|By PR Newswire||
|April 16, 2013 09:09 AM EDT||
GIG HARBOR, Wash., April 16, 2013 /PRNewswire/ -- LKA Gold Incorporated (OTCQB: LKAI) announced today that Mr. Sean Tingey, CPA, will be joining LKA's Board of Directors effective today. Mr. Tingey has also been designated by LKA's Board of Directors as chairman of the company's audit committee.
Mr. Tingey is a Certified Public Accountant with over fourteen years of accounting and operations management experience in the metals and mining industries. Mr. Tingey is currently the Director of Performance Management at Schnitzer Steel Industries, Inc., a global leader in the recycling of ferrous and non-ferrous metals. Previously, Mr. Tingey was the Operations Controller for Schnitzer Steel's Metals Recycling & Steel Manufacturing business units. Prior to joining Schnitzer Steel, Mr. Tingey served as Director of Internal Audit for PacifiCorp (a Berkshire Hathaway subsidiary) and Technical Accounting & Business Controls Manager at Interwest Mining, PacifiCorp's Fuel Resources business unit. Mr. Tingey was also the Audit Manager in charge of LKA's audit and financial reporting while at HJ & Associates, LLC in Salt Lake City, and held Senior Auditor positions at Arthur Andersen and Deloitte & Touche. Mr. Tingey earned a Master's degree in Accountancy from Southern Utah University and is a current member of the American Institute of Certified Public Accountants.
According to Mr. Tingey; "I am very happy to have the opportunity to join the LKA Board. Having worked with LKA in a number of advisory roles over the years, I have actively followed LKA's progress and look forward to the exciting opportunities ahead."
LKA's Board Chairman, Kye Abraham, commented; "We are extremely pleased and honored to have Sean join the LKA Board. Sean has been familiar with our operations for over a decade and has served as a valued advisor, especially on complex accounting issues. Sean's industry experience will be invaluable."
About LKA Gold & The Golden Wonder Mine
From 1998 through the second quarter of 2006, LKA's Golden Wonder mine, with a single mining crew, produced over 133,701 ounces of gold from ore with an average grade of 16.01 oz. (453.8 grams) per ton ($207 million at today's price) making it one the richest gold mines in North America. In 2009, LKA commenced an exploration program to re-establish reserves and return the mine to commercial production. Since then, LKA's has shipped bulk ore samples containing more than 2,942 ounces of gold resulting in net gold sales of $3.3 million. Average ore grades during this exploration program have exceeded 1.52 ounces (43 grams) per ton. Investors are cautioned that a commercially viable ore reserve has yet to be established and there can be no assurance that one will be.
Safe Harbor Statement
LKA's plans to resume/expand Golden Wonder production are subject to a number of conditions including, but not limited to, favorable geology, successful exploration efforts, favorable financing terms/availability, permits, gold prices, market conditions, etc. Mining and related activities are inherently high-risk endeavors and there can be no assurance that LKA will be successful. This press release contains certain forward-looking statements. Statements contained in this press release that are not purely historical are considered forward-looking. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding LKA International, Inc.'s future plans for exploration and/or production, future expenses and costs, future liquidity and capital resources, and estimates of ore, ore grades and mineralized material. All forward-looking statements in this press release are based upon information available to LKA International, Inc. on the date of this press release and the Company assumes no obligation to update any such statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's reports filed with the Securities and Exchange Commission.
Jonathan Barkman, President
SOURCE LKA Gold Incorporated