Kilo Goldmines Ltd.: Appointment of New Director
TORONTO, ONTARIO -- (Marketwire) -- 01/03/12 -- Kilo Goldmines Ltd. (TSX VENTURE: KGL)(FRANKFURT: 02K) ('Kilo' or the 'Company') is today pleased to announce that, subject to regulatory approval, it has appointed Jim Williams to the board of directors. Mr. Williams fills the vacancy on the board created by the resignation of Klaus Eckhof who has stepped down from the board to free up time for his other business activities. The Company would like to recognize and thank Mr. Eckhof for the significant contributions he made to the Company during his tenure as both as a director and officer, including his service as the Company's Chief Executive Officer.
Jim Williams is a United Kingdom resident and is a co-founder and President and Chief Executive Officer of Arian Silver Corporation ('Arian'), a public silver exploration, development and production company listed on London's AIM and the TSX Venture Exchange (AGQ), and the Frankfurt Stock Exchange (I3A). He is a professional geologist with more than twenty-five years experience since graduating from the Imperial College's Royal School of Mines with an MSc in Mineral Exploration and Mining.
Prior to co-founding Arian, Mr Williams was active in various director, senior officer, and consulting roles for various companies associated with industrial minerals, diamonds, gold, and base metal projects throughout the Americas, Africa and the former Soviet Union .
Mr Williams is a Fellow of the Institute of Minerals, Metals, and Mining (FIMMM), as well as a Registered European Engineer (Eur.Ing) and European Geologist (Euro.Geol).
David Netherway, the Chairman of Kilo Goldmines, commented, 'Jim Williams' experience in Africa and especially in the Archean greenstone belts in sub-Saharan Africa, including extensive work in the DRC, and combined with his experience of listed company markets in Canada and the U.K. will be a valuable asset to Kilo. We also thank Klaus Eckhof for his significant effort and invaluable support for the Company since its inception'.
In conjunction with Mr. Williams appointment and subject to regulatory approval, Kilo has granted him stock options to acquire 300,000 common shares of the Company exercisable for a three year period at a price of $0.20 per share.
About Kilo
Kilo Goldmines Ltd. is a Canadian gold exploration company operating in the Democratic Republic of Congo (DRC). The Company has over 7,000 square km of favourable Archaean Kabalian greenstone in the Kilo-Moto area in north-eastern DRC. Kilo recently announced an inferred resource on the Adumbi Deposit of the Somituri Project of which the Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits.
The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north-eastern DRC.
This news release may contain forward looking statements concerning future operations of Kilo Goldmines Ltd. All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.
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.
Contacts:
KILO GOLDMINES LTD.
Alex van Hoeken
President and CEO
+1-416-360-3415
avh@kilogoldmines.com
KILO GOLDMINES LTD.
Suite 1200, 141 Adelaide Street West
Toronto, Ontario M5H 3L5
Website: www.kilogoldmines.com
Facebook: www.kilogoldmines.com/facebook
Twitter: www.twitter.com/kilogoldmines
