TORONTO--(BUSINESS WIRE)--Atlanta Gold Inc. (the "Company") (TSXV: ATG; OTC Pink: ATLDF) announces the retirement of James K. Gray, Wm. Ernest Simmons and John Jackson from its Board of Directors. Wm. Ernest Simmons has also retired as President and CEO of the Company. However Mr. Simmons will continue as President, CEO and Director of Atlanta Gold Corporation, the Company's 100% owned subsidiary.
Allan J. Folk, Chairman of the Board, extended his thanks on behalf of the Board and the Company to each of Messrs. Gray, Simmons and Jackson for their invaluable guidance and wise counsel during their tenures with the Company.
The Board expects to fill the role of President and CEO and to add to the Board in the very near future.
In the interim, the Company's Board of Directors has retained R David Russell as a Consultant in an advisory role for the search of additional directors as well as the President and CEO of the Company. Mr Russell will also advise the Company on corporate and operational matters. Mr. Russell graduated from the University of Montana, at Montana Tech, School of Mineral, Science and Technology with a Bachelor of Science Degree in Mining Engineering and has over 35 years of experience in the mining industry. Mr Russell is currently a director of Pure Nickel Inc. and the Chairman of the Board. Mr. Russell was the Founder, President, CEO and Director of the former Apollo Gold Corporation, (now Primero Mining Corp.). Additional positions included Vice-President and Chief Operating Officer of Getchell Gold Company/Placer Dome Gold, General Manager, US Operations, LAC Minerals Ltd. (now Barrick Gold).
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation (“AGC”), leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometres) located 90 air kilometers east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects. The Company is focused on advancing its core asset, Atlanta, towards mine development and production.
This news release contains forward-looking information and forward-looking statements (collectively “forward looking statements”) within the meaning of applicable securities laws, including with respect to the hiring of a new President and CEO, the appointment of additional members to the Board and the timing thereof. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include, but are not limited to, the Company’s ability to successfully hire and appoint qualified persons to those roles, which may in turn be impacted by the Company’s limited financial resources. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward looking statements and accordingly, readers should not place undue reliance on those statements.
Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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 RELEASE.