/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
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BRISBANE, Australia, April 16 /CNW/ - Australian Solomons Gold Limited
(TSX:SGA) ("ASG" or "the Company") announced today that Mr Ron Douglas, the
CEO of ASG, has resigned from his corporate position due to family and
personal matters. The Board of Directors wish to acknowledge the significant
contribution that Ron has made to ASG and the completion of the successful
Bankable Feasibility Study (refer separate announcement made today on the
results of the study).
The Company is pleased to announce the appointment of Mr John Bovard to
the role of CEO commencing April 23, 2007.
Mr Bovard is a civil engineer and has over 40 years experience in mining,
heavy construction, project development and corporate management. His career
has included roles as CEO of public companies and both executive and
non-executive directorships. He is well qualified, holds a Bachelor of Civil
Engineering, and is a Fellow of the Australian Institute of Mining and
Metallurgy and a Fellow of the Australian Institute of Company Directors.
Mr Bovard currently holds the position of Non-Executive Chairman with
Axiom Mining Ltd, a Hong Kong based company listed on the ASX with active gold
and copper exploration projects in Vietnam and Queensland. He was recently the
CEO of Asia Pacific Resources Ltd, a Canadian listed mining company,
developing large potash resource in Thailand. Prior to that, he was Managing
Director of the ASX publicly listed Danae Resources NL and a director of
Greenwich Resources plc listed on the LSE. He was previously the project
manager for the successfully completed A$800 million Queensland Fertilizer
Project for WMC Ltd.
Chairman of the Company, Stephen Everett, noted "John's vast experience
and world-wide knowledge of the mining industry will provide a significant
platform for the development of the Gold Ridge Project and the ongoing growth
of the Company".
ASG is developing the Gold Ridge Project, a former producing mine,
located on Guadalcanal in the Solomon Islands. The mine operated from
August 1998 to June 2000 and produced approximately 210,000 oz gold during
this period. ASG acquired the project in May 2005 and has recently completed a
Bankable Feasibility Study to redevelop the Gold Ridge Project, which is
expected to commence operations by Q2 of 2008.
The Toronto Stock Exchange has neither approved nor disapproved the
contents of this press release
Additional information is available on www.sedar.com and at the Company
website at www.solomonsgold.com.au
For further information:
For further information: ASG: David Roach, CFO, (617) 3624 9004
(office), or cell (61) 416 153 788, firstname.lastname@example.org; Please
note that the Head Office of ASG is located in Queensland, Australia and is 15
hours ahead of Toronto time; Investor Relations: Martti Kangas, (416) 815-0700
x 243, email@example.com; Michael Joyner, (416) 815-0700 x 275,
firstname.lastname@example.org; The Equicom Group, Toronto, Canada