HALIFAX, Sept. 24 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM and
AMEX: GRS) is pleased to announce that the Board of Directors (the "Board") has
appointed Rene Marion as Chief Executive Officer of Gammon effective
October 25, 2007 to replace Russell Barwick, who has stepped down as Chief
Executive Officer for personal family reasons but will remain a member of the
Board of Directors and Technical Advisor to management.
Fred George, President and Chairman of Gammon Gold stated, "We are
confident that Rene's skills and leadership will contribute to the success of
Gammon Gold and that we have assembled the right team to lead Gammon to the
next stage in becoming a world class gold and silver producer."
"I am excited to assume the role of CEO of Gammon Gold," says
Rene Marion, incoming Chief Executive Officer. "My decision to make such a
significant career change by leaving a senior role with a world class gold
producer, Barrick Gold, to lead Gammon Gold was based on the enormous
potential I see in Gammon's properties."
The Board is confident that Mr. Marion, who is a high profile executive
and mining engineer with extensive experience in planning and developing
mining operations with Barrick Gold, is more than qualified to continue the
progress made by Mr. Barwick in enhancing the Company's leadership team and
positioning the Company for future success.
Mr. Marion will assume his duties following a short transition period
with Mr. Barwick and will be based at Gammon's corporate head office in
Halifax, Nova Scotia. He brings over 22 years of mining experience to Gammon,
having most recently held the position of Regional Vice President, Barrick
Russia, Central Asia. For several years Rene also served as Barrick's
Qualified Person responsible for Barrick's global resources and reserves. His
background includes significant experience in mining operations, operational
and corporate management, mine engineering and was a key participant in
numerous global merger and acquisition evaluations and feasibility studies.
Mr. Marion has also developed strong relationships with industry analysts and
investors that will serve to strengthen the Company's contacts in the capital
markets. Mr. Marion holds a BSc Degree in Mining Engineering from Queens
University. At the time of his resignation to join Gammon, he was also
seconded as Chief Operating Officer of Highland Gold Mining Limited, a
publicly traded strategic partner of Barrick Gold.
"I am delighted that we were able to attract such a high caliber
executive to our Gammon team," says Russell Barwick, retiring Chief Executive
Officer. "Rene has the skills and experience that will allow us to continue to
develop Gammon into a world class mining company. While I am stepping down as
CEO to tend to personal matters that require much greater time at home in
Australia, as a Board member, Chair of the Sustainability, Environmental,
Health & Safety Committee and a Technical Advisor to management, I look
forward to supporting Rene and contributing to the continued growth of the
Mr. Marion will benefit from having access to a team of recently
recruited and highly skilled professionals to support his activities,
including David Keough (COO), Glenn Hynes (CFO) and a very robust operational
team in Mexico that has recently been significantly enhanced.
A conference call will be held on Monday, September 24, 2007 at 4:00 pm
Eastern Time (5:00 pm Atlantic Time) to discuss the appointment of Rene Marion
as Chief Executive Officer.
Participant Dial-In Number(s):
Local / International: 416-850-9144
North American Toll- Free: 1-866-400-3310
When the Operator answers, ask to be placed into the Gammon Gold
If you are unable to attend the conference call, a playback will be
available for 30 days immediately after the event by dialing 1-866-245-6755 or
416-915-1035 for calls from outside Canada and the US. Enter passcode 175232.
A link to the playback will also be posted on Gammon's website at
www.gammongold.com approximately two hours after the conference call.
About Gammon Gold
Gammon Gold Inc. is a Nova Scotia based mid-tier gold and silver producer
with properties in Mexico. The Company's flagship Ocampo Project in Chihuahua
State achieved commercial production in January 2007. Gammon Gold also
operates its El Cubo operation in Guanajuato State and has the promising
development Guadalupe y Calvo property in Chihuahua State. The company remains
Cautionary Note to US Investors - The United States Securities and
Exchange Commission permits US mining companies, in their filings with the
SEC, to disclose only those mineral deposits that a company can economically
and legally extract or produce. This press release uses certain terms, such as
"measured," "indicated," and "inferred" "resources," that the SEC guidelines
strictly prohibit US registered companies from including in their filings with
the SEC. US Investors are urged to consider closely the disclosure in Gammon
Gold's Annual Report on Form 40-F (File No. 001-31739), which may be secured
from Gammon Gold, or from the SEC's website at http://www.sec.gov/edgar.shtml.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
legislation. All statements other than statements of historical fact, included
in this release, including, without limitation, the positioning of the Company
for future success, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives of Gammon Gold,
are forward-looking statements (or forward-looking information) that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from Gammon
Gold's expectations include, among others, risks related to international
operations, the actual results of current exploration activities, conclusions
of economic evaluations and changes in project parameters as plans continue to
be refined as well as future prices of gold and silver, as well as those
factors discussed in the section entitled "Risk Factors" in Gammon Gold's Form
40-F and Annual Information Form as filed with the United States Securities
and Exchange Commission. Although Gammon Gold has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
There can be no assurance that such statements will prove to be accurate
as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Gammon Gold does not undertake to
update any forward-looking statements that are included herein, except in
accordance with applicable securities laws.
For further information:
For further information: www.gammongold.com; Russell Barwick, Chief
Executive Officer, Gammon Gold Inc., (902) 468-0614; Glenn Hynes, Chief
Financial Officer, Gammon Gold Inc., (902) 468-0614