Trading Symbol: TSX-V: IG
CALGARY, Nov. 24 /CNW/ - Infinito Gold Ltd. (the "Company") is pleased to announce the appointment of Mr. Larry Shelley to its board of directors. Mr. Shelley was recently appointed President and Chief Executive officer of Coril Holdings Ltd. which is the parent company of Exploram Enterprises Ltd., the majority shareholder of the Company. Mr Shelley has an extensive background in domestic and international business, previously being a Principal and Vice President Finance and CFO of a major mining and environmental engineering firm.
In addition, the Company is pleased to announce that effective October 1, 2009, Mr. Brian Orgnero, has joined the organization in the capacity of Chief Financial Officer. Mr. Orgnero is a Chartered Accountant with 14 years post designation experience working in publicly traded corporations with operations in both North and South America, primarily in the energy services industry.
The Company wishes to announce that the Vista, requested by the Constitutional Court of Costa Rica ("SALA IV") previously announced on October 27, 2009 was convened on November 12, 2009. The Vista was extended to the morning of November 13, 2009 with an additional two and one-half hour session held November 17, 2009. The Company is currently awaiting the decision of the SALA IV regarding the status of its permits and approvals as they pertain to recommencement of construction and development of the Company's Crucitas gold project.
The Company's Costa Rican counsel has advised the Company that according to Costa Rican law, the SALA IV will make a decision within 30 days following the date of the Vista. While the Company can not predict the decision of the SALA IV, the Company has consistently maintained that all approvals and permits were applied for and received in compliance with the relevant regulations and laws.
Caution Regarding Forward-Looking Information and Statements
Certain statements in this press release address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These factors include, among others, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the possibility that all necessary governmental and regulatory approvals will not be received, and the availability of a qualified workforce and third party contractors necessary for the development and operation of a mine. The Company undertakes no obligation to update these forward-looking information or statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking information or statements.
INFINITO GOLD LTD.
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
SOURCE Infinito Gold Ltd.
For further information: For further information: INFINITO GOLD LTD., 216, 102 - 8th Avenue S.W., Calgary, Alberta, T2P 1B3, Telephone: (403) 444-5191