May 6, 2011 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG)(the "Company") is announcing that Mr. John Archibald B.Sc. (Hons), P.Geo. is stepping down from the Board of Directors effective as at today's date. Mr. Archibald has agreed to remain as President and CEO of the Company until the expiry of his contract on May 17th, 2011. Mr. Archibald has agreed to act in an advisory capacity thereafter as interim President and CEO until such time as the Board of Directors has recruited a suitable candidate for that office. Mr. Archibald has made these decisions to support the Company's renewed focus on a "results driven" exploration program, with Mr. Archibald's focus as chief geologist and Qualified Person on the Company's projects.
The Company intends to retain the services of Mr. Archibald in the future as a geologist and as the Company's Qualified Person (as that term is defined in National Instrument 43-101) following his resignation from office. The Board of Directors believes that Mr. Archibald's knowledge, expertise and experience with the Company's land package make him an ideal candidate for this role. Terms and conditions of any such engagement will be negotiated between Mr. Archibald and Management, subject to review and approval of the Directors of the Company.
The Board of Directors wishes to thank Mr. Archibald for his service to the Company as a director over the past number of years.
About King's Bay Gold Corporation (TSXV:KBG)
King's Bay Gold Corporation is a very active Canadian mineral exploration and development company with mineral projects located in two of Canada's main gold camps - the Red Lake, ON and Rainy River, ON gold camps.
KBG Shares Outstanding: 85,036,913
King's Bay Gold Corporation
James Rogers
Chairman and Director
info@kingsbaygold.com
www.kingsbaygold.com
This news release includes certain forward-looking statements concerning the future performance of King's Bay Gold Corporation's business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking statements and readers are cautioned against placing undue reliance thereon.
Neither 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 release.
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