Lero Announces Board Restructuring
04 Marzo 2008 - 2:00PM
Marketwired
LONDON, UNITED KINGDOM (TSX VENTURE: LER) is pleased to announce
the appointments of Dr Alexander Yakubchuk as Director and Chief
Executive Officer and Mr Massimo Carello as Non-executive Director.
In addition, Dr Sergey V. Kurzin has been elected Chairman while
Darryl Yea has stood down as Non-executive Chairman. Restructure is
effective 3 March, 2008.
Dr Yakubchuk joined Lero in January 2008 as a consultant,
bringing more than 14 years experience gained in the states of the
FSU, including Russia, Kazakhstan, Kyrgyzstan and Uzbekistan, as
well as internationally in Australia, Mongolia, China, Canada, and
some European countries. Most recently he held the position of
Exploration Manager for Europe and the FSU for Gold Fields
International Services Ltd. Dr Yakubchuk has previously worked and
consulted to companies such as BHP-Billiton, Norlisk Nickel,
Goldcorp, Rio Tinto, World Bank and Inco. and previously lectured
as an Associate Professor at Lomonosov Moscow State University for
5 years.
Mr Carello currently holds non-executive positions with Uranium
One Inc. and ACUFON International Ltd. Mr Carello has over 30 years
of international senior management and director level experience
and has been a former Chairman and CEO of Fiat UK and Diners Club
UK. He is also currently an international adviser to Aksia Group
Spa. Incentive stock options (the "options") to purchase up to
200,000 shares, vesting immediately, were granted to Mr Carello on
March 3, 2008, subject to TSX-V regulations and approval. The
options are exercisable for a term of five years at the price of
CAD$0.56 per share.
As a result of Dr Yakubchuk and Mr Carello's appointments, Nick
Clarke (previously President and CEO) will continue as Executive
Director, Dr Sergey Kurzin (previously Executive Director) has been
elected Chairman, while Darryl Yea has stood down as Non-executive
Chairman, remaining an adviser to the Board. Messrs Marc
Prefontaine and Mark Corra continue to hold the positions of
Non-executive Directors.
Executive Director, Nick Clarke commented:
"We are delighted Alexander and Massimo have agreed to join the
Lero board. These are strategic board appointments as their
technical and operational skills will complement our existing high
quality team, and I know that we will be able to draw on
Alexander's vast experience and impressive track record.
Both arrive at an exciting time for the company. Within months,
we are due to have a resource calculation for the Taldybulak
copper-gold project in Kyrgyzstan, as well as for our
Kazakhstan-based Karchiga copper project.
On a separate note, I would like to thank Darryl for his
contribution and support of the Company."
Notes to Editors:
1. Lero Gold Corporation (TSX VENTURE: LER) is a base and
precious metal exploration company led by a senior management team
with extensive expertise in mineral exploration and advanced
project management. In July, 2006 Oriel Resources Plc completed its
previously announced transfer and sale of its gold related assets
into Lero Gold Corporation ('Lero') (formerly ELE Capital
Corporation - 'ELE'). Lero resumed trading on TSX Venture Exchange
(TSX-V) on Thursday, July 27, 2006 under the trading symbol "LER".
Lero Gold is currently seeking and evaluating advanced exploration
stage gold and base metal projects in Kazakhstan, Kyrgyzstan and
Russia. The Company is currently exploring advanced staged gold
deposits in the Tien Shan gold belt in the Kyrgyz Republic and
Rudny Altai belt in Kazakhstan.
The TSX Venture Exchange does not accept responsibility for
adequacy or accuracy of this release.
Contacts: Lero Gold Corp. Dr Sergey V. Kurzin Chairman +44 (0)
20 7514 0590 Lero Gold Corp. Alexander Yakubchuk CEO +44 (0) 20
7514 0590 Lero Gold Corp. Nick Clarke Executive Director +44 (0) 20
7514 0590 Lero Gold Corp. Gavin Dallas Investor Relations +44 (0)
20 7514 0590 Email: info@lerogold.com Website: www.lerogold.com
Vanguard Shareholder Solutions Keith Schaefer (604) 608-0824
Bankside Consultants Michael Padley / Michael Spriggs +44 (0) 20
7367 8888
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