TSX-V: GEL
NZAX: GEL
TORONTO, June 20 /CNW/ - Glass Earth Gold Limited (TSXV: GEL; NZAX: GEL), ("Glass Earth") today announced that, subject to TSX Venture Exchange approval, has retained CHF Investor Relations (Cavalcanti Hume Funfer Inc.), Canada's only IR firm whose management team's combined experience possesses more than 80 years covering brokerage, trading, financial analysis, and investment sales, over and above their work in IR.
Simon Henderson, President and CEO of Glass Earth, commented, "Our Company has benefited from the strong support from several institutional investors and we thank them. The considerable progress made on our projects and the activity on the horizon, however, warrant a broader audience for Glass Earth. CHF Investor Relations' comprehensive outreach program will help us bring the Glass Earth story to the attention of brokers who specialize in emerging mining companies like ours."
Effective immediately, CHF will provide comprehensive investor relations services for an initial period of twelve months. After June 14, 2009, services may continue on an open-ended basis whereby cancellation by either party requires three months' notice. CHF will be paid a monthly fee of $6,000 plus allowable disbursements. Additionally, subject to regulatory approval, Glass Earth has agreed to grant incentive stock options to CHF in the amount of 1,200,000 at $0.15 granted immediately upon engagement, vesting quarterly over 12 months, expiring in five years time from the grant date.
About CHF Investor Relations
CHF's effective role is acting as a public company's outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX/Venture-listed companies and others seeking to list on North American Exchanges, that operate in a broad range of industries including high-tech, industrial and business solutions, niche financial products, oil & gas, mining exploration and producers, telecommunications, and "green" companies. The depth of capital market experience is formidable dating back to the late 1970's. When all the years are combined the firm boasts well over eight decades of experience which is unrivalled by any other IR firm in Canada. CHF's head office is in Toronto, with another Canadian office in Calgary; as well as branch offices in New York, USA; Sao Paulo, Brazil; and Shanghai, China.
Qualified Persons
Glass Earth's exploration programmes are carried out under the supervision of Glass Earth's President and CEO, Mr. Simon Henderson, M.Sc, M.AUSIMM, F.SEG. Mr. Henderson meets the qualified person requirements (as defined by National Instrument 43-101) with more than 30 years of experience in the gold mining and exploration industry.
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 produced more than
43,000 ounces of gold;
- Central Volcanic Region - Glass Earth has defined a number of
epithermal gold targets in this region, including advanced prospects that
have completed 3D resistivity and are now being prioritised for drilling.
In the South Island, exploration efforts are focused on the Otago Region for mesothermal orogenic gold deposits, typified by the 7m oz Macraes gold mine in Otago (Oceanagold) and producing around 150,000 oz pa.
- Otago Region - A major data collection/geophysical survey over this
region was completed in August 2007. Subsequent detailed on-ground
evaluation has identified over 20 significant hard rock gold prospects;
drilling has commenced while prospecting will continue to bring forward
targets through the 2008-2009 exploration period.
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.