Stock Symbol: SGF: TSX
SASKATOON, May 14, 2012 /CNW/ - Kenneth MacNeill, President and CEO of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce that the Company's Board of Directors has appointed Mr. Brian Menell as Chairman of the Board. Mr. Menell joined the Company's Board of Directors on March 7, 2003.
Mr. Menell is a principal and the CEO of the Kemet Group. Kemet is a group of private companies which invest in and manage a range of mining and other natural resource projects across Sub-Saharan Africa. Mr. Menell has over 25 years of senior level management experience in the diamond exploration, mining and marketing industries. He is a former executive of the De Beers Group having held various executive positions in Antwerp, London, Namibia and South Africa across the mining, rough market management and diamond trading divisions of the company. Following his eight years with the De Beers Group, he returned to his family controlled Anglovaal Group were he was a principal and Executive Director of Anglovaal Mining (AVMIN - listed in Johannesburg and London) until his exit from Anglovaal in 2001 to create much of what is now African Rainbow Minerals, South Africa's largest listed empowerment controlled mining company. Anglovaal's operations ranged from Precious Metals (AVGOLD, Two Rivers Platinum) to Base Metals (Prieska Copper, Nkomati Nickel) and Ferrous Metals (ASSMANG). Through Anglovaal, he was also the 50 percent partner of De Beers in the Venetia Mine, South Africa's largest diamond mine. He managed the sale of the company's interest in Venetia to De Beers for $600m. This remains De Beers' largest single acquisition in their history. Since disposing of the controlling interest in Anglovaal, Mr. Menell's African project development portfolio has included a number of diamond exploration and mining ventures, including the development of the Koidu Kimberlite Diamond Mines in Sierra Leone.
President and CEO, Kenneth MacNeill, states: "Brian's extensive experience in the diamond industry is a great asset to Shore and we look forward to his leadership of the Board of Directors. Mr. Menell assumes this position at a pivotal time in the diamond industry and the Company's evolution from an exploration company to a potential world-class diamond producer. Shore is presently focused on the completion of the Environmental Impact Statement and the permitting of the Star - Orion South Diamond Project, while simultaneously pursuing development capital."
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".
For further information:
Joseph Dickson, Investor Relations Manager at (306) 667-3505 and www.shoregold.com