Astur Gold Corporation

Astur Gold Corporation

February 29, 2012 08:00 ET

Astur Gold Appoints Mike Surratt as Interim Chief Operating Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2012) - Astur Gold Corp. (TSX VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the "Company") is pleased to announce the appointment of Mr. Michael Surratt as the Company's Interim Chief Operating Officer.

Mr. Surratt was the Founder, President and CEO of Mercator Minerals Ltd. (TSX:ML) from its inception in 1998 until his retirement in June 2011, during which time he was responsible for growing Mercator Minerals from a junior exploration company into a strong intermediate base metals producer with a market cap of over $800 million. He directed construction of the 50,000 ton per day Mineral Park copper-molybdenum mine, and led the acquisitions of both the El Pilar copper project and the El Creston molybdenum project in Mexico. Prior to founding Mercator, Mr. Surratt held positions as President and CEO of Aurex Resources, Director and VP Worldwide Operations at Miramar Mining, and VP Development for Santa Fe Gold.

He has extensive operating experience as both an open pit and underground mine manager, including over 15 years experience with various methods of underground mining. Mr. Surratt formerly served as General Manager of the underground Con Gold Mine in the Northwest Territories, where he was responsible for the redesign, start up, and operation of the Con mine autoclave for processing refractory ore. Michael holds a B.Sc. in Geology and is a current member of the Prospectors and Developers Association of Canada.

"Mike's exceptional mining expertise in underground operations is of great value to the Company as we move Salave towards production." commented Cary Pinkowski, CEO of Astur Gold.

Astur Gold has granted Mr. Surratt options to purchase 175,000 common shares in the Company, exercisable at a price of $1.30 per share for a period of 3 years.

Astur Gold concurrently announces the resignation of Emilio Hormaeche from his position as President and Director. The board of Astur Gold would like to thank Mr. Hormaeche for his service to the company as President and Director. Mr. Hormaeche will continue to work with the Company as Technical Advisor, responsible for metallurgy and environmental permitting of the Salave gold project. As a result of this change, Cary Pinkowski will assume the role of President.


Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain comprising 3198 hectares. Salave is one of the largest undeveloped gold deposits in Western Europe. The Company submitted an application for an underground mine permit to the government of Asturias in September 2011. Astur Gold is currently conducting underground mine planning and an Environmental Impact Study. The Company is building a partnership with the people of Asturias to generate sustainable economic benefits for the region while balancing the needs of environmental protection and social community development.


Cary Pinkowski, Chief Executive Officer and Director

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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