TSX-V: GEL
NZAX: GEL
TORONTO, May 20 /CNW/ - Glass Earth Gold Limited (TSXV-GEL) ("Glass Earth or the Company") wishes to announce the following changes to its executive team:
- Mr Simon Henderson has been appointed as President and CEO.
Mr Henderson has occupied the roles of COO and VP Exploration since
the listing of the Company as a New Zealand based gold explorer in
March 2005. Mr Henderson is a founding shareholder of Glass Earth
(New Zealand) Limited and holds an MSc from the University of
Tasmania, a BSc (Hons) from Victoria University and is a member of
the AusIMM. He is a geologist with over 30 years experience in the
gold mining and exploration industry. Mr Henderson resides in
Wellington, New Zealand.
- Mr John Dow has been appointed as the non-executive Chairman.
Mr Dow has been a Non-Executive Director of the Company since March
2006. Mr Dow is a geologist with 40 years international experience.
After joining Newmont Australia in 1978 he held senior executive
positions in Newmont culminating in him being appointed as Chairman
and Managing Director of Newmont Australia (previously Normandy
Mining Limited) in April 2002. Subsequent to his retirement in 2005,
he has accepted several independent directorships.
- Mr Glenn Laing has resigned as President and CEO.
Mr Laing was part of the team that listed Glass Earth in 2005. Glass
Earth has now reached a stage in the development of its strategy and
operations that a full time New Zealand based CEO and President is
necessary to take the Company to the next level.
Mr Dow, Chairman of Glass Earth said: "We are pleased that Simon Henderson has agreed to combine his operational role with that of the CEO and President. These changes, together with the excellent mix of skills within the Board of directors, will assist Simon to shape the future of our business."
About Glass Earth Gold Limited
Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a land position of over 27,000 square kilometres in the North and South Islands.
In the North Island, exploration efforts are focused on the Hauraki/Central Volcanic Region. The Hauraki/Central Volcanic Region is host to the 10 million ounce gold Waihi/Martha Mine, owned by Newmont Mining, which is considered the "type" epithermal gold deposit and the kind of large epithermal gold system targeted by Glass Earth.
- Hauraki Region - With advanced gold prospects, this region occupies a
significant ground position around the Waihi/Martha Mine; Newmont has
commenced earning into the Glass Earth permits via two Joint Ventures:
the Waihi West permit, immediately adjacent to the Waihi/Martha Mine; and
the surrounding Hauraki Region permits.
- Mamaku Region - With recently-defined gold targets, this region
includes the Muirs Reef prospect, which historically has produced more
than 43,000 ounces of gold;
- Central Volcanic Region - Glass Earth has defined a number of
epithermal gold targets in this region.
In the South Island, exploration efforts are focused on the Otago Region for mesothermal "Macraes-style" gold targets and alluvial gold.
- Otago Region - A major data collection/geophysical survey over this
region was completed in August 2007. It is being followed by a targeting
process to identify priority areas of gold potential for detailed
on-ground evaluation (which commenced in November 2007). Drilling is
anticipated in the 2nd quarter 2008.
Glass Earth Gold Limited, with its main operational office in Wellington, New Zealand; field offices in Rotorua (North Island) and Dunedin (Otago, South Island) and corporate office in Toronto, Canada; is listed on the TSX Venture Exchange (TSX.V: GEL) and the New Zealand Alternative Stock Exchange (NZAX: GEL).
Neither the TSX Venture Exchange nor New Zealand Exchange Limited has
reviewed this release and neither accepts responsibility for the adequacy
or accuracy of this release.