DENVER, June 21 /CNW/ - Golden Star Resources Ltd. (AMEX: GSS)(TSX: GSC)
today named Mr. S. Mitchel Wasel as Vice President Exploration. Mr. Wasel will
replace Dr. Doug Jones, who will end his employment with Golden Star on August
31, 2007 to take up a position in Australia.
Mr. Wasel, a Canadian geologist, graduated from the University of Alberta
in 1988 with a BSc Honors degree in geology. Prior to joining Golden Star, Mr.
Wasel worked for several companies in northern Canada. He commenced his
employment with Golden Star in 1993, initially in our regional exploration
program for Suriname and then with the Gross Rosebel project now a mine
operated by IAMGold Corporation, where he progressed to the position of
Project Manager. In 1999, Mr. Wasel was transferred to Ghana to become our
country Exploration Manager and was instrumental in the establishment of
Golden Star's gold Mineral Reserves at Bogoso/Prestea, which grew over 12 fold
between 1999 and 2005. Since early 2006, Mr. Wasel has led our regional
exploration activities in West Africa focusing on the exploration of our
property holdings in Niger, Burkina Faso, Cote d'Ivoire and Sierra Leone.
Mr. Peter Bradford, President and CEO, said, "We wish Doug Jones all the
best in his new endeavors and welcome Mitch Wasel into this new role. With his
energy, extensive knowledge of our exploration property portfolio, and
understanding of the geological terranes in which we explore, we believe that
Mitch will deliver a renewed vision to guide our exploration efforts with the
goal of identifying the next development stage projects for Golden Star."
Golden Star's ongoing exploration activities are a combination of
brownfields programs along the Ashanti Trend near Bogoso/Prestea and
greenfields programs in West Africa and South America. Close to our mining
operations at Bogoso/Prestea, efforts continue to expand the underground
resources at Prestea both in the West Reef (current Indicated Mineral
Resources total 0.86 million tonnes grading 18.3 g/t gold and Inferred Mineral
Resources total 0.51 million tonnes grading 11.6 g/t gold) and in the shallow
Footwall Reef which may be decline accessible. Also in Ghana, Mr. Wasel and
his team had considerable success in 2006 in the continuing assessment of our
Hwini-Butre and Benso properties, located south of Wassa. During 2007, we
expect to test the strike and down dip extensions of these orebodies and to
commence testing some interesting gold-in-soil anomalies in this area.
Elsewhere in West Africa, our exploration group continues to explore the
Deba and Tialkam properties in Niger, where we expect to drill in the second
half of 2007, the Goulagou and Rounga properties in Burkina Faso, the Sonfon
and Pampana projects in Sierra Leone with our joint venture partner Mano River
Resources Inc., and is advancing early stage exploration programs on our
concessions in the Cote d'Ivoire.
In South America, we continue to work on the Saramacca property with our
joint venture partner, Newmont Mining Corporation, and continue to explore in
both French Guiana and Brazil.
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa
open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in
the currently inactive Prestea Underground mine and various other property
interests in Ghana, as well as gold exploration interests elsewhere in West
Africa and in the Guiana Shield of South America. Golden Star has
approximately 233 million common shares outstanding.
Cautionary Note to U.S. Investors concerning estimates of Measured and
Indicated Mineral Resources: U.S. investors are advised that while the terms
"measured mineral resources" and "indicated mineral resources" are recognized
and required by Canadian regulations, the U.S. Securities and Exchange
Commission does not recognize them. U.S. investors are cautioned not to assume
that any part or all of the mineral deposits in these categories will ever be
converted into reserves.
Cautionary Note to U.S. Investors concerning estimates of Inferred
Mineral Resources: U.S. investors are advised that while the term "inferred
mineral resources" is recognized and required by Canadian regulations, the
U.S. Securities and Exchange Commission does not recognize it. "Inferred
mineral resources" have a great amount of uncertainty as to their existence,
and great uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an inferred mineral resource will ever be
upgraded to a higher category. Under Canadian rules estimates of inferred
mineral resources could not form the basis of feasibility or other economic
studies. U.S. investors are cautioned not to assume that part or all of the
inferred mineral resource exists, or is economically or legally mineable.
For further information:
For further information: Golden Star Resources Ltd. Bruce Higson-Smith,
+1-800-553-8436 Vice President Corporate Development or Anne Hite,
+1-800-553-8436 Investor Relations Manager