VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 24, 2013) - Mr. Michael R. Sonnenreich has announced his resignation as CEO and Chairman of Williams Creek Gold Limited (TSX VENTURE:WCX) effective May 24, 2013, for personal reasons. The Board of Directors has appointed Director Mr. James Wyant as Chairman and interim Chief Executive Officer to replace Mr. Sonnenreich.
"On behalf of our Board, I would like to thank Mr. Sonnenreich for his commitment and service to the Company. He has been integral in the development of the Company since 2010, and was vital in maneuvering it through these difficult markets. Under his leadership, the Company made several promising exploration property acquisitions, leaving the company well-positioned for future growth. Mr. Sonnenreich has made invaluable contributions to the Williams Creek Board and we wish him continued success in his future endeavours," said Mr. Wyant.
"Williams Creek remains committed to expanding its property portfolio with quality assets in North America in addition to leveraging positive exploration results from our existing properties. The Company will continue to execute on this strategy moving forward, supported by an experienced Board and management team. I look forward to the opportunity to lead Williams Creek in advancing its properties and believe the Company is poised to capitalize on its growth initiatives," added Mr. Wyant.
James Wyant has served on the Board of Williams Creek Gold since 2010. He was President of Wyant &Company, a public corporation listed on the NASDAQ, and presided over its successful sale to Cascades Inc. in 2000. Mr. Wyant also served as the Chairman for Vermont Public Television and was awarded the PBS Leadership Award in 2003.
About Williams Creek Gold Limited (WCX)
Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Gold Limited.
Williams Creek Gold Limited is a Canadian company with the primary purpose of participating broadly in the natural resource sector, with an emphasis on the gold subsector, through exploration, joint ventures or other equity investments, royalty and finance agreements.
Williams Creek Gold Limited owns twenty-eight Crown Granted mineral claims known as the Barkerville Project in the immediate vicinity of Barkerville, BC in the Cariboo mining division. The Cariboo gold belt and the Barkerville Camp have a long history of gold production dating back to the 1800s. Historically the Barkerville Camp has reported gold production of 3.8 million ounces, including 2.6 million ounces from surface placer and 1.2 million ounces from lode mining. When placer gold production peaked in the late 1890s, Williams Creek Gold's Black Jack (District Lot 1B), Home Stake (District Lot 4B), Cornish (District Lot 1F) and Wintrip (District Lot 32F) Crown Granted mineral claims were among the first acquired in the early search for lode gold.
Williams Creek Gold Limited also owns a block of four mineral claims 17km west of Barkerville known as the Pine Properties. The Company has three Crown Granted mineral claims in the Kamloops Mining Division, two of which are adjacent to New Gold's New Afton project. Williams Creek Gold Limited also owns the Ahbau Creek, Chubby Bear and Ahbau Lake claim groups in Central British Columbia, as well as the BOPS claims in Nevada.
Williams Creek Gold is earning a 50% interest through a joint venture with Tyhee Gold Corp. in the Big Sky Property north of Yellowknife, NWT.
Additionally, Williams Creek Gold Limited has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories. Williams Creek also holds the BOPS Project consisting of 32 unpatented lode mining claims in Pershing County, Nevada.
On behalf of the Board of Directors,
James A. Wyant, Chairman and Interim CEO
This news release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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James A. Wyant