GBS Gold International Inc.

GBS Gold International Inc.

October 02, 2007 09:47 ET

GBS Gold International Inc.: Head Office Relocation and New Executive Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - GBS Gold International Inc. (TSX:GBS) announces that the head office of the Company will be relocating to Toronto in order to be closer to its shareholder base and to key North American capital markets. The transition to the new head office is to be completed by the end of 2007.

GBS Gold is also pleased to announce the appointments of Ted Mayers to Executive Vice President, Business Development, and Marie Inkster to Vice President, Finance.

Mr. Mayers is a Chartered Accountant and was most recently the Chief Financial Officer and a director of LionOre Mining International Ltd ("LionOre"). He joined LionOre at its inception over 10 years ago, and was Chief Financial Officer until its sale to Norilsk Nickel earlier this year. Prior to joining LionOre, Mr. Mayers held senior financial positions with the Molson group of companies. He has been a director of GBS Gold since August of 2005. In the newly created role of Executive Vice President, Business Development, Mr. Mayers will focus on assessing growth opportunities and strategic initiatives, investor relations and financing initiatives to support the planned production growth of the company. Mr. Mayers will report to Gil Playford, Chairman and Chief Executive Officer of GBS Gold.

Ms. Inkster is also a Chartered Accountant and was most recently Vice President, Controller of LionOre. Ms. Inkster will be responsible for the corporate administration of GBS Gold which includes accounting and reporting, treasury, risk management and governance. Ms. Inkster will report to Peter Kerr, the Chief Financial Officer of GBS Gold.

Commenting on the two appointments, Mr. Playford stated "We are very pleased that Mr. Mayers and Ms. Inkster have decided to join GBS Gold. With their combined experience in LionOre as it grew from a junior resources company to a senior nickel producer, we look forward to an enhanced corporate group focused on development and growth."

The new address and contact details of the Toronto office will be provided in due course. In the interim, correspondence should be directed through the Company's existing Vancouver office.

About GBS Gold International Inc.

GBS Gold is an emerging gold producer with 2.6Moz of Measured and Indicated Resources and 1.6Moz of Inferred Resources of gold at its Union Reefs Operations Centre located in historically productive goldfields in the Northern Territory of Australia. GBS Gold produces gold through its modern dual-mill 2.5Mtpa Union Reefs processing plant. The Company expects to construct a flotation plant and bio-oxidation heap leach facility using the GEOCOAT® technology at the Union Reefs Plant to process refractory ores and increase gold production from all sources to a targeted annualized rate of 300,000 ounces in 2009-2010. The Union Reefs plant is adjacent to the main Stuart Highway and the trans-continental Adelaide-Darwin railway line, and is on the Northern Territory power grid. Within 125km trucking distance of the Union Reefs plant, GBS Gold has consolidated over 3,500km2 of prospective tenements and gold deposits and also holds gold exploration properties in Western Australia and Canada. GBS Gold trades on the Toronto Stock Exchange under the symbol "GBS".

The TSX does not accept responsibility for the adequacy or accuracy of the information contained herein.

Contact Information

  • GBS Gold International Inc.
    Samuel Yik
    Vice President, Corporate Finance and Investor Relations