TORONTO, June 3, 2013 /CNW/ - Guyana Goldfields Inc. ("GGI" or "the Company") (TSX: GUY) is pleased to announce that the Board of Directors have appointed Mr.
Scott Caldwell as the new President and Chief Executive Officer ("CEO")
of the Company, effective immediately. Former CEO, Patrick Sheridan Jr,
will become Executive Chairman of the Board of Directors.
Executive Chairman, Patrick Sheridan, states, "Having Scott as President
and CEO of the Company completes another step in our plan towards
developing the Aurora Gold Project. His operations background will
ensure proper execution of the day to day demands and I have absolutely
every confidence he will excel as he takes the reins to help steer the
company to its next level of success."
Mr. Caldwell has been a Director of GGI since June 2012 and will be
relocating to the head office in Toronto for the President & CEO role.
He is a mining engineer with more than 30 years of experience building
and operating gold and base metal mines worldwide, including USA,
Canada, Russia, Zimbabwe, Chile, and Indonesia. He was until recently
the President, CEO and Director of Allied Nevada Gold Corp. ("Allied
Nevada") for over six years. While under Mr. Caldwell's tenure, the
company grew from a handful of employees in 2006 to approximately 600
employees in 2013. Allied Nevada's Hycroft gold mine was
re-commissioned and achieved commercial production in 2009.
Prior to 2006, Mr. Caldwell worked in various capacities at Kinross Gold
Corporation ("Kinross"), including Executive Vice President & COO and
Director from 2002 - 2006. During this time he was directly responsible
for activities associated with the operation and development of various
open pit and underground mines located throughout the world.
Prior to joining Kinross, Mr. Caldwell served as the Vice President of
Operations for Echo Bay Mines where he was responsible for the
operation and development of mines in Canada and the United States. Mr.
Caldwell also spent a number of years working in Indonesia for PT
Freeport Indonesia Company where he was a key member of the development
and operating team for the Grasberg Mine, DOZ Mine and GBT Mine.
Mr. Scott Caldwell states, "I am very excited to be joining the GGI
management team and continuing to advance the development of the world
class Aurora Gold Project. I am confident that upon completion of
commissioning the mine in 2015, we will have one of the world's lowest
cost and efficient mines in operation."
Mr. Caldwell sits on the Board of Directors of Atacama Pacific Gold
Corporation. He holds a Bachelor of Science (Mining) degree in
Engineering from the University of Arizona.
About Guyana Goldfields Inc.:
Guyana Goldfields Inc. is a Canadian based company, focused on the
exploration and development of gold deposits in Guyana, South America
where the Company has operated since 1996. The Company is focused on
bringing the Aurora Gold Project into production with infrastructure
development currently underway. Active exploration continues at Aurora
and at the Company's Aranka Group of Properties with the intention of
further expanding these resources. Greenfields exploration by our
experienced team of geologists is ongoing in the broader Aranka group
of properties. As at the date hereof, the Company has approximately
C$122 million in cash and cash equivalent and no debt; there are
approximately 126,125,149 shares issued and outstanding.
This news release contains "forward-looking information". Often, but not
always, forward-looking statements can be identified by the use of
words and phrases such as "plans," "expects," "is expected," "budget,"
"scheduled," "estimates," "forecasts," "intends," "anticipates," or
"believes" or variations (including negative variations) of such words
and phrases, or state that certain actions, events or results "may,"
"could," "would," "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made and are based on
SOURCE: Guyana Goldfields Inc.
For further information:
Guyana Goldfields Inc.
President and CEO
Vice President, Investor Relations & Corporate Communications
Tel: (416) 628-5936 Ext. 2295
Fax: (416) 628-5935