TORONTO, June 20 /CNW/ - Glass Earth Gold Limited (TSXV: GEL; NZAX: GEL),
("Glass Earth") today announced that, subject to TSX Venture Exchange
approval, has retained CHF Investor Relations (Cavalcanti Hume Funfer Inc.),
Canada's only IR firm whose management team's combined experience possesses
more than 80 years covering brokerage, trading, financial analysis, and
investment sales, over and above their work in IR.
Simon Henderson, President and CEO of Glass Earth, commented, "Our
Company has benefited from the strong support from several institutional
investors and we thank them. The considerable progress made on our projects
and the activity on the horizon, however, warrant a broader audience for Glass
Earth. CHF Investor Relations' comprehensive outreach program will help us
bring the Glass Earth story to the attention of brokers who specialize in
emerging mining companies like ours."
Effective immediately, CHF will provide comprehensive investor relations
services for an initial period of twelve months. After June 14, 2009, services
may continue on an open-ended basis whereby cancellation by either party
requires three months' notice. CHF will be paid a monthly fee of $6,000 plus
allowable disbursements. Additionally, subject to regulatory approval, Glass
Earth has agreed to grant incentive stock options to CHF in the amount of
1,200,000 at $0.15 granted immediately upon engagement, vesting quarterly over
12 months, expiring in five years time from the grant date.
About CHF Investor Relations
CHF's effective role is acting as a public company's outsourced, low-cost
equivalent to an internal investor relations department. CHF serves an
international portfolio of TSX/Venture-listed companies and others seeking to
list on North American Exchanges, that operate in a broad range of industries
including high-tech, industrial and business solutions, niche financial
products, oil & gas, mining exploration and producers, telecommunications, and
"green" companies. The depth of capital market experience is formidable dating
back to the late 1970's. When all the years are combined the firm boasts well
over eight decades of experience which is unrivalled by any other IR firm in
Canada. CHF's head office is in Toronto, with another Canadian office in
Calgary; as well as branch offices in New York, USA; Sao Paulo, Brazil; and
Glass Earth's exploration programmes are carried out under the
supervision of Glass Earth's President and CEO, Mr. Simon Henderson, M.Sc,
M.AUSIMM, F.SEG. Mr. Henderson meets the qualified person requirements (as
defined by National Instrument 43-101) with more than 30 years of experience
in the gold mining and exploration industry.
About Glass Earth Gold Limited
Glass Earth is one of the largest New Zealand-based gold exploration
companies exploring a land position of over 27,000 square kilometres in the
North and South Islands.
In the North Island, exploration efforts are focused on the Hauraki /
Central Volcanic Region. The Hauraki / Central Volcanic Region is host to the
10 million ounce gold Waihi / Martha Mine, owned by Newmont Mining, which is
considered the "type" epithermal gold deposit and the kind of large epithermal
gold system targeted by Glass Earth.
- Hauraki Region - With advanced gold prospects, this region occupies a
significant ground position around the Waihi / Martha Mine; Newmont has
commenced earning into the Glass Earth permits via two Joint Ventures:
the Waihi West permit, immediately adjacent to the Waihi / Martha Mine;
and the surrounding Hauraki Region permits.
- Mamaku Region - With recently-defined gold targets, this region
includes the Muirs Reef prospect, which historically produced more than
43,000 ounces of gold;
- Central Volcanic Region - Glass Earth has defined a number of
epithermal gold targets in this region, including advanced prospects that
have completed 3D resistivity and are now being prioritised for drilling.
In the South Island, exploration efforts are focused on the Otago Region
for mesothermal orogenic gold deposits, typified by the 7m oz Macraes gold
mine in Otago (Oceanagold) and producing around 150,000 oz pa.
- Otago Region - A major data collection/geophysical survey over this
region was completed in August 2007. Subsequent detailed on-ground
evaluation has identified over 20 significant hard rock gold prospects;
drilling has commenced while prospecting will continue to bring forward
targets through the 2008-2009 exploration period.
Glass Earth Gold Limited, with its main operational office in Wellington,
New Zealand; field offices in Rotorua (North Island) and Dunedin (Otago, South
Island) and corporate office in Toronto, Canada; is listed on the TSX Venture
Exchange (TSX.V: GEL) and the New Zealand Alternative Stock Exchange (NZAX:
Neither the TSX Venture Exchange nor New Zealand Exchange Limited has
reviewed this release and neither accepts responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Simon Henderson, President and Chief Executive
Officer at +64 4 903 4980, email - email@example.com; or Richard
Billingsley, non-executive director at (604) 868 2475; or Lindsay Carpenter,
Account Manager, CHF Investor Relations at (416) 868-1079 ext. 239, email
Lindsay@chfir.com; Visit the Company's website at www.glassearthlimited.com