TORONTO, Jan. 5 /CNW/ - Wesdome Gold Mines Ltd. ("Wesdome") is pleased to announce that the Board of Directors has appointed Donovan Pollitt, Wesdome's Vice President, Corporate Development as President and Chief Executive Officer.
Wesdome Chairman, Brian Northgrave said, "Donovan worked closely with Rolly Uloth over the past two years and is familiar with all aspects of our operations."
Donovan Pollitt is a Professional Engineer in Ontario and holds a BASc. in Mining Engineering from the University of Toronto. As VP Corporate Development, Mr. Pollitt has been working on mergers, financings and increased market visibility at Wesdome. Mr. Pollitt has been a Director of Wesdome since 2006.
"Wesdome has excelled over the past two years by delivering strong operating results, continued exploration success and impressive earnings per share," said Pollitt. "Continuing in this direction will be my main focus as CEO. Rolly Uloth successfully led Wesdome through a transition period and deserves much credit for the great results obtained in the year just ended. By a wide margin, 2009 was the best year in the Company's history, ending with over $30 million cash and gold in the bank and two well-established mines. Strong management is in place at both operations and prospects are encouraging going forward."
Wesdome is an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec. Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.0 million ounces. The Company has 100.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE Wesdome Gold Mines Ltd.
For further information: For further information: Donovan Pollitt, P.Eng., President, 8 King St. East, Suite 1305, Toronto, ON, M5C 1B5, Toll Free: 1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax: (416) 360-7620, Email: firstname.lastname@example.org, Website: www.wesdome.com