GoldQuest Appoints Bill Fisher as Chairman;
Issues 300.000 Stock Options at $0.36
View News Release in PDF Format
Vancouver BC, January 20, 2011. GoldQuest
Mining Corp. (TSX-V:GQC) ("the Company") is
pleased to announce that William (Bill) Fisher, P.Geo.,
has accepted the appointment of the Board of Directors as its executive
Chairman of the Board, effective immediately. Mr. Fisher joined the Board in
June 2010 as a nonexecutive director of the Company.
Mr. Fisher is a professional geologist and has over 30 years experience as a
geologist and mining company executive. From 2000 to 2008 he was the CEO of GlobeStar Mining, which during his tenure developed,
financed and built the Dominican Republic's first copper mine at Cerro de Maimon. He also served as Chairman of Aurelian Resources,
which was acquired by Kinross Gold Corp. for over US$1 billion in 2008. Mr.
Fisher was previously Vice President, Exploration for the major base metal
mining and smelting company, Boliden, where he was responsible for exploration
programs in nine countries including Spain.
"I am pleased to reestablish my strong links and have another opportunity
to work in the Dominican Republic, where GoldQuest is
drilling a portfolio of first‐class exploration properties",
commented Bill Fisher. "The Company is well‐managed,
well‐financed and has the benefit of a strong, experienced board of
directors. I look forward to further developing its strategic plan, designed to
fast track opportunities available to the Company."
"The Company is very pleased to have appointed a person of Bill's caliber
and achievement as its new Chairman, to guide it as it executes and expands on
its strategic plan and strengthens its management team," added Anna Stylianides, GoldQuest's CEO.
"His experience in the discovery, financing and development of mineral
properties is outstanding, coupled with his long established relationships in
both the Dominican Republic and Spain. Most importantly, Bill has an extraordinary
record of building shareholder value."
Stock Options
The Company also announces that it has granted an aggregate of 300,000
incentive stock options with an exercise price of $0.36 per share to certain
directors of the Company. The options are being granted pursuant to the
Company's stock option plan and will expire in five years. The options granted
to each recipient director have a specific vesting schedule and vest within two
years.
On behalf of the Board of Directors,
Anna Stylianides
President & Chief Executive Officer
For further information please contact:
Dan Maarsman Jr.
Investor Relations -- Vancouver, Canada
Tel: +1-604-632-4333
investorrelations@goldquestcorp.com
About GoldQuest
GoldQuest is a Vancouver-based exploration company
with projects in the Dominican Republic and Spain, and is traded on the TSX-V
under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W. Dr. Stewart
D. Redwood, PhD, FIMMM, Consulting Geologist for the Company, is a Qualified
Person as defined by NI 43-101 and has supervised the preparation of the
information used in this news release.
Neither the 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 news release.
GoldQuest is a Vancouver-based exploration
company with projects in the Dominican Republic and Spain, and is traded on the
TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W. Dr.
Stewart D. Redwood, PhD, FIMMM, Consulting Geologist for the Company, is a
Qualified Person as defined by NI 43-101 and has supervised the preparation of
the information used in this news release.
Neither the 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 news release.
Forward-looking statement:
This news release contains
certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical fact, that
address events or developments that GoldQuest expects
to occur, are forward looking statements.
This news release contains
"forward-looking information" that is based on the Company's
expectations, estimates and projections as of the dates which those statements
were made. 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. All statements, other than
statements of historical fact, included herein including, without limitation,
statements about the exploration permit of the concession containing both La Escandalosa and Hondo Valle and exploration potential of
the La Escandalosa property. Although GoldQuest 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 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 success,
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 GoldQuest's management on the date the statements are made.
GoldQuest undertakes no obligation to update these
forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
Copyright �
2011 GOLDQUEST MINING CORP. (GQC) All rights reserved.
For more information visit our website at http://www.goldquestcorp.com/ or send email to investorrelations@goldquestcorp.com ..
Message sent on Thu Jan 20, 2011 at 6:20:19 AM Pacific Time