Gossan Resources Limited

Gossan Resources Limited

October 01, 2009 18:40 ET

Gossan Elects New Director at Annual Shareholders Meeting

WINNIPEG, MANITOBA--(Marketwire - Oct. 1, 2009) - Gossan Resources Limited (TSX VENTURE:GSS) (FRANKFURT/FREIVERKEHR XETRA:GSR) held its Annual and Special Shareholders Meeting in Winnipeg on September 29, 2009. The proposed management slate of Directors – Douglas Reeson, Charles de Chezelles, Ryan Cooke, William McGuinty, Andrew Thomson and MaryAnn Mihychuk - were elected to the Board. MaryAnn Mihychuk, M.Sc., P.Geo. who is a new Director, is currently an independent corporate relations consultant in the mineral resource sector. She has 15 years of geological field experience and served as Manitoba's Minister of Industry, Trade and Mines from 1999 to 2004. Most recently, Ms Mihychuk was an executive of the Prospectors & Developers Association of Canada and HudBay Minerals. Shareholders also approved the appointment of Meyers Norris Penny LLP, Chartered Accountants, as auditors of the Company. The matter of the approval of the Company's rolling stock option plan was withdrawn from the agenda.

Ms Mihychuk replaces Mr. Louis Chatsko who has resigned in order to meet new challenges. The Company would like to express its gratitude to Mr. Chastko for his service to the Company as a Director for the past seven years.

At a Directors Meeting, Messrs Douglas Reeson, Carmelo Marrelli and Carl Chester were appointed officers and Ryan Cooke was designated Lead Director – Exploration. An Audit Committee and a Corporate Governance, Compensation and Nominating Committee were also constituted. The Board also approved a fixed stock option plan with the number of shares reserved for issuance limited to less than 10% of the issued shares outstanding. The stock option plan remains subject to the approval of the TSX Venture Exchange.

Gossan Resources Limited is engaged in mineral exploration and development in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty and minor metals, tantalum, lithium, chromium, titanium and vanadium. The Company also has a large deposit of magnesium-rich dolomite, the world-wide rights to the Zuliani magnesium production process, and a silica sand deposit. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 29,117,900 common shares outstanding.

For further information, please bookmark www.gossan.ca.

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 news release.

Contact Information

  • Gossan Resources Limited
    Douglas Reeson
    Chairman & CEO
    (416) 533-9664