TORONTO, ONTARIO -- (Marketwired) -- 06/27/13 -- SAVARY GOLD CORP. ("Savary" or the "Company") (TSX VENTURE: SCA) announces the appointments of Mr. Gregory Duras as Chief Financial Officer, Ms. Brianna Davies as Corporate Secretary and the appointment of Mr. Michael McAllister as Manager, Investor Relations, effective as of June 01, 2013.
Mr. Duras is a professional accountant with significant experience in the resource sector having worked as Chief Financial Officer for various publicly traded companies including Avion Gold Corp. which had mining operations in Mali and Burkina Faso in West Africa. Previously held positions include Vice President of Finance and Administration at S.C. Rosia Montana Gold Corporation S.A. (RMGC), a mineral exploration and mining development company based in Romania and a number of senior finance roles, including Controller of TSX-listed Gabriel Resources Ltd. and High River Gold Mines Ltd. Mr. Duras is a Certified General Accountant and a Certified Professional Accountant, and holds a Bachelor of Administration from Lakehead University.
Ms. Davies is a corporate securities lawyer with a broad range of international experience, including in West Africa. Since October 2007, Ms. Davies has worked as a legal consultant to various publicly traded companies in the resource sector and prior to this Ms. Davies practiced law at a major Canadian law firm. Ms. Davies holds a Juris Doctor from the University of Toronto and an Honours B.A in Economics from McMaster University.
Mr. McAllister is a specialized investor relations manager, who joined the mining sector in June, 2010. He has worked for companies such as Avion Gold Corp, which was sold to Endeavour Mining in October 2012. Prior to that Mr. McAllister worked at BMO Capital Markets in the Investment and Corporate Banking Group in Metals & Mining. Mr. McAllister's appointment is effective June 1, 2013 and will include remuneration in the amount of $1,500 per month for his services to the Company.
"I am pleased to welcome Greg, Brianna and Michael to the Savary management team," stated Charles Mostert, Savary Gold's President and CEO. "The breadth of experience and versatility that they bring to Savary will be invaluable to the Company as we prepare for our next phase of exploration on Hounde South."
The appointments follow the resignations of Carlo Valente as Chief Financial Officer, Sheila Paine as assistant corporate secretary, Jim Crawford as VP, Business Development and Craig Mackay as VP technical services. The Company would like to thank Messrs Valente, Crawford, Mackay and Ms. Paine for their contributions and wish them well in their future endeavours.
The Company also announces that it has granted a total of 1,650,000 stock options to various directors, officers and consultants of the Company, including options granted to the new management appointees. The options have an exercise price of $0.10 and shall expire five years from the date of grant. The options shall vest immediately, with the exception of Mr. McAllister's grant of 125,000 options that shall vest over a period of 12 months in four equal installments with the first installment vesting three months from the date of grant, subject to a four month regulatory hold period. The grant of options remains subject to regulatory approval.
About Savary Gold
Savary Gold is a Canadian company with a tightly held capital structure and focused on exploring the Hounde South Gold Property in Burkina Faso. The property is in the Birimian age Hounde Greenstone Belt, which hosts Semafo's Mana mine and additional gold deposits which are presently subject to extensive exploration efforts (including Endeavour Mining's Hounde Project and Sarama's South Hounde Project). For additional information please visit our website at www.savarygold.com and follow us on Facebook or Twitter @SavaryGold.
SAVARY GOLD CORP.
On behalf of the Board
Charles Mostert, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements or information relate to, among other things, the next phase of the Company's exploration program and the exploration potential of the Company's properties. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with exploration; fluctuations in gold and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and other risks and uncertainties, including those described in the Company's most recent Management Discussion & Analysis report filed with the Canadian Securities Administrators and available at www.sedar.com. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Savary Gold Corp.
Manager, Investor Relations
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