Forbes & Manhattan, Inc.

Forbes & Manhattan, Inc.

December 10, 2014 11:53 ET

Forbes & Manhattan, Inc.: Coastal Gold President & CEO, Dr. Bill Pearson, Receives 2015 PDAC Distinguished Service Award

TORONTO, ONTARIO--(Marketwired - Dec. 10, 2014) - Forbes & Manhattan, Inc. ("Forbes & Manhattan"), a leading global private merchant bank, is pleased to congratulate Dr. Bill Pearson, P.Geo. President and CEO of Coastal Gold on being selected for the 2015 Prospectors and Developers Association of Canada (PDAC) Distinguished Service Award for his outstanding contribution and dedication to Canada's Mineral and Exploration Industry in which he has worked for over 40 years. The award will be presented to Dr. Pearson at the PDAC Awards Dinner to be held during the 2015 Annual PDAC Convention.

Congratulating Dr. Pearson, Stan Bharti, Executive Chairman of Forbes and Manhattan Inc., said "On behalf of the entire Forbes & Manhattan Team I am very pleased to congratulate Bill Pearson on receiving this prestigious award from the PDAC. Not only has Bill been instrumental in serving the mineral and exploration industry with his work with the APGO and other governing bodies, he has also been part of Forbes & Manhattan's early successes with Desert Sun Mining and Central Sun Mining companies." Mr. Bharti continued "This Award demonstrates the strength that has been built into Forbes & Manhattan, especially now that we can boast an award-winning geologist as part of our Team."

Over his 40-year career, Dr. Pearson has worked in all phases from grassroots exploration through to advanced projects and mine development in the national and international mining industry. He has carried out exploration and development programs in 17 countries in North and South America, Europe, East Asia and Australia and has been responsible for several major discoveries. He has served as an executive and on the boards of a number of junior exploration companies.

As the former Vice President, Exploration for Desert Sun Mining Corp., prior to its April 2006 takeover by Yamana Gold Inc., he directed exploration programs that increased the overall resource base at Jacobina, Bahia, Brazil by 1.4 million ounces of gold and discovered a major new extension to the Canavieras deposit that is being developed by Yamana. March 30, 2015 will be the tenth anniversary of the first gold bar being poured from the reactivation of the Jacobina Mine.

Dr. Pearson was also the former Vice President, Exploration for Central Sun Mining prior to its April 2009 takeover by B2Gold Inc., where he directed exploration programs that discovered new zones at the Santa Pancha mine and at Orosi (now Libertad) in Nicaragua as well as significantly expanding overall mineral resources.

Dr. Pearson is now overseeing the Hope Brook Gold Project in mining-friendly Newfoundland for Coastal Gold. The Company is focused on the potential development of a high grade underground mineral resource and currently the Company is working on a new resource model optimized for the potential development of high grade mineralization.

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