Vangold Announces Change to Board and Senior Management. John Robins, Michael Cooney and Bruce Counts Appointed
November 26 2012 - 09:14AM
Marketwired
Vangold Resources Ltd. ("Vangold" or the "Company") (TSX
VENTURE:VAL)(FRANKFURT:VR2) is pleased to announce that John Robins
has been appointed as Chairman of the Board and Bruce Counts has
been appointed as President and a member of the Board. In addition,
Michael Cooney has been appointed to the Board.
In conjunction with these appointments the Company has agreed to
complete a private placement of 3,525,000 units of the Company at
$0.115 per unit. Each unit consists of a share and one half of a
one-year share purchase warrant entitling the holder to purchase an
additional share at $0.25 per share.
Vangold has a 95% interest in three highly prospective gold
properties in Papua New Guinea: Allemata, Fergusson, and Mt. Penck.
The presence of gold has been drill confirmed on each of the
projects and planning for the 2013 drill programs are underway.
Dal Brynelsen, who remains as Chief Executive Officer, stated,
"I am absolutely delighted to have gentlemen of this calibre,
experience, and expertise assume senior positions with the Company.
We are looking forward to continuing with exploration and
development of Vangold's gold projects in Papua New Guinea. I am
confident that Bruce's past experience with the culture and customs
of Papua New Guinea, along with the technical and management
expertise of both John and Bruce, will be a true game-changer for
the Company."
"I am pleased to join Vangold's management team," commented
Bruce Counts. "The Projects assembled in the Company's portfolio
are exciting and I am eager to contribute to their
advancement."
John Robins
Mr. Robins is a Professional Geologist based in Vancouver, BC,
with over 25 years of experience as an independent mineral explorer
and entrepreneur. A 1984 graduate of the University of British
Columbia with a Bachelor of Science in Geology, Mr. Robins
initially worked as a self-employed prospector and geologist in BC
and Northern Canada. In 1988, he founded Hunter Exploration Group,
one of Canada's most successful private exploration companies. Mr.
Robins has also been active in starting several successful public
exploration and development companies culminating in 2011 when he
founded the Aurora Mineral Resource Group. His experience in
everything from grass roots exploration to production is
complemented by his success in the capital markets and financing
activities. Mr. Robins sits on the Boards of several successful
publicly traded exploration companies including Kaminak Gold
Corporation, Kivalliq.
Bruce Counts
Bruce Counts has been involved in the mineral exploration
industry for more than 25 years. Between 1992 and 1997 he was
employed by BHP Minerals Canada Ltd. and was an integral member of
the team responsible for the discovery and development of the Ekati
Diamond Mine(TM). In 1997 Bruce joined Dia Met Minerals Ltd. and
was senior consultant on their international portfolio of projects
until the sale of the company in 2001. Following this, Bruce
consulted to junior exploration companies until 2004, when he
became President and CEO of Bluestone Resources Inc. Bruce is also
founder and Director of West Melville Metals Inc. Bruce holds a
degree in Geological Engineering from the University of British
Columbia and is a Professional Geophysicist.
In addition to his experience in mineral exploration, Bruce also
has a unique background in Papua New Guinea having lived and spent
significant amounts of time in there over a 35 year period while
his parents conducted anthropological research. As such he is very
familiar with all aspects of Papua New Guinea life, culture,
customs and government and retains a number of active contacts in
that country.
Michael Cooney
Mr. Cooney has been Chairman of NEMI Northern Energy &
Mining Inc. since March 2009 after successfully leading a proxy
contest at NEMI's 2009 Annual General Meeting and CEO since May
2010. Prior to that, he was a private investor who worked for 15
years as an independent market maker on both the Pacific Options
Exchange in San Francisco and the Chicago Board Options Exchange.
He holds a BSc in Mechanical Engineering from University of
Michigan and a BA in Physics from Kalamazoo College in
Michigan.
In order to accommodate the new appointments, Michael Mackey has
resigned as a director but will remain as a consultant to the
Board. We thank him tremendously for his many years of service.
Douglas Hutchison P.Geo has resigned from the Board of Vangold.
Doug will become a director and officer of the wholly owned
operating subsidiary in Papua New Guinea, Vangold (PNG) Ltd. He
will remain as an active member of the team advancing the company's
projects in Papua New Guinea.
On Behalf of the Board of VANGOLD RESOURCES LTD.
Dal Brynelsen, CEO
Disclaimer for Forward-Looking Information
Statements containing forward-looking information express, as at
the date of this news release, the Company's plans, estimates,
forecasts, projections, expectations, or beliefs as to future
events or results and are believed to be reasonable based on
information currently available to the Company.
Forward-looking statements and information are based on
assumptions that financing and personnel will be available when
required and on reasonable terms, and all necessary regulatory
approvals and shareholder approval will be obtained, none of which
are assured and are subject to a number of other risks and
uncertainties.
There can be no assurance that forward-looking statements will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Readers
should not place undue reliance on forward-looking information.
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.
Contacts: Vangold Resources Ltd. Dal Brynelsen CEO 604-684-1974
604-685-5970 (FAX) www.vangold.ca