|Mar 24, 2011|
Kootenay Announces Dick Whittington Appointed to Board of Directors
Kootenay Gold Inc. (TSX.V: KTN) is pleased to announce effective immediately, Mr. Dick Whittington, P.Eng. has been appointed to the Company's Board Of Directors. Mr. Whittington is a professional mining engineer, with a degree from the Royal School of Mines in the United Kingdom.
Mr. Whittington's distinguished career spans 35 years with major mining companies companies in Canada, Panama and Australia. His experience encompasses senior engineering and management roles for several large-scale mine development projects which includes numerous feasibility studies, mine evaluations, mine development, production, mergers and acquisitions and over $1 billion of major corporate financings.
Most recently as President and CEO of Farallon Mining Mr. Whittington took the company from the discovery stage through to mine construction, finance and full production in less than four years. He recently resigned from Farallon upon the successful sale of the company to Nyrstar for $409 million in January of 2011.
"Dick Whittington brings Kootenay a proven track record as a mine builder, operator and financer and will undoubtedly be a major asset to the Company and its management team as we continue to advance our flagship Promontorio Silver Project through the various development stages." stated Kootenay President James McDonald.
Mr. Whittington also brings significant added benefit to Kootenay with respect to his work and accomplishments in Mexico. These include; The development and construction of Farallon's G 9 deposit in Guerrero State, Mexico and a lead roll in founding and Chairing the Mining Task Force, an organization set up to represent Canadian mining and exploration companies in Mexico.
Among his accolades, the Governor General of Canada, Ms. Michaelle Jean, awarded Mr. Whittington a Governor General Gold Medal as a result of his work to strengthen ties between Canada and Mexico and for his commitment to Corporate Social Responsibility in mining. He was also selected as one of the three finalists for the Ernst & Young Entrepreneur of the Year Award for 2010, in the mining category for the Pacific region.
This recognition was presented as a result of his entrepreneurial approach to bring the G-9 Mine into production in a non-traditional manner, specifically the "Parallel Track Approach" which allowed G 9 to come on line 18 months faster than expected and $20 million dollars under budget.
Kootenay has also issued an aggregate total of 750,000 incentive stock options exercisable for a period of five years at a price of $1.00 per share to directors, officers, and consultants of the company.
About Kootenay Gold
Kootenay Gold is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. The Company's flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. The Company's objective is to develop near term discoveries and long term sustainable growth. Kootenay's management and technical team are proven professionals with extensive international experience in all aspects of mineral exploration, operations and venture capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new discoveries while maintaining minimal share dilution.
For additional information, please contact:
James McDonald, CEO and President at 403-238-6986
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
To view an interview with James McDonald visit: http://www.kootenaysilver.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. 2011 number 7
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