/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 27 /CNW/ - (TSX:SGA) Australian Solomons Gold Limited
("ASG" or the "Company") is pleased to announce that it has appointed John
Bovard as a Director of the Company. Mr Bovard's specific mandate is to assist
with Government relations in the Solomon Islands and matters of Corporate
Mr Bovard was previously CEO of Australian Solomons Gold Limited. He is a
Fellow of the Australian Institute of Company Directors and has held a number
of recent Directorships in resources companies including Non-Executive
Chairman of Axiom Mining Ltd, a resources CEO and Director of Asia Pacific
Resources Ltd, a Canadian listed mining company, Managing Director 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.
Mr Zimi Meka will step down from the Board due to business commitments in
his role as Managing Director of the Australian Listed company Ausenco Limited
(ASX:AAX). Chairman of the company, Stephen Everett said, "on behalf of the
Board of Directors, we would like to acknowledge the significant contribution
Mr Meka has made to the Company since it was founded in June 2004."
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 210,000oz gold during this
period. ASG acquired the project in May 2005 and has completed a Feasibility
Study to redevelop the Gold Ridge Project which is expected to commence
operations by Q2 of 2009.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this
press release relative to markets for ASG's trends in resources, recoveries,
production and anticipated expense levels, as well as other statements about
anticipated future events or results constitute forward-looking statements.
Forward-looking statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate", "expect"
and "intend" and statements that an event or result "may", "will", "should",
"could" or "might" occur or be achieved and other similar expressions.
Forward-looking statements are subject to business and economic risks and
uncertainties and other factors that could cause actual results of operations
to differ materially from those contained in the forward-looking statements.
Forward-looking statements are based on estimates and opinions of management
at the date the statements are made. Some of these risks, uncertainties and
other factors are described under the heading "Risk Factors" in the Company's
annual information form available on www.sedar.com. ASG does not undertake any
obligation to update forward-looking statements even if circumstances or
management's estimates or opinions should change. Investors should not place
undue reliance on forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the
contents of this press release
Please note that the Head Office of ASG is located in Queensland,
Australia and is 15 hours ahead of Toronto time.
For further information:
For further information: ASG: John Blake, Chief Executive Officer,
Phone: (617) 3624-9000, Email: John.Blake@solomonsgold.com.au; Investor
Relations: Rebecca Greco, ASG's Investor Relations Manager - Toronto, Canada,
Phone: (416) 839-8610, Email: Rebecca.Greco@solomonsgold.com.au; Martti
Kangas, The Equicom Group, Toronto, Canada, Phone: (416) 815-0700 x 243,
Email: firstname.lastname@example.org; Michael Joyner, The Equicom Group, Toronto,
Canada, Phone: (416) 815-0700 x 275, Email: email@example.com