Glamis Gold Ltd.

Glamis Gold Ltd.

July 05, 2005 17:07 ET

Glamis Gold Announces Management Reorganization

RENO, NEVADA--(CCNMatthews - July 5, 2005) - All amounts in US$

Glamis Gold Ltd. (TSX:GLG)(NYSE:GLG) announced today that with the El Sauzal mine underway in Mexico, the Marlin project in Guatemala approaching production and exploration and feasibility projects moving forward, Glamis has reorganized to meet the management needs of a significantly larger gold producer. A new executive position has been established, a variety of promotions have taken place and two retirements are scheduled.

New Executive Position

Glamis is pleased to announce that Joseph L. Danni has joined the Company as Vice President, Corporate Communications. Mr. Danni brings a wealth of experience to Glamis following various positions with Placer Dome and Homestake Mining Company over a successful 25 year career, most recently as Senior Vice President, Corporate Relations of Placer Dome Inc. in Vancouver, Canada. Mr. Danni will take overall responsibility for the Company's investor relations, public and governmental affairs.

Company Promotions

Charles A. Jeannes has been promoted to Executive Vice President, Administration. Since joining Glamis in 1999, Mr. Jeannes has managed the administrative and business affairs of the Company. He also heads up Glamis' business development team and is the architect of the Francisco Gold merger, providing the basis for the best growth story in the industry with the El Sauzal and Marlin projects.

James S. Voorhees has been promoted to Executive Vice President and Chief Operating Officer. It is under Mr. Voorhees' leadership that the Marigold mine expansion, San Martin mine development, El Sauzal mine start-up and the ongoing Marlin construction projects have been successfully executed. Despite this period of rapid growth, he has provided the leadership necessary to maintain the culture of excellence at ongoing operations.

Cheryl S. Maher is the Company's Vice President, Finance and Chief Financial Officer, and will now report directly to the President and CEO. Ms. Maher has been with Glamis since 1999 and has skillfully managed the Company's growing finance and accounting group, including providing the financing for Glamis' growth programs now underway.

Tim L. Miller has been elected Vice President, Central America. Mr. Miller was largely responsible for the successful construction and operation of San Martin mine in Honduras, and has been instrumental in the success of Marlin permitting and construction as Project Director.

Timothy Q. Haldane has been elected Vice President, Development. Mr. Haldane was primarily responsible for the completion of El Sauzal feasibility, permitting and construction - all completed ahead of the original schedule. El Sauzal is currently the Company's largest and lowest cost gold mine.

Charles J. Ronkos has been elected Vice President, Exploration. Mr. Ronkos has been involved with Glamis exploration projects throughout Nevada and Latin America since 1999. Through his direct leadership as Exploration Manager, the Company has demonstrated significant growth in gold reserves over the last five years.

Eduardo Villacorta has been promoted to Executive Director, Central America. Mr. Villacorta has been with the Company for nearly five years and was instrumental in the success of the San Martin mine in Honduras as General Manager. Mr. Villacorta will manage the Company's governmental affairs in Central America.


After over fifteen years with Glamis, Steven L. Baumann, Vice President, Central America, has decided to retire effective July 1. Mr. Baumann is responsible for many of Glamis' successes, including expansion of the Rand mine, management of the Picacho mine, the vision setting the stage for growth at the Marigold mine in Nevada and leadership in the development of San Martin in Honduras and Marlin in Guatemala. Mr. Baumann will be moving home to Wyoming with his family.

Michael A. Steeves, Vice President, Investor Relations will be retiring effective July 31, following a thirty year career in the mining industry. Mr. Steeves has considerably enhanced the Company's investor relations function, helping Glamis to achieve its status as a premier intermediate gold producer.

Glamis President and CEO Kevin McArthur said, "This management team is executing what amounts to a tripling of gold production between 2004 and 2007. I am extremely pleased with the Board's actions to promote the careers of some extremely talented and deserving individuals. We extend many thanks to both Steve Baumann and Mike Steeves for their years of service and loyalty to the Company. And, of course, we very much look forward to Mr. Danni's participation in the next phase of the Company's development. This really is a new Company. We have witnessed with great pride our employees' past accomplishments, and we eagerly anticipate the challenges and successes to come."

Glamis Gold Ltd. is a premier intermediate gold producer with low-cost gold mines and development projects in Nevada, Mexico and Central America. Plans call for growth from 400,000 ounces of gold production in 2005 to over 700,000 ounces in 2007. The Company remains 100 percent unhedged. More information regarding Glamis, including biographies of the executive team, can be found on its website at, which is also available in Spanish by clicking on the "Glamis en Espanol" link on the home page.

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, include, but are not limited to those with respect to, the price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, Glamis' hedging practices, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variation of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Glamis to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, possible variations in ore grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Other Considerations" in the Glamis Annual Information Form. Although Glamis has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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