Glass Earth Gold Limited

Glass Earth Gold Limited

July 06, 2011 09:23 ET

Glass Earth Gold Limited: Annual General Meeting Results and Director Departures

WELLINGTON, NEW ZEALAND--(Marketwire - July 6, 2011) - Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth" or the "Company") announced today that all shareholder resolutions were passed at its Annual General Meeting held in Vancouver on June 29, 2011.

Glass Earth also advises of the departures of directors Mr Richard Billingsley and Mr Stephen Burns who did not seek re-election at this AGM. The Company wishes to express its appreciation and thanks to them for their past service and contributions to the Company.

Following this announcement, Glass Earth's Board of Directors is now composed of Mr John Dow (Chairman and independent director), Mr Simon Henderson (President and CEO), Mr Peter Liddle (CFO) and Mr Paul C. Jones (independent director).

The Board of Directors has begun the search for an additional independent director.

About Glass Earth Gold Limited

Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a land position of approximately 10,000 square kilometres in the North and South Islands.

In the North Island, exploration efforts are focused on large epithermal gold systems in the Hauraki/Central Volcanic Region. This Region is host to the 10 million ounce Martha Gold Mine, (Newmont Mining).

Hauraki Region – Glass Earth occupies a significant ground position around Newmont's currently active Waihi gold operations; The Newmont-Glass Earth Waihi West JV (Newmont earning 60%) and Hauraki JV (North and Central Areas - 65/35) are currently being explored and managed by Newmont. Exploration at the WKP gold prospect is ongoing following the very encouraging 2010 drilling results on that prospect.

Central Volcanic Region – Glass Earth has defined several significant epithermal gold targets in this region including the Muirs Reef project (Mamaku district).

In the South Island, exploration efforts are focused on the Otago Region for mesothermal "Macraes-style" gold targets and alluvial gold.

Otago Region – Field programmes to support the drilling of highly ranked Game Hen gold target is underway.

Two alluvial mining operations continue into the 2011 year, coupled with an acceleration of alluvial exploration and resource definition; Glass Earth / Dunstan Mining (placer mining 50/50 partner) anticipate a significant increase in gold output in 2011.

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

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