Lero Gold Corporation
TSX VENTURE : LER

Lero Gold Corporation

January 18, 2008 12:57 ET

Lero Appoints Dr Alexander Yakubchuk as Consultant & Julian Woodcock as Chief Geologist

LONDON, UNITED KINGDOM--(Marketwire - Jan. 18, 2008) - Lero Gold Corp. ("Lero", or the "Company")(TSX VENTURE:LER) is pleased to announce that Dr Alexander Yakubchuk has been appointed as a Consultant to the Company and Julian Woodcock as Chief Geologist.

Dr Alexander Yakubchuk - Consultant, 43

Dr Yakubchuk joined Lero in January 2008, bringing more than 14 years experience gained in Russia and the states of the FSU including Kyrgyzstan and Kazakhstan. Most recently he held the position of Exploration Manager for Europe and the CIS for Gold Fields International Services Ltd. Dr Yakubchuk also held the position of Chief Geologist for QGX Ltd in Mongolia and Branch Manager for BHP Minerals International Exploration Inc. and lectured as an Associate Professor at Lomonosov Moscow State University for 5 years. He negotiated the exploration alliance with Lero Gold Corp., the placement by Gold Fields into EMED Mining and discovered the +3Moz Degdekan Gold Deposit, Magadan, Russia. Dr Yakubchuk has previously consulted to companies such as BHP-Billiton, Norlisk Nickel, Goldcorp, Rio Tinto, World Bank and Inco. Incentive stock options (the "Options") to purchase up to 1 million shares, vesting immediately, were granted to Dr Yakubchuk on January 18, 2008, subject to TSX-V regulations and approval. The Options are exercisable for a term of 5 years at the price of CAD$0.53 per share.

Julian Woodcock - Chief Geologist, 29

Julian is a graduate of Camborne School of Mines with over five years exploration and resource geology experience within the CIS. Experience includes modeling and resource definition as well as drill programme and exploration planning. He recently held the position of Production Geology Manager for Kinross Gold Corporation at the Kupol Epithermal Gold Project within the Arctic Circle, Russia.

President and CEO of Lero Gold, Mr. Nick Clarke commented:

"We are pleased to welcome Alexander and Julian to the Lero team. With their extensive experience of central Asian geology and impeccable academic backgrounds we are very confident we can drive Lero forward, with Julian ensuring the outstanding work being achieved in-country is maintained on what is now a very exciting portfolio of quality projects."

Lero Gold Corp. further announces that on January 18, 2008 it granted Options to purchase up to 50,000 shares, vesting immediately, to an existing employee of Lero, subject to TSX-V regulations and approval. The Options are exercisable for a term of 5 years at the price of CAD$0.53 per share.

Notes to Editors:

1. Lero Gold Corporation (TSX VENTURE:LER) is a base and precious metal exploration company led by a senior management team with extensive expertise in mineral exploration and advanced project management. In July, 2006 Oriel Resources Plc completed its previously announced transfer and sale of its gold related assets into Lero Gold Corporation ('Lero') (formerly ELE Capital Corporation - 'ELE'). Lero resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006 under the trading symbol "LER". Lero Gold is currently seeking and evaluating advanced exploration stage gold and base metal projects in Kazakhstan, Kyrgyzstan and Russia. The Company is currently exploring advanced staged gold deposits in the Tien Shan gold belt in the Kyrgyz Republic and Kazakhstan.

2. Gold Fields International Services Ltd is an indirect wholly owned subsidiary of Gold Fields Limited.

3. The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release.

Contact Information

  • Lero Gold Corporation
    Nick Clarke
    President & CEO
    +44 (0) 20 7514 0590
    or
    Lero Gold Corporation
    Darryl Yea
    Non-Executive Chairman
    (604) 699-2458
    or
    Lero Gold Corporation
    Gavin Dallas
    Marketing and PR
    +44 (0) 20 7514 0590
    Website: www.lerogold.com
    or
    Canaccord Adams Limited
    Robin Birchall / Ryan Gaffney
    +44 (0) 20 7050 6500
    or
    Bankside Consultants
    Michael Padley / Michael Spriggs
    +44 (0) 20 7367 8888