|By Marketwired .||
|September 11, 2013 10:00 PM EDT||
WINNIPEG, MANITOBA -- (Marketwired) -- 09/12/13 -- San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) ("San Gold" or the "Company") announced today that its Board of Directors has appointed Mr. Bob Brennan as Chairman of the Board and has accepted the retirement announcement of Mr. Hugh Wynne from his directorship.
Mr. Brennan replaces Hugh Wynne, who has served as Chairman of the Board since the Company acquired the Rice Lake Mine and related assets in 2005. Mr. Wynne is a founder of San Gold Resources Corporation (a predecessor to San Gold Corporation). Mr. Wynne assembled most of the exploration properties under San Gold Resources Corporation and has added to the land portfolio under San Gold Corporation. He has been instrumental in the initiation and start-up of the operations at the Rice Lake Gold Project. Mr. Wynne remains a very significant shareholder of the Company and a great mentor to current directors and management.
"I would like to thank Hugh for his vision and leadership as Chairman in founding and building the Rice Lake Gold Project. During his tenure, San Gold has transformed the Rice Lake Mine into a modern complex with significant long-term upside potential," said Mr. Brennan. "We look forward to the next chapter of this story that Hugh has so boldly begun."
Mr. Brennan was appointed to San Gold's Board of Directors in August of 2012. Mr. Brennan is a Fellow of the Chartered Accountants of Manitoba enjoying a distinguished 47-year career with Manitoba Hydro until his retirement in February, 2012. While at Manitoba Hydro, Mr. Brennan served in various positions culminating in his position as President and Chief Executive Officer from 1990 until his retirement. Mr. Brennan currently serves as Chairman of the Riverview Health Centre Foundation and as a director of Stars Aviation, First Peoples Economic Growth Fund and the Canadian National Institute for the Blind.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is listed on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of San Gold, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.