Redstar Gold Announces the Appointment of New President & CEO
Vancouver, Canada / TheNewswire / January 25, 2016: Redstar Gold Corp. (TSX.V: RGC) ("Redstar" or the "Company") is pleased to announce the appointment of Mr. Peter A. Ball as President & CEO of the Company effective January 25, 2016. Mr. Ball will also join the Redstar Board of Directors. Mr. Ball will succeed Ken Booth, who has been Interim President and CEO since late February 2015. Redstar would like to thank Mr. Booth for his diligent and dedicated efforts to lead the Company during this period. Redstar is pleased that it will continue to benefit from Mr. Booth's counsel in the future as a member of our Board of Directors.
Mr. Ball, with over 25 years of extensive experience and leadership as a mining professional, is known to have an intense drive, passion and energy required to deliver on the market's expectations. He is joining Redstar from Columbus Gold, where he was Senior Vice-President, Business and Corporate Development. Columbus Gold controls 100% of the multi-million ounce Paul Isnard Gold Project in French Guiana, and also multiple projects in Nevada, Throughout Mr. Ball's career, he has held various senior management roles with international precious metals mining companies in corporate finance, securities trading, mine engineering, business development, corporate communications, public relations and marketing functions throughout North and South America, Asia, and Europe. Mr. Ball began his career in the late 1980s working as a mining engineer, a technical representative, and in various management and senior executive roles for numerous companies including Hudson Bay Mining & Smelting, Echo Bay Mines Ltd., RBC Dominion Securities, Eldorado Gold Corp., Adriana Resources Inc., and Argentex Mining Corp. Mr. Ball is a graduate of the Haileybury School of Mines, Georgian Business College, UBC's Canadian Securities Course and is a member of CIMM.
Jacques Vaillancourt, Executive Chairman of Redstar, "We are very pleased that Peter is joining Redstar's management team. We know and look forward to Peter bringing the same energy, professionalism and diligence that he contributed to Columbus Gold, which helped make it one of the best performing gold companies in the Canadian equity markets in 2014 and into 2015. The Redstar portfolio of projects, including our district scale Unga Gold Project, are very encouraging and require the type of leadership that Peter is capable of offering. We believe that Unga, with its dual trends of epithermal low to intermediate sulphidation mineralization and gold showings over 19 km (2 x 9.5 km), is currently amongst the most exciting and prospective gold projects in North America. The Unga property also hosted the Apollo-Sitka Mine, which was Alaska's first underground gold mine from 1886-1922, and historical reports indicated production of approximately 150,000 gold ounces at a grade of approximately 10 g/t.
Additionally, but not least, I would like to personally, and on behalf of the board, thank Ken Booth for stepping-in as our interim President and CEO, where his contribution was very valuable and appreciated at a critical time for the Company."
The Company also wishes to announce that it has granted incentive stock options to purchase up to 2,500,000 shares to Mr. Ball as part of his compensation package. The options are exercisable at a price of $0.05 for a period of five years.
About RedStar Gold Corp.
Redstar is a junior exploration company focused on high-grade gold exploration in North America. In Alaska, the Company is exploring the 100% owned high-grade Unga Gold Project, which was initially acquired in 2011. The Unga Gold Project contains several high-grade gold/silver vein systems, two of which, Apollo & Sitka were sites of historic high-grade gold production and hosts Alaska's first underground gold mine. The Company completed an eight hole, 1,500 metre diamond drill programm in May 2015 on the Shumagin Gold Zone which yielded several very high gold grade intersections, such as 202g/t Au over 1.9 m and 35.3g/t Au over 2m. This drill program demonstrated continuity of the Shumagin Gold Zone at depth and along strike.
Redstar has a portfolio of eleven (11) properties in Nevada located along and within many of the gold producing trends. In 2005 Redstar acquired AngloGold Ashanti's entire Nevada database after AngloGold redirected its exploration focus from North America to South America. Following the purchase of the database and over several years Redstar assembled the current portfolio of properties. Redstar will be seeking suitable partners to advance its Nevada portfolio.
Redstar also owns 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada. Newman Todd is a high-grade gold discovery along a 1.8 km corridor within the Newman Todd Structure (NTS). The gold mineralization in the NTS remains open along strike and at depth.
On Behalf of the Board of Directors,
Jacques Vaillancourt
Executive Chairman
To additional information please contact:
Peter A. Ball, President and CEO
E: pball@redstargold.com
Paul Durham, Investor Relations
T: 604.245.5861
TF: 877.310.3330
E: pdurham@redstargold.com
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.
Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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