Stockholm, Sweden, 2011-06-01 11:54 CEST (GLOBE NEWSWIRE) -- Central Asia Gold AB strengthens its management team by appointing Johan Arpe as the new Chief Financial Officer and Alexander Zabolotskij as the new Chief Geologist.
John Arpe, 37, has an MBA in economics and has worked as a chartered accountant at PwC, RSM Ranby Björklund and Deloitte. He has previously been an auditor of Central Asia Gold AB and has during the last year been running his own consultancy business what also included consultancy services to Central Asia Gold in the spring of 2011.
Central Asia Gold AB has also appointed Alexander Zabolotskij as Chief Geologist. Alexander is 57 years old and was previously employed at Atomredmetzoloto OAO, where he was responsible for methodology and administrative supervision of uranium and gold mining. Alexander has an extensive experience in heap and underground leaching of gold, copper and uranium, with supporting components, as well as of gold prospecting and mining. He has over the years been employed in different senior positions in a number of leading Russian mining companies. Zabolotskij has a geology degree from Geological and Exploration Institute in Moscow and in 2010 he defended his doctoral dissertation on the preparation of nonferro and precious metal deposits for heap and underground leaching.
"Alexander's and Johan’s broad experience and knowledge will contribute to the development of our expanding business. We welcome Alexander and Johan to our team", said Preston Haskell, the company's CEO.
Additional information:
Short name: CAG
ISIN-code: SE0001337213
For more information, please contact:
Lars Guldstrand, Chairman of the Board, phone +46 70 528 8181
E-mail: lars.guldstrand@centralasiagold.se
Preston Haskell, CEO in Central Asia Gold AB, phone: +46 76 890 5549
E-mail: preston.haskell@centralasiagold.se
Website: www.centralasiagold.se, Postal and visiting address: Engelbrektsplan 2, 4tr
SE-114 34 Stockholm
Central Asia Gold AB is a Swedish mining company focused on gold production and exploration in Russia in the central parts of Asia. In 2010, totally 730 kg of gold was produced. As of the beginning of May 2011, the company’s assets were estimated to encompass some 1,000,000 oz of C1/ C2 Russian gold reserves (around 32 tons).
Since July 19, 2010, Central Asia Gold´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name CAG. For more information please visit www.centralasiagold.se. Mangold Fondkommission is Certified Adviser to CAG, for more information please call +46 8 503 015 50 or visit www.mangold.se.
Cautionary Statement: Statements and assumptions made in this report with respect to Central Asia Gold AB’s (“CAG”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of CAG. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where CAG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) CAG’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. CAG assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Central Asia Gold AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.
