Jun. 24, 2011 (TheNewswire.ca) --
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce the outcomes of the Annual General and Special Meeting of Shareholders that was held earlier today in Winnipeg, Manitoba. All of the resolutions presented to the shareholders in the Management Information Circular of May 16th, 2011 were ratified and / or approved. These resolutions included: (i) the re-election of James Rogers, Kyle Picard, Steve Filipovic and Rick Jabs as the Directors, the election of Robert Gagné and Peter Brooks as new Directors (both subject to the approval of the TSX Venture Exchange Inc.), (ii) the re-appointment of the Auditors and the authorization of the Directors to fix their remuneration, (iii) the approval of the comparative audited financial statements of the Corporation for the fiscal years of December 31st, 2010 and 2009, (iv) the approval by the disinterested shareholders of the Stock Option Plan originally approved by the directors of the Corporation on June 15th, 2004 and as amended by resolution of the directors of the Corporation on April 24th, 2009, and (v) change the registered office of the Corporation to Taylor McCaffrey LLP, 9th Floor - 400 St-Mary Avenue, Winnipeg, Manitoba, R3C 4K5, Attention: Corporate Records Department.
Appointment of an interim President & CEO
Subsequent to the Annual General and Special Meeting of Shareholders that was held today in Winnipeg, Manitoba, the Board of Directors is announcing the appointment of Kyle Picard as interim President & CEO. As announced in an earlier news release dated May 6th, 2011, John Archibald B.Sc. (Hons), P.Geo. had agreed to remain as President and CEO of the Company until the expiry of his contract on May 17th, 2011. Mr. Archibald had also agreed to act in an advisory capacity thereafter as interim President and CEO until such time as the Board of Directors had recruited a candidate for that office. Given that Mr. Picard is being appointed as the interim President & CEO, the Board of Directors will be continuing in its search to find a suitable candidate to fill this important position on a permanent basis.
Kyle Picard
Mr. Picard is one of the founding members of the Board of Directors of Mainstream Minerals Corporation (TSXV:MJO) (OOTC:MSMCF) (TSX.V: MJO). Since July 2006, Mr. Picard has acquired experience in a variety of positions with that company as Corporate Secretary and as Chairman of the Audit and Compensation Committees. Kyle is a Director of Accolade Resources Corporation (a private company based in Winnipeg, MB) and was a founding shareholder of Palomino Mining & Exploration Ltd (a private company based in Winnipeg, MB involved in the Headway property with King's Bay Gold Corporation (TSXV:KBG) ). He is also a Director with the Saint-Boniface General Hospital Auxiliary Inc. Kyle earned a Commerce Industry diploma with Red River Community College in Winnipeg, MB and is a manager in the telecommunications industry.
Election of two new Directors
Robert Gagné
Mr. Gagné serves as the Information Services and Information Security Manager for a publicly traded biotech company. He is a Certified Information Security Manager (CISM) and a Certified Information Systems Security Professional (CISSP). Mr. Gagné is responsible for overseeing and coordinating all technology initiatives for mission-critical manufacturing, clinical, research and administrative functions. His expertise is in strategic planning, IT governance and information security. He has been in the IT industry for over 17 years and owns his own Information Services and Information Security consulting business where he has provided services to companies in the mining, manufacturing, financial and marketing industries.
Peter Brooks
Mr. Brooks is a Winnipeg businessman specializing in the acquisition and restructuring of existing businesses. He is the founder and president of Brooks Tools Ltd. Mr. Brooks is a licensed pilot, an aircraft owner and operator (wheels, floats, day, night, ultra-light vfr-ott) and is also a heavy equipment owner and operator (proficient on most types). More importantly, Mr. Brooks brings with him 15 years of mining industry and mineral exploration experience including: (i) iron mining and lab preparation and analyses, (ii) nickel underground mining, milling, lab preparation and analyses, (iii) coal mining and plant processing, (iv) surface preparation for exploration, (v) mine commissioning and initial startup, (vi) new technology process integration, and (vii) land reclamation.
Directors, Officers and Board Committee Members going forward
As a result of all of these changes subsequent to the Annual General and Special Meeting of Shareholders of June 24th, 2011, the following is a comprehensive list of the Corporation's Directors, Officers and Board Committee Members:
James Rogers P.Geo., CIM - Director, Chairman of the Board, Audit Committee (independent member), Compensation Committee (independent member)
Kyle Picard - Director, President & CEO (interim appointment), Corporate Secretary, Audit Committee (non-independent member), Compensation Committee (non-independent member)
Ray Préfontaine B.A., B.Comm. (Hons.) - Chief Financial Officer
Rick Jabs - Director, Audit Committee (Chairman, independent member), Compensation Commmittee (Chairman, independent member)
Steve Filopovic B.Comm. (Hons.), CA - Director
Robert Gagné CISM, CISSP - Director (subject to the approval of the TSX Venture Exchange Inc.)
Peter Brooks - Director (subject to the approval of the TSX Venture Exchange Inc.)
About King's Bay Gold Corporation
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: 85,126,913
King's Bay Gold Corporation
James Rogers
Chairman & 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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