Stock Symbol: SGF: TSX
SASKATOON, June 25 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development, announces that Pieter Du Plessis, Vice President of Exploration, has resigned from Shore to pursue new opportunities in the uranium industry. For the past five years Mr. Du Plessis has successfully led the Shore technical team in the evaluation of the Fort a la Corne kimberlites, specifically, in the prefeasibility study and reserve estimate on the Star and Orion South Kimberlites. Mr. Du Plessis has meticulously assembled rigorous datasets which will ultimately be used to arrive at a production decision. The Management and Board of Directors acknowledge Mr. Du Plessis' valuable contribution to Shore's Projects and their evaluation and extend best wishes to him as he pursues new challenges.
The exploration work on the Star - Orion South Diamond Project is essentially complete and the Company has moved into its next phase of desktop analysis and the detailed work required to enable it to make a production decision. The Vice President of Exploration position will remain vacant until such time as exploration work recommences on the diamond bearing kimberlites of the Fort a la Corne region to the north of Star and Orion South. This will most likely occur after a production decision has been made on the Star - Orion South Diamond Project. The scope of work is in place that will lead the Company to a production decision, which is anticipated early in 2011. This work will be completed by the Shore technical team, assisted by a number of independent consultants. Senior Vice President of Exploration and Development, George Read, will oversee this work.
Senior Vice President Exploration and Development, George Read, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, is Shore's Qualified Person responsible for the verification and quality assurance of analytical results. Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans constitute forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the timing of a production decision on the Star-Orion South Diamond Project and the recommencement of exploration work on kimberlites in the area.
All forward-looking statements and information are based on Shore's current beliefs as well as assumptions made by and information currently available to Shore concerning anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments in world diamond markets, changes in diamond valuations, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners, the effects of competition in the markets in which Shore operates, the impact of changes in the laws and regulations regulating mining exploration and development, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A and short form prospectus, and Shore's anticipation of and success in managing the foregoing risks.
Shore cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Shore, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise required by applicable securities legislation, Shore does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Shore or on our behalf.
SOURCE Shore Gold Inc.
For further information: For further information: Joseph Dickson, Manager, Investor Relations at (306) 667-3505