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New
Directors Appointed to the Board of Zoloto Resources
Zoloto Resources Ltd. ("Zoloto" or the
"Company") (TSX Venture:ZR) announces significant changes to its
Board of Directors.
In line with the Company's previous stated objectives of
improving the breath of the technical and Russian capabilities at the board
level, three new Directors were appointed at the Board of Directors'
meeting today; Mr. Ron Miller, Mr. Tim Petterson, and Mr. Ian Slater,
subject to TSXV approval Mr. Miller has also been appointed
Chairman of Zoloto.
Prior to these new appointments, Mr. Laurence
Stephenson and Mr. Glen Indra decided to both step down from Zoloto's
Board of Directors.
Bob Maddigan, a director of Zoloto, comments "Over
the past 18 months the Company has made a rapid shift in its focus from a
Canadian to a Russian gold explorer. The above changes to the Company's
Board mark the end of this process, with the new appointees reflecting the
Russian focus of the Company. I would like to take this opportunity to
thank Laurence and Glen for their efforts, particularly during this
transitional period."
Profiles of New Directors
Ron Miller:
Mr Miller is an Alaska-based attorney and businessman
with fourteen years experience in Russia representing clients in a wide-variety
of business transactions in addition to managing his own joint ventures. Earlier
this year he completed a five-year term as Executive Director of the State
of Alaska's development finance agency, the Alaska Industrial Development
and Export Authority, and Alaska's energy office, the Alaska Energy
Authority (AEA). Mr Miller serves on the board of the International Virtual
e-Hospital Foundation, a non-profit organization dedicated to establishing
telemedicine networks in developing countries. Mr. Miller's undergraduate
work was in Russian studies and, in addition to JD and LLM degrees, holds
an MBA from IMD in Lausanne, Switzerland.
Tim Petterson:
Mr Petterson is currently Managing Director Mining at
Kingsdale Capital Markets, the principle financier and advisor to the
Company. Prior to joining Kingsdale four years ago, he worked for 15 years
in both Mining Consultancy and Investment Banking in London. Mr Petterson has held several senior positions including Head
of Global Mining Research at HSBC and more latterly ABN AMRO, before
becoming ABN AMRO's Head of Pan European Equity Research. Mr Petterson is a
graduate Mining Engineer and a Canadian resident.
Ian Slater:
Until recently, Mr Slater was President, CEO and
Director of Fortress Minerals, a Canadian listed gold exploration and
development company, whose principle property is in the Russian Far East.
Prior to that Mr Slater was Managing Partner for Ernst & Young's
Canadian Mining Practice. A Chartered Accountant he also spent six years as
a partner for Arthur Andersen in Tashkent, Almaty and Moscow. He is
currently Chairman and CEO of Slater Mining, and is on the board of Miranda
Gold, Cornerstone Capital Resources, P2P Health Systems and Dagilev
Capital.
About Zoloto Resources
Zoloto is a gold exploration company whose primary focus
is to become a mid-tier gold producer through the advancement of its gold
exploration properties in the Russian Federation. In addition, Zoloto's
management will continue to evaluate acquisition opportunities within the
Russian Federation. Zoloto's philosophy is to unlock shareholder value in a
socially and environmentally responsible manner.
Robert Maddigan, Director
For more information please contact:
Alan Tenenbaum/Yana Bobrovskaya
Investor Relations
Zoloto Resource Ltd.
Phone: (604) 608-0223
Fax: (604) 608-0344
This news release contains
forward-looking information which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other factors
that could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this news
release includes, but is not limited to, the Company's objectives, goals or
future plans. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to,
those risks set out in the Company's public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information, which
only applies as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed time frames or at all.
The Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
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