CALGARY, Feb. 26 /CNW/ - John J. Komarnicki, Chairman and Chief Executive
Officer of Alhambra Resources Ltd. (TSX-V: ALH) ("Alhambra" or the
"Corporation"), on behalf of the Board of Directors, is pleased to announce
the appointment of Mr. Richard K. Gorton as a Director of the Corporation
effective February 25, 2008.
Mr. Gorton has 38 years of experience in the international mining
industry including South Africa, Australia and North America. He is a
Professional Geologist holding a Master's degree in Geology from the
University of Cape Town.
Mr. Gorton has been involved in the areas of exploration, operations and
From 1973 to 1986, Mr. Gorton worked for Newmont South Africa Ltd.,
directing the Company's exploration activities in the search for gold, base
metals, diamonds and uranium. During this time, Mr. Gorton was involved in the
early discovery stages of the Gamsberg zinc deposit for the O'okiep Copper
Company in Namaqualand, South Africa. Early stage gold, base metal, diamond
and uranium discoveries were made during this time.
From 1986 to 1990, Mr. Gorton held the position of Chief Geologist at the
Telfer Gold Mine in Western Australia. From 1990 to 1994, Mr. Gorton became
Great Basin Exploration Manager and later Director, Exploration North America.
From 1994 to 2005, Mr. Gorton became Director of Exploration and Business
Development for Newmont Mining Corporation. He was awarded the Chairman's
Award in 1996 for the successful acquisition and development of the True North
gold deposit in Alaska.
Mr. Gorton retired in 2005 but continued as a consultant to Newmont. In
2005, Mr. Gorton also co-founded BWG Mining which applies supervised Neural
Network technology to multiple exploration data sets targeting new
Mr. Komarnicki commented saying, "Mr. Gorton has achieved much in his
career. We welcome Richard into our organization and look forward to his
leadership and expertise in the mining sector."
Alhambra also announces the granting of a stock option to Mr. Gorton, to
purchase up to 200,000 common shares of the Corporation. Such stock option
shall have an exercise price of C$1.15 per common share, shall have a term of
three years from the date of grant, and shall vest as to
twenty-five percent(25%) immediately and thereafter as to twenty-five percent
(25%) on dates which are six (6) months, twelve (12) months and eighteen (18)
months from the date of grant.
Alhambra is a Canadian based gold exploration and production corporation
engaged in the exploration of and production from its 100% owned, 2.7 million
acre Uzboy Project. Alhambra is currently in its sixth year of operations in
the Republic of Kazakhstan, commencing commercial gold production in May 2006.
Alhambra common shares trade on The TSX Venture Exchange under the symbol
ALH and in Germany on the Frankfurt Open Market under the symbol A4Y. The
Corporation's website can be accessed at www.alhambraresources.com.
The TSX Venture Exchange Inc. has neither approved nor disapproved the
information contained herein.
This news release contains statements about expected or anticipated
results that are forward looking in nature and, as a result, are subject to
certain risks and uncertainties, such as technical issues, new legislation,
competitive and general economic factors and conditions, uncertainties
resulting from potential delays, changes in plans, the occurrence of
unexpected events and the Corporation's capability to execute and implement
its future plans. Actual results may differ materially from those projected by
management. For such statements, we claim the safe harbor for future.
For further information:
For further information: Ihor P. Wasylkiw, Chief Information Officer,
(403) 508-4953; Jim Clarke, Investor Relations, 1-888-290-1335 (Toll Free)