VANCOUVER, BRITISH COLUMBIA--(Marketwire -12/08/11)- Indigo Exploration Inc. (TSX-V: IXI.V - News)(Frankfurt: INE) has appointed Mr. Keir Reynolds to the Board of Directors and Mr. Lorne Warner to the Advisory Board.
Mr. Reynolds has been involved in the mining and energy sectors since 2005, and has assisted in the raising of more than $120-million of equity for companies. In April 2011, he founded Mammoth Market Advisory Corp., which specializes in advising public and private companies with their capital markets strategies to achieve industry-leading valuations.
Keir Reynolds said: "I thank the Indigo Board for this appointment and look forward to assisting the company in refining its business strategy in order to better unlock the value of its significant portfolio of gold exploration projects in Burkina Faso."
Mr. Warner, P.Geo., is a professional geologist registered in ON, BC, NWT and Nunavut and a graduate from University of Alberta in 1986 - Geology. He has over 30 years experience in mineral exploration and underground and open pit mining, the majority with Noranda Exploration and Placer Dome Inc. As senior project geologist his team discovered the western extension of the Detour Lake Main Gold Zone and several new gold zones such as the M Gold Zone at Detour Lake, Ontario. Mr. Warner is currently President and CEO of Rossland Resources Inc. and Geocon Enterprises Inc.
Mr. Warner was until recently a Director and VP Exploration of Rockgate Capital Corp., where he was instrumental in the discovery of the Falea North Zone - U, Ag, Cu deposit in Mali. He also was instrumental in the discovery of the Fatou Main gold deposit as Director and VP Exploration of Rockridge Capital Corp. Lorne has worked in Canada, USA, Mexico, Brazil, Namibia, South Africa, Mali, Niger and has extensive exploration and development experience in Archean and Birimian gold exploration.
In other news, Buck Morrow has resigned from the Board of Directors of Indigo. The Company thanks Buck for his contributions.
Indigo would also like to provide an update on its reverse circulation drilling program currently underway on its Lati gold project in Burkina Faso, West Africa. The 5,800 metre reverse circulation drilling program commenced on November 27, 2011. Six holes have been completed to date reaching an average depth of 120 metres. Assays are pending.
About Burkina Faso
The Lati, Kodyel, Loto, and Moule properties lie in the West African nation of Burkina Faso. Much of West Africa is underlain by the Birimian Greenstone Belt, one of the most prolific gold producing areas in the world. Many of the world's major gold companies are active in West Africa, several with producing mines, including: IAMGOLD Corporation, AngloGold Ashanti Limited, Randgold Resources Limited, Gold Fields Limited and Newmont Mining Corporation. Burkina Faso is politically and economically stable and relies on farming and mining as it primary sources of revenue. Burkina Faso saw gold production double from 2008 to 2010 and is currently the 5th largest gold producing country in Africa.
On Behalf of the Board of Directors,
R. Tim Henneberry, P.Geo., President and CEO
Paul Cowley, P.Geo., Director of Indigo Exploration Inc., is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, planned drill program or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in the Company's MD&A filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
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- Burkina Faso
Indigo Exploration Inc.
Indigo Exploration Inc.