Redstar Gold Corporation Announces Management and Board Changes
Vancouver, BC / TNW-ACCESSWIRE / March 25th, 2014 Redstar Gold Corp. (TSX.V:RGC) ("Redstar" or "the Company")The Board of Directors of Redstar Gold Corp. is pleased to announce that Ken Booth is joining the Board of Directors and will be acting as interim President & CEO with immediate effect. Mr. Booth holds a B.Sc. degree in Geology and an MBA. He began his career as a geologist for companies such as Falconbridge, Anaconda and Minnova. Subsequently Mr. Booth embarked on a career in Banking and Investment Banking at Scotia Bank, BMO Capital Markets and, lastly, RBC Capital Markets. Since 1998 Mr. Booth has been the CEO of several public companies and is currently a director of: El Tigre Silver; Angkor Gold; Invenio Resources, and; Gitennes Exploration.
The Board of Directors also announced today that R. Bob Singh is stepping down as President, Chief Executive Officer and member of the Board of Directors. Bob has accepted to remain as the Geological consultant to the Company and Advisor to the Board of Directors.
"We are enormously thankful for Bob's efforts to lead Redstar Gold forward during the past two and half years during a time when the company underwent enormous change" said Jacques Vaillancourt, Chairman of the Board.
The board of directors has begun a formal search for a permanent President and CEO.
About Redstar Gold Corporation
The Unga Project in south western Alaska consists of two properties acquired by Redstar in 2011: the Unga-Popof and Shumagin properties. The 100% owned Shumagin property hosts a historic (non 43-101 compliant) resource estimate of 254,000 tonnes grading 27.4 g/t gold and 127 g/t silver (SRK Consulting, 2000). The resource was based on shallow drilling in the late 1980's that was within about 150m of surface. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
The property also hosts the three past producing mines from the Apollo-Sitka high-grade gold vein system which produced approx. 150,000 oz. of gold from oxide ore in the early 20th century. The mine produced from a 2km structure, which extends for at least another 7km. and remains open on trend and at depth.
Redstar Gold also holds 50% of the Newman Todd Project in Red Lake Ontario. Newman Todd, currently optioned to Confederation Minerals (TSX.V:CFM), is a high grade gold discovery in the
mineralization along a 1.8Km corridor within the Newman Todd Structure ("NTS"). The gold mineralization in the NTS remains open along strike and at depth. Additionally, the company has 10 properties in Nevada which it has optioned out to a partner upon which it has retained royalties and additional economic rights.
Andrea Diakow, P.Geo. is a qualified person as defined by National Instrument 43-101 and has reviewed this news release.
On Behalf of the Board,
Ken BoothJacques Vaillancourt
Interim President and CEO Executive Chairman
Tel.: +1.604.488.0051 Tel.: +44.7.802.268.247
Email.: ken.booth@redstargold.com Email: Jacques.vaillancourt@redstargold.com
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|TSX.V:RGC |CORPORATE INQUIRIES |
|WWW.REDSTARGOLD.COM |Redstar Gold Corp. |
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Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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