Jul. 25, 2011 (Canada NewsWire Group) --
Trading Symbol: WDG - (TSX.V)
VANCOUVER, July 25, 2011 /CNW/ - Giyani Gold Corp ("Giyani" or the "Company) announced today management changes including the appointment of Mr. Charles (Chuck) Allen as President of the Company and Mr. Bob Middleton as Vice President of Exploration. Both appointments are effective immediately. Mr. Allen will replace Mr. Alex Helmel, currently President and CEO of the Company. Mr. Helmel will remain a Director.
Mr. Duane Parnham, Executive Chairman of Giyani Gold, stated "We are delighted to announce that Mr. Allen and Mr. Middleton have agreed to join the management team of Giyani. These management changes represent a significant milestone for Giyani as we advance our business and corporate development initiatives. Mr. Allen and Mr. Middleton are experienced business professionals and significantly expand the managerial, financial and technical resources of Giyani. I would also like to thank Mr. Helmel for his dedication and service, and look forward to continue working with him as a Director of the Company."
Mr. Allen has a diverse background including experience as a senior executive, investment banker and finance/M&A lawyer. He has been involved in more than $5 billion of equity, debt and M&A transactions, and has been a Board member of a number of public companies. He has also worked internationally, in regions including, Central, Eastern and Western Europe, Canada and the U.S., Africa, the Caribbean and Central and South America. Mr. Allen was previously the President of a precious metals company with producing assets in southern Africa. During his tenure, Mr. Allen managed more than 1,000 employees and more than doubled revenues. Mr. Allen received his L.L.B. and a Bachelor of Education degree from the University of Alberta.
Mr. Middleton is a renowned geologist and geophysicist with more than 45 years of experience. Mr. Middleton completed his B.Sc. and M.Sc. degrees in applied geophysics at the Michigan Technological University. Of particular interest to Giyani, Bob spent a majority of his career working in the Timmins gold camp where as an officer and director of Rosario Resources Corporation he founded the Bell Creek mine, a major gold deposit located within the Hemlo camp of Ontario. Rosario also at the time placed the Purblo Viejo located in the Dominica Republic into production, now controlled by Barrick Gold. He has worked with major mining companies including Newmont Exploration of Canada as well as multiple junior companies as a consultant and member of the management team. This includes experience with Canplats Resources Corp. that was recently sold to Goldcorp Inc. Mr. Middleton has led numerous drill programs resulting in major discoveries, completed multiple feasibility studies, and worked on international assignments spanning North America, Central America, South America, Africa and Europe.
Mr. Duane Parnham, Executive Chairman of Giyani was additionally quoted, "We continue to work diligently with the South African Department of Mineral Resources to close the acquisition of the Giyani assets. With these appointments, we are further poised to proceed with our goal of defining a world class resource and creating sustainable net benefits for all project stakeholders."
The Company further announces that it has granted a total of 325,000 options in connection with this appointment. Each option is exercisable at $2.31 per common share with an expiry date of July 25, 2016.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
On behalf of the Board of
Giyani Gold Corp.,
"Duane Parnham"
Duane Parnham,
Chairman
This news release contains forward-looking statements regarding the future success of the business of the Company that is subject to risk and uncertainties. Examples of such forward-looking statements including, but are not limited to, statements concerning the Company's acquisition of the interest in the Giyani Gold Project, expectations concerning timing and success of exploration activities generally, government regulation of exploration and mining operations, indications and benefits of exploration, drilling test work and engineering assessments, environmental risks, title disputes or claims, and the Company's intention to raise additional capital and financing. These forward-looking statements involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. These risks include risks related to whether or not the Company will complete the South African transaction, dependence on key personnel, competition, risks related to newly acquired businesses, uncertainty and dilution of additional financing and ability to service debt, as well as the risk factors described in the Company's Management Discussion and Analysis filed on SEDAR at www.sedar.com, and the risks to be described in any Management Information Circular. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
please contact Alexander Helmel 604-676-4133.