LONDON, Jan. 26, 2006 (PRIMEZONE) -- Crew Gold Corporation (TSX:CRU) (OSE:CRU) and Guinor Gold Corporation (TSX:GNR) (OSE:GNR) report, that in line with the revised schedule, the last shipment of the Kelian plant has arrived, and been off-loaded, in Conakry, Guinea.
Jan Vestrum, President and CEO of Crew, comments, "At a time of escalating capital costs and extended equipment delivery schedules, we are pleased to report that the last shipment of the Kelian plant purchased in 2005 has arrived in line with the revised forecast. The acquisition of the Kelian processing plant is a key driver of the successful expansion at LEFA Corridor Project in Guinea and has saved shareholders in excess of US$50 million in capital outlay."
To accelerate the delivery of the plant through the port and up to the mine site, Guinor arranged in Q1 2005, a visit to Indonesia and the Kelian mine site by senior Guinean Customs and Mining department officials. This has expedited customs clearance in Guinea, which is taking place at the LEFA Corridor mine site. The cargo is being transported to the mine site by a convoy of trucks, replicating the process undertaken with the first shipment which arrived in late November.
The commissioning of the plant is expected to take place late Q4, 2006.
Jan A. Vestrum, President and CEO
For more information, please contact our UK Head Office (TEL +44 -1932 268755) or by email at enquiries@crewgold.com. For more information about Crew, additional contact information, or to subscribe to future news releases, please visit www.crewgold.com
Safe Harbour Statement
Certain statements contained herein, as well as oral statements that may be made by the companies or by officers, directors or employees of the companies acting on the companies' behalf, that are not statements of historical fact, may constitute "forward-looking statements" and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where Crew and Guinor are conducting business and/or investor relations. Forward-looking statements include, but are not limited to, those with respect to the price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future success of exploration activities, the timing and amount of production estimates, the amount and timing of the closing of the financings by Crew, targeted production cash costs and forecasted cash reserves, Crew and Guinor's hedging practices, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risk, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation.