Cambodia.
Cambodia is now a full-fledged democratic society respecting the principles of a freemarket
economic system.
With a strong motivation to expand economically, the Cambodian Government has taken
steps to encourage investments. Cambodia's National Assembly passed the "Law on
Investment of the Kingdom of Cambodia" on August 4, 1994. With the implementation of
the new investment law, which includes some of the best business incentives in South
East Asia, Cambodia is on the right road aimed at economic growth and development.
Significant gaps in the nation’s legal and institutional frameworks limit business
confidence in Cambodia, but there are opportunities for U.S. exporters and investors. The
Cambodian government currently offers a generous package of incentives to foreign
investors and imposes few restrictions on imports from abroad. Cambodia enjoys Normal
Trade Relations and GSP benefits from the United States and many other trading
partners. Cambodia is a member of ASEAN and on track to join the ASEAN Free Trade
Area. Cambodia is also in the process of applying for accession to the WTO.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 6
Rational for Mining and Exploration Activities in Cambodia
Cambodia is the least developed country in the ASEAN region for mineral exploration and
mining
• Based on work by the French, most Geologists agree that there is great
potential for abundant mineral resources. However, there has not been much
exploration or development due to internal conflict and war for the last forty
years. An almost complete lack of modern exploration should translate into
enormous potential for mineral exploration and mining
• Mining Laws in Cambodia are favorable for foreign investors. Cambodian
government allows 100% ownership by foreign investors and takes only 3% of
sales amount for royalties. Furthermore, the sales prices can be adjusted
between buyer and seller and is not strictly controlled by governmental
supervision. Such regulations give foreign investors the potential to generate
higher profit margins from mining than other countries in the region. In
addition, the government grants exploration licenses for a period 6 years and
exploitation licenses for a period of 30 years.
• The Government of Cambodia has stabilized significantly in the last several
years and is actively courting mineral exploration and exploitation activities.
They recognize the potential of significant income for the country
• Cambodia received most favored nation status from the United States in
October 1996. Generalized system of preferences was granted by the U.S. and
came into effect on August 1, 1997
• The Agreement for Agreement on Trade Relations and Intellectual Property
Rights Protection was signed between the Royal Government of Cambodia and
the United States was signed in October 1996
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 7
Precious Mineralization in Cambodia
The UN and Cambodian Department of Mineral Resources reports on mineral occurrences
show a few mineral occurrences, mostly gold, in the region. The descriptions of these
mineral occurrences is very general and obviously limited to areas of artisanal mining
Given the general state of mineral development within the country the lack of mineral
occurrences may be due to that lack of rigorous exploration rather than the absence of
mineralization. Several geologists have suggested that Cambodia does have significant
mineral potential that is not yet fully understood or recognized.
The French were exploring and mining minerals in Cambodia until the early 1960’s and
there are significant regional geosciences data deposited with the Bureau de Recherches
Geologiques et Miniere ("BRGM") in Orlean, France. Based on a review of this data, most
Geologists believe that the country contains strategically located mineral belts having
excellent potential for gold and copper mineralization. This mineralization has been
introduced to the rocks through mechanisms which are not understood at this time, but
which can be clarified through the process of site visits and systematic follow-up
exploration.
Cambodia's evolution from a fragmented society towards a stable regime friendly to
foreign investment has not yet paid dividends in the form of a rush of potential mineral
investors. The recent up-swing in metal prices, notably gold and copper, is causing
increased activity in traditional exploration areas. As the most attractive prospects are
acquired, and fewer become available, it will be natural for the international mining
community to seek opportunities in less traditional countries, such as Cambodia. In the
particular case of Cambodia, an almost complete lack of modern exploration should
translate into enormous potential.
Gold
Gold has been sought and won in Cambodia since historic times, as attested by a large
number of old workings. Organized prospecting and mining for gold began the late
nineteenth century, presumably by French engineers and geologists working during the
colonial regime.
With one exception, Bo Sup Trup, discoveries have all been small and of the scale
suitable only for artisanal mining by local populations. There are a large number of
occurrences and therefore there is optimism for future discoveries and developments of
commercial scale.
Gold prospects and alluvial workings are found in three main regions of the country: the
northwest (Oddar Meanchey or Siem Reap province), north central areas (notably in
Preah Vihear province), and in the northeast (Rattanakiri province). Other more isolated
occurrences are also known.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 8
Silver
There appear to be no native sources of exclusively silver ores in Cambodia,
notwithstanding the well known production of chased and embossed silver handicraft
work, one of the specialties of local craftsmanship
Silver occurrences have been reported in association with the Bo Sup Trup gold deposit,
the Phnom Kambor (Phnom Bar) gold occurrence, and also with the Sam Rong group of
sulfide mineral occurrences in Kompong Speu province, where argentiferous galena is
reported at Phnom Thmar Prak. More recently, press reports in 1991 have indicated the
discovery of silver occurrences by the Department of Geology and Mines of Cambodia in
the areas of the Kchol massif (western Kompong Chhnang province) and near Siem Reap
province.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 9
Cambodian Regional Geology – Potential for Precious
Mineralization
The widespread distribution of high-grade mineralization, anecdotally observed,
indicates that there are, possibly, considerable amounts of precious and other types of
metals introduced to various areas of Cambodia. Little is understood of the local geology,
and so gaining such an understanding is therefore a necessary first step of the
exploration process.
Rocks of late Precambrian age (greater than 700 million years old) are present near the
Vietnam border in northeastern Cambodia. These rocks consist of folded and deformed
metamorphic rocks as well as granites and migmatites of geologic provinces that have
been well described in Vietnam. The most recent geologic mapping in Cambodia was that
completed by the BRGM in 1967, published as 1:200,000 map sheets in 1972. This
mapping was primarily reconnaissance in nature, relying heavily on aerial photographic
interpretation which was handicapped by the relative paucity of outcrops in the region.
It appears to be currently accepted that poorly-dated rocks of Paleozoic age (about 570
to 230 million years old) form the bedrock over large areas of eastern Cambodia. The
BRGM maps show large areas of Triassic sedimentary rock (230 to about 190 million
years old) throughout the region. However, when geologists have visited a few areas
it has become obvious that many areas interpreted to be Triassic were actually granitic to
monzo-granite
Based on the greater degree of study of mineral deposits in Vietnam it appears that the
Indosinian Orogeny (an era of mountain building and intense structural activity) was not
only a defining event of Indochina’s geological history, it was also the last major thermal
period of metal deposition in the region (thermal events are important in the deposition
of mineral deposits). As a result an understanding of the Indosinian Orogeny and its
metallogeny (the relation of metal deposits to events that can cause metals to be
deposited in certain areas) is important to assessing the economic mineral potential of
the region.
The Indosinian Orogeny, with its deformation, metamorphism (changing the nature of
rocks through heat and pressure), and intrusive igneous activity, occurred over a long
period lasting from the Carboniferous to the mid-Jurassic (about 180 to 70 million years
ago). Pre-Indosinian rocks are metamorphosed, folded and intruded by igneous rocks.
Post-Indosinian rocks are relatively flat lying, mostly unmetamorphosed and
metallogenically unproductive. This orogeny created a vast mountain belt extending from
Laos through Central Thailand, eastward across north-central Cambodia, across Vietnam
and into the Eastern Sea which is now completely eroded away. Sub-belts of this orogeny
extended in a northwest-southeast direction from Thailand, across western Cambodia
and ending in southernmost Vietnam and another across northern Vietnam. This orogeny
obscured the original character of all of the preceding rocks with the result that it is
essentially impossible to decipher the Pre-Indosinian geologic history of Cambodia. The
younger rocks in the region include the relatively flat lying Triassic sedimentary rocks
(shales, sandstones and greywackes – a type of dirty sandstone) and Triassic volcanic
rocks (rhyolites, dacites, tuffs - various types of volcanic rocks).
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 10
Cambodian Ventures Limited – Methodology for Exploration
Since mineral exploration has in Cambodia has been “in limbo” for many years, CMBV
plans to utilize “state of the art” geological exploration methodology. The goal is to
determine, in the most capital efficient manner, the potential of each site, in carefully
planned stages of exploration. In most cases, it will involve the following initial tasks
before an evaluation of the sites can be made potential for production. The result of
completing these tasks will be the production of a report authored by a respected
Geologist that complies with the Canadian National Instrument 43-101 ("NI 43-101").
“NI 43-101” is the current Canadian regulation which governs the format and content for
technical reports to be filed as part of a public disclosure process. Although CMBV is not
publicly listed on a Canadian exchange, the NI 43-101 is generally accepted by investors
as credible documentation for making mining and exploration investments. The following
tasks will be performed by an internationally respected geologist or geological consulting
firm
Task 1: Compile all available data on each project area and development of a digital
elevation model using Landsat and/or Radar SAT imagery. It is anticipated
that there will be significant use of regional geosciences data deposited with
the Bureau de Recherches Geologiques et Miniere ("BRGM") in Orlean, France.
An assessment on assembled data will be made for each project based as
whether the site economically warrants proceeding to Task 2.
Task 2: Perform on-site geological mapping and sampling of the main prospects. Onsite
work will be performed to:
• identify the type of mineralization present;
• quantify the known mineralization in terms of the average precious
mineral content and the concentrations of associated (mineral)
commodities;
• estimate the size of the mineralized zones;
• estimate the extent of economically interesting mineralization within the
zone;
• estimate the mineral potential of each prospect; and,
• Determine what additional exploration is warranted to advance the
prospects towards the next stage of exploration.
Task 3: If warranted, prepare a formal report to Canadian National Instrument 43-10T
("NI 43-101") standards suitable for presentation or public disclosure
purposes. This report will be used to raise additional capital for exploration
and exploitation of each project if warranted.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 11
Exploration Projects under Consideration
CMBV is in various stages of evaluating 6 different sites for precious mineral exploration.
Five of six sites appear to have potential for gold mineralization. The sixth site appears to
have potential for platinum mineralization. Some of these sites being evaluated are
“working-interest” joint venture opportunities, where CMBV will become a “working –
interest” partner in an established exploration and exploitation license issued by the
Ministry of Industry, Mines, and Energy (Ministry) in the Kingdom of Cambodia. Other
sites being evaluated will require CMBV to apply to the Ministry directly for the
exploration and exploitation license. The application process for a mining and exploration
license in Cambodia is a two stage process. The first stage establishes a Memorandum of
Understanding (MOU) with the ministry. This MOU secures the area of interest for a given
time period, while a definitive “Exploration and Exploitation License” is negotiated with
the Ministry.
CMBV is in advanced stages of negotiation to acquire a majority working interest in one
of the potential gold sites mentioned above. This site has been evaluated by the potential
working interest partner and shows great promise. It is anticipated that the agreement
will be consummated prior to May 1, 2005
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 12
Management Team
Gary Fineberg, CEO & Director
Mr. Fineberg has been involved in Cambodia business ventures since 1996. His
experience in South East Asia dates back to the early 70's. Most recently Mr. Fineberg
was Vice President of a Cambodian gold mining company that was successful in obtaining
licenses to mine gold in the Kingdom of Cambodia.
Mr. Fineberg is also CEO of the Cambodian Educational Foundation, a Cambodian nongovernment
organization (NGO), which invests in the education of poor and at-risk
Cambodians. The Cambodian Education Foundation (C.E.F.) supports and sustains these
students in their schooling.
William West, Vice President of Operations & Director
Mr. West has been in the law enforcement and security industry since 1986. Mr.
West has provided for the security of high ranking government officials, military
personnel and businessmen during volatile times, which called for heightened security.
In the late 1990’s, William was the Director of Security for a gold mining company in
Cambodia, providing consultation for the day-to-day security and operational support for
field operations.
From 1986 to 1993 he served as a Security Control Center Operations Officer and
Technical Aide for Mitre Corporation, working with various intelligence agencies of the
United States government.
Mr. West is also the Vice President and Secretary of Cambodian Education Foundation,
Inc. (CEF). William was instrumental in CEF's being awarded U.S. 501 (3) (c) taxexempt
status and continues to dedicate substantial time to the organization on a daily
basis. Mr. West has a Master of Science in Law Enforcement from Western New England
College.
Mark Fineberg, CFO & Director
Most recently, Mark D. Fineberg worked as the Manager of Transportation Operations for
MAXIMUS Inc., a corporation that specializes in managing State and Federal contracts.
Mr. Fineberg managed the Transportation Authorization Department consisting of 20
employees, for the Massachusetts Medicaid Customer Service Center, which is under
contract with MAXIMUS Inc. He serves as liaison between the provider community,
transportation vendors, medical providers, clients, and advocates of Mass Health. During
Mr. Fineberg's ten-year tenure with MAXIMUS, he has held various supervisory and
management positions within the corporation. He has been responsible for managing
facilities which included the oversight of two extensive build-outs with a total cost in
excess of seven hundred thousand dollars. Mr. Fineberg served as Finance Manager in
which he was responsible for monthly financial forecasts, budgets, and monitored
purchases of services and equipment to stay within project budget. Mr. Fineberg
attended Suffolk University from 1978-1979 and North Shore Community College from
1998-1999. Mr. Fineberg is also the Chief Financial Officer for Cambodian Education
Foundation Inc.
Background Report on Cambodian Ventures Limited (Pinksheets:CMBV) Page 13
John Sharry, Director & Secretary
Mr. Sharry first became involved in Mining and Exploration when he became involved
with Brewer National Resource and Development in early 2000, which was focused on
Gold and Gem extraction Mr. Sharry has worked in the Security field since 1985. Most of
his career he worked as Physical Security Supervisor and Special Security Assistant at a
Federally Funded Federal Research Center. Mr. Sharry is also Operations Manager of the
Cambodian Education Foundation, Inc. (CEF)
Board of Advisors
Cambodian Ventures Limited will be announcing a number of high profile individuals that
will be joining our advisory board in the coming weeks. We are in discussions with well
known individuals involved in mining and exploration company management, as well as
respected geologists.
News 
Market Data 
Discover 
