Trading Symbol: ADA:TSX; C2Z-Frankfurt
Shares Outstanding: 491,691,616
HALIFAX, Feb. 8 /CNW/ - Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Corporation") announced that, effective February 5, 2010, Joseph Gutnick, President and CEO of Legend International Holdings, Inc. ("Legend") and Golden River Resources Corporation ("Golden River"), resigned as a director and as executive chairman of the Corporation. Mr. Gutnick advised the Corporation that his other business commitments prevent him from being able to devote sufficient time to the Corporation's affairs at this time. Peter Lee, Chief Financial Officer and Secretary of Legend, and a Director, Chief Financial Officer and Secretary of Golden River, was appointed to the board to fill the vacancy created by Mr. Gutnick's resignation. Mr. Lee has over 25 years of experience in the accounting, company secretarial and commercial fields in both Australia and North America.
Acadian is a Halifax, Nova Scotia, Canada based mining company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Corporation also owns a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance. Acadian is actively exploring and developing its gold, zinc-lead, and barite properties in Atlantic Canada. Acadian holds a 29.18% interest in Royal Roads Corp. (RRO-TSX-V), which is actively exploring in Newfoundland and Labrador with a current focus on the historic Buchans Camp.
Forward Looking Statement
Certain information regarding Acadian contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Acadian believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian's control, and that future events and results may vary substantially from what Acadian currently foresees. Discussion of the various factors that may affect future results is contained in Acadian's Annual Information Form dated March 31, 2009, which is available at www.sedar.com. Acadian's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
For additional information on Acadian's properties and activities, please visit our web site at www.acadianmining.com.
No regulatory authority has approved or disapproved the contents of this release.
SOURCE Acadian Mining Corporation
For further information: For further information: G. William Felderhof, President & CEO; Terry F. Coughlan, Vice President, (902) 444-7779, 877-444-7774, firstname.lastname@example.org