Toronto, Canada – July 14, 2014 – Savary Gold Corp. (TSX-V: SCA) (“Savary”) has appointed Paolo Lostritto, former Director of Mining Equity Research for National Bank Financial and Mr. Thomas Olesinski, Chief Executive Officer for Havas Media Canada to the Board of Directors effective immediately.
Mr. Paolo Lostritto is a former Director in the Mining Equity Research Group for National Bank Financial. Over the past 17 years he has worked in mining equity research at Wellington West, Scotia Capital and TD Securities. Mr. Lostritto holds a Bachelor of Applied Science in Geological and Mineral Engineering from the University of Toronto and is a registered Professional Engineer in the Province of Ontario.
Mr. Thomas Olesinski, CPA, CMA has over 20 years finance and management experience. Mr. Olesinski worked as a managing forensic accountant for BDO Dunwoody where he earned a Certified Fraud Examiner’s designation, before moving into the marketing communications industry where he worked for Cossette Communication Group in various roles including Director of Finance and Operations. Mr. Olesinski currently works as the Chief Executive Officer for Havas Media Canada as well as serving as the Chief Financial Officer for the Havas Worldwide Canada.
Daniel Nocente, Chairman of the Board for Savary Gold stated “We are pleased to welcome Paolo and Tom to the Board and we look forward to working with them and drawing on their skill and expertise as Savary continues to develop and build the Houndé South Property. In addition to their regular board duties, Tom will be appointed head of the audit committee and Paolo will assist in the marketing of Savary given his great industry and personal contacts.”
Savary has granted each of Mr. Lostritto and Mr. Olesinski 100,000 stock options, which have an exercise price of $0.06 per common share, expire five years from the date hereof and vest immediately.
Stephan Theron and Charles Mostert will be stepping aside from the Board at this time to pursue other opportunities. The Board wish to thank Stephen and Charles for their valuable contributions to Savary’s development.
About Savary Gold
Savary Gold is a Canadian exploration company focused on exploring the Houndé South Gold Property in Burkina Faso. The property is in the Birimian age Houndé Greenstone Belt, which hosts Semafo’s Mana mine and additional gold deposits that are presently subject to extensive exploration efforts (including Endeavour Mining’s Houndé Project, Roxgold’s Yaramoko Project and Sarama’s South Houndé Project, which is adjacent to Savary Gold’s property). For additional information please visit our website at www.savarygold.com and follow us on Facebook, Linked-In and Twitter: @SavaryGold.
Don Dudek, P.Geo., President and CEO of the Company and a “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
SAVARY GOLD CORP.
On behalf of the Board
President & Chief Executive Officer
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This news release may contain forward-looking statements. These statements include statements regarding the appointment and resignation of directors. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.