LONDON, January 18, 2018 /PRNewswire/ --
Condor Gold (AIM: CNR; OTCQX: CNFGF; TSX: COG) is pleased to
announce that Mr Andrew Cheatle has
been appointed, with immediate effect, as a Non Executive Director
of Condor Gold.
Mark Child, Chairman and Chief
Executive Officer of Condor, commented:
"I am delighted that Andrew
Cheatle has joined the Board. Following the dual listing on
the TSX on 15th January
2018, it is important to have a Canadian based Director to
add gravitas and effect introductions in Canada. Andrew until recently held a high
profile position as the Executive Director of Prospectors and
Developers Association of Canada
(PDAC), the trade body representing both exploration companies and
producers. He has lived in Canada
for 18 years and worked in senior positions at Goldcorp, AMEC plc,
Treasury Metals, and Unigold Inc. I look forward to working with
Andrew to enhance shareholder value and deliver on the strategy of
permitting a new mine at Mina La India, Nicaragua and proving a substantially bigger
gold district."
Andrew Cheatle (P.Geo., MBA, FGC,
ARSM.) is a mining industry executive, professional geoscientist
and graduate of the Royal School of Mines at Imperial College,
London. His 30-plus-year,
international career has encompassed both the senior and junior
mining sectors as an exploration geologist, mine geologist, General
Manager, Vice-President, Director, President and Chief Executive
Officer.
Andrew was Executive Director of Prospectors and Developers
Association of Canada (PDAC) from
February 2015 to November 2017. He has worked for both large gold
producers and junior exploration companies. Between 2000 and 2008
he worked as Chief Geologist at Goldcorp/ Placer Dome Inc's
Musselwhite Mine, Ontario, Canada.
Between 2008 and 2009 he was Principal Geologist at AMEC plc
based in Canada and in 2011
Vice-President Exploration at Treasury Metals. Between 2011 and
2015 he was President and CEO of Unigold Inc. and delivered a
maiden 2 million ounce of gold mineral resource at the flagship
property in the Dominican
Republic. In his early career Andrew worked for 10 years for
Anglo American Corporation at the Vaal Reefs Gold Mine in
South Africa as a mineral resource
manager and senior geologist. He will bring a range of expertise
covering the mining industry and exceptional network in
Canada to the Board of Condor.
Mr. Cheatle's education: BSc Hons - Geology, Royal School
of Mines, Imperial College, University of London, 1985
MBA - Capella University, Minneapolis, USA. 2005
Affiliations: P.Geo., Association of Professional
Geoscientists of Ontario. Fellow,
Geological Society, London.
Andrew Mark Cheatle (aged 54) has
held the following directorships and / or partnerships in the past
5 years:
Current: International Women in Mining C.I.C.
Past: Unigold Inc., Minexco Minerals.
Mr. Cheatle is eligible to be a Qualified Person under NI 43-101
(as defined below) by virtue of his professional affiliation,
qualifications and experience.
Mr. Cheatle does not currently own any shares or warrants in the
Company.
There is no further information on Mr. Cheatle to be disclosed
under Schedule Two, paragraph (g) (i) -(viii) of the AIM Rules for
Companies.
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31
May 2006. The Company is a gold exploration and development
company with a focus on Central
America.
Condor published a Pre-Feasibility Study ("PFS") on its wholly
owned La India Project in Nicaragua in December
2014, as summarized in the Technical Report (as defined
below). The PFS details an open pit gold mineral reserve in the
Probable category of 6.9 million metric tonnes ("Mt") at 3.0
grams per tonne ("g/t") gold for 675,000 oz gold, producing 80,000
oz gold per annum for seven years. La India Project contains a
mineral resource in the Indicated category of 9.6 Mt at 3.5 g/t for
1.08 million oz gold and a total mineral resource in the Inferred
category of 8.5 Mt at 4.5 g/t for 1.23 million oz gold. The
Indicated mineral resource is inclusive of the mineral reserve.
Disclaimer
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
Technical Information
The disclosure contained in this news release of a scientific or
technical nature has been summarized or extracted from the
technical report entitled "Technical Report on the La India Gold
Project, Nicaragua, December 2014", dated November 13, 2017 with an effective date of
December 21, 2014 (the "Technical
Report"), prepared in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101").
The Technical Report was prepared by or under the supervision of
Tim Lucks, Principal Consultant
(Geology & Project Management), Gabor Bacsfalusi, Principal
Consultant (Mining), Benjamin
Parsons, Principal Consultant (Resource Geology), each of
SRK Consulting (UK) Limited, and Neil
Lincoln of Lycopodium Minerals Canada Ltd., each of whom is
an independent Qualified Person as such term is defined in NI
43-101.
Forward Looking Statements
Certain statements in this news release constitute
forward-looking information under applicable Canadian securities
laws. These statements relate to future events or future
performance and include, but are not limited to, estimates of
mineral resources and mineral reserves, the
Company's ability to enhance
shareholder value and deliver on its strategy for the La India
Project, and future gold production at the La India Project.
All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"seek",
"anticipate",
"plan",
"continue",
"objectives",
"strategies",
"estimate",
"expect",
"may",
"will",
"project",
"predict",
"potential",
"targeting",
"intend",
"could",
"might",
"should",
"believe" and similar expressions. These
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. The Company believes the expectations reflected in
those forward-looking statements are reasonable but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements included in this news release
should not be unduly relied upon. The Company does not undertake
any obligation to update forward-looking statements except as
required by applicable securities laws.
For further information please visit
http://www.condorgold.com or contact:
Condor Gold plc: Mark Child,
Chairman and CEO, +44(0)20-7493-2784
Beaumont Cornish Limited: Roland
Cornish and James Biddle,
+44(0)20-7628-3396
Numis Securities Limited: John
Prior and James Black,
+44(0)20-7260-1000
Blytheweigh: Tim Blythe,
Camilla Horsfall and Megan Ray, +44(0)20-7138-3204
SOURCE Condor Gold plc
