Press Release
May 10, 2001
SAN DIEGO, CA -- International Thunderbird Gaming Corporation (TSE - INB) is pleased to announce that Jorge Montano
has agreed to stand for election as a Director at the Annual and Special Meeting of Shareholders, June 12, 2001.
Mr. Montano was the Mexican Ambassador to the United States from 1993 to 1995, during which time the North American
Free Trade Agreement was negotiated and signed. Most recently, Mr. Montano founded a private consulting firm providing
valuable services for businesses and investors in Mexico and Latin America. Mr. Montano was formerly a Partner
of TCW-Latin America Equity Partners, an investment fund set up for Argentina, Brazil and Mexico. Mr. Montano was
also Editor of Foreign Affairs en Espanol, a journal published by ITAM and the New Council on Foreign Relations.
Standing for re-election to the Board will be Jack Mitchell, Albert Atallah, Aquilino de la Guardia, and Alex Winch.
Mr. Montano's diverse background and ties to Latin America will certainly have a positive impact on the board
Thunderbird is pleased to announce that it has received municipal permitting for a fourth skill game facility in
Mexico, in the City of Puebla. Renovation is expected to commence May 13th, and opening is expected within 120
days with 100 to 125 skill machines. Thunderbird is also pleased to announce that it has signed a lease for a fifth
Mexican location in Guadalajara. Renovation is expected to commence within two weeks, and opening is expected within
120 days with 150 machines. The previously announced third location, in Reynosa, is expected to open on or before
August 1, 2001.
Thunderbird is pleased to announce that it has entered into a Memorandum of Understanding with Grupo de Empresas
Aguasal (``GEA'') setting forth the terms and conditions for the construction, installation and operation of a
casino adjacent to Hotel Fiesta Inn in Higuerote, Venezuela. Higuerote is 90 minutes by car, 15 minutes by private
airplane, from Caracas, and is the closest city to Caracas in Venezuela to have the requirements in place for a
full casino. Under the terms of the MOU Thunderbird will construct an approximate 800 square meter building on
land leased from GEA. Thunderbird will have the right to expand the facility to 1,500 square meters should market
conditions justify such an expansion. The term of the land lease shall be 10 years, renewable for an additional
ten years. Hotel Fiesta Inn will commence renovations to upgrade the facility to five-star status. The Fiesta Casino
Higuerote is expected to open in 2002.
International Thunderbird Gaming Corporation is an owner and manager of international gaming facilities. Additional
information about the Company is available on its World Wide Web site at www.thunderbirdgaming.com.
On behalf of the Board of Directors,
Jack R. Mitchell, President and CEO
Cautionary Notice: This release contains certain forward-looking statements within the meaning of section 21E of
the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical
fact, included herein, including without limitation, statements regarding potential revenue and future plans and
objectives of the Company are forward-looking statements that involve risk and uncertainties. There can be no assurances
that such statements will prove to be accurate and actual results could differ materially from those anticipated
in such statements. Important factors that could cause actual results to differ materially from the Company's forward-looking
statements include competitive pressures, unfavorable changes in regulatory structures, and general risks associated
with business, all of which are disclosed under the heading ``Risk Factors'' and elsewhere in the Company's documents
filed from time-to-time with the TSE and other regulatory authorities. International Thunderbird - Press Release#01-02-27
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Contact:
International Thunderbird Gaming Corporation Alex Winch Investor Relations (416) 712-1488 or (858) 451-3637 Email: info@thunderbirdgaming.com Website: www.thunderbirdgaming.com