Redstar Gold Corporation Announces Management and Board Changes
March 25 2014 - 6:59AM
Access Wire
VANCOUVER, BC / ACCESSWIRE / March 25, 2014 / Redstar Gold
Corp. (TSX.V:RGC)("Redstar" or "the Company") The Board of
Directors of Redstar Gold Corporation is pleased to announce that
Ken Booth is joining the Board of Directors and will be acting as
interim President & CEO with immediate effect. Mr. Booth holds
a B.Sc. degree in Geology and an MBA. He began his career as a
geologist for companies such as Falconbridge, Anaconda and Minnova.
Subsequently Mr. Booth embarked on a career in Banking and
Investment Banking at Scotia Bank, BMO Capital Markets and, lastly,
RBC Capital Markets. Since 1998 Mr. Booth has been the CEO of
several public companies and is currently a director of: El Tigre
Silver; Angkor Gold; Invenio Resources, and; Gitennes
Exploration.
The Board of Directors also announced today that R. Bob Singh is
stepping down as President, Chief Executive Officer and member of
the Board of Directors. Bob has accepted to remain as the
Geological consultant to the Company and Advisor to the Board of
Directors.
"We are enormously thankful for Bob's efforts to lead Redstar
Gold forward during the past two and half years during a time when
the company underwent enormous change" said Jacques Vaillancourt,
Chairman of the Board.
The board of directors has begun a formal search for a permanent
President and CEO.
About Redstar Gold Corporation
The Unga Project in south western Alaska consists of two
properties acquired by Redstar in 2011: the Unga-Popof and Shumagin
properties. The 100% owned Shumagin property hosts a historic (non
43-101 compliant) resource estimate of 254,000 tonnes grading 27.4
g/t gold and 127 g/t silver (SRK Consulting, 2000). The resource
was based on shallow drilling in the late 1980's that was within
about 150m of surface. A qualified person has not done sufficient
work to classify the historical estimate as current mineral
resources, the Company is not treating the historical estimate as
current mineral resources and the historical estimate should not be
relied upon.
The property also hosts the three past producing mines from the
Apollo-Sitka high-grade gold vein system which produced approx.
150,000 oz. of gold from oxide ore in the early 20th century. The
mine produced from a 2km structure, which extends for at least
another 7km. and remains open on trend and at depth.
Redstar Gold also holds 50% of the Newman Todd Project in Red
Lake Ontario. Newman Todd, currently optioned to Confederation
Minerals (TSX.V:CFM), is a high grade gold discovery in the
mineralization along a 1.8Km corridor within the Newman Todd
Structure ("NTS"). The gold mineralization in the NTS remains open
along strike and at depth. Additionally, the company has 10
properties in Nevada which it has optioned out to a partner upon
which it has retained royalties and additional economic rights.
Andrea Diakow, P.Geo. is a qualified person as defined by
National Instrument 43-101 and has reviewed this news release.
On Behalf of the Board,
Redstar Gold Corp.
Ken Booth and Jacques Vaillancourt
Interim President and CEO Executive Chairman
Tel.: +1.604.488.0051 Tel.: +44.7.802.268.247
Email.: ken.booth@redstargold.com Email:
Jacques.vaillancourt@redstargold.com
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|TSX.V:RGC |CORPORATE INQUIRIES |
|WWW.REDSTARGOLD.COM |Redstar Gold Corp. |
|SUITE 615 |Tel: 604.488.0051 |
|800 WEST PENDER STREET| |
|VANCOUVER, BC | info@redstargold.com|
|TEL: 604.488.0051 | |
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Forward-Looking Information This release includes certain
statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical
facts, that address events or developments that Redstar Gold
Corporation (the "Company") expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
SOURCE: Redstar Gold Corp.
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