Sargold Resource Corporation
TSX VENTURE : SRG

Sargold Resource Corporation

January 31, 2007 14:19 ET

Sargold Appoints George Paspalas as President, COO & Director

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 31, 2007) - Sargold Resource Corporation (TSX VENTURE:SRG) ("Sargold" or the "Company") is pleased to announce the appointment of Mr. George Paspalas as President, Chief Operating Officer and a member of the Sargold Board of Directors. During the past eight months as Chairman of Sardinia Gold Mining S.p.A ("SGM"), a 90-percent owned subsidiary of the Company, Mr. Paspalas had been overseeing the process of refurbishing the process plant and conducting technical evaluations for implementing a feasible re-start at Furtei. Mr. Paspalas will continue to manage this process on the ground in Sardinia, and will be reporting on results and objectives for the project within the first quarter of this year.

Mr. Paspalas has worked in the mining industry for more than 20 years, and brings both operational and executive experience to this role. Prior to joining SGM, he worked for Placer Dome Inc. in a variety of senior positions all over the globe. In his 18-year career with Placer, Mr. Paspalas gained the valuable knowledge and experience needed to build and run mining operations, develop strategic community partnerships, and manage government affairs relating to permitting activities. Some specific examples of his leadership include significant business returns at the Osborne and Granny Smith mines in Australia, successful implementation of the Wallaby project in Western Australia, and the dynamic integration of the North Mara mine in Tanzania. In his last role as Senior Vice-President, Project Development, Mr. Paspalas directed development and permitting activities related to the Donlin Creek property in Alaska, Cortez Hills expansion in Nevada, and Pueblo Viejo project in the Dominican Republic.

Sargold Chairman and CEO Richard Warke said, "We are pleased to have someone with George's talent on the Sargold team. His experience and expertise will play a key role in our efforts to move this Company from explorer to gold producer in 2007."

ABOUT SARGOLD RESOURCE CORPORATION. Sargold controls the largest precious metals exploration and exploitation land area in Sardinia, Italy. These assets include the fully permitted Furtei mine and processing plant, in addition to the large Monte Ollasteddu mineralized system lying within a 50 kilometer geological belt in the Eastern Paleozoics. Sargold is also permitting an advanced exploration program at Osilo, the site of several existing discoveries located in northwestern Sardinia. Sargold owns 90% of Sardinia Gold Mining S.p.A, the operating company based at Furtei. The island of Sardinia, located approximately 150 kilometers west of Rome, is the second largest in the Mediterranean Sea covering over 24,000 square kilometers.

ON BEHALF OF THE BOARD OF DIRECTORS,

Richard W. Warke, Chairman & CEO

FORWARD-LOOKING STATEMENTS - The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Company's latest annual report and management discussion and analysis. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Sargold Resource Corporation
    Marlo Hamer-Jackson
    Investor Relations Manager
    (604) 687-1717
    (604) 687-1715 (FAX)
    Website: www.sargold.com