Savary Gold Corp.
TSX VENTURE : SCA

Savary Gold Corp.

November 28, 2013 07:00 ET

Savary Gold Welcomes New President & CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 28, 2013) - SAVARY GOLD CORP. ("Savary" or the "Company") (TSX VENTURE:SCA) announces the appointment of Mr. Don Dudek, as President & CEO and a member of the Company's board of directors.

Mr. Dudek has held various roles with junior to senior exploration and mining companies over the past 30 years. Mr. Dudek recently served as Senior Vice President, Technical Services for Endeavour Mining Corporation while managing a feasibility study for the Houndé gold project in Burkina Faso. Previously, he served as Senior Vice President Exploration of Avion Gold Corporation, a successful junior gold producer and explorer in West Africa and as Exploration Manager for Aur Resources Inc. Mr. Dudek holds a B.Sc. Geology (Honors) from the University of Saskatchewan.

"On behalf of the Company, I would like to welcome Mr. Dudek to the Savary Team. Don brings a wealth of experience and understanding of the Houndé region's geology as well as a solid understanding of operations in West Africa", stated Daniel Nocente, Chairman of Savary Gold Corp. "We believe Don is a great fit for the role having recently managed a feasibility study on Endeavour Mining's Houndé gold project, located approximately 50 kilometres north of our property. We look forward to working with Don as we advance the exploration program on the property towards a maiden mineral resource estimate."

The appointment follows the resignation of Mr. Charles Mostert as President & CEO. Mr. Mostert will continue to serve on the Company's board of directors. The Company would like to thank Mr. Mostert for his ongoing contribution and looks forward to continuing to work with him as a board member.

Pursuant to Mr. Dudek's appointment, he has been granted a total of 640,000 stock options. The options have an exercise price of $0.05 and shall expire five years from the date of grant. The options shall vest immediately, subject to a four month regulatory hold period. The grant of options remains subject to regulatory approval.

About Savary Gold

Savary Gold is a Canadian company with a tightly held capital structure and focused on exploring the Houndé South Gold Property in Burkina Faso. The property is in the Birimian age Houndé Greenstone Belt, which hosts Semafo's Mana mine and additional gold deposits which are presently subject to extensive exploration efforts (including Endeavour Mining's Houndé Project and Sarama's South Houndé Project). For additional information please visit our website at www.savarygold.com and follow us on Facebook, LinkedIn or Twitter @SavaryGold.

SAVARY GOLD CORP.

On behalf of the Board

Daniel Nocente, Chairman

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements or information relate to, among other things, the impact of the appointment on the Company, the next phase of the Company's exploration program and the exploration potential of the Company's properties. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, 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 following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with exploration; fluctuations in gold and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and other risks and uncertainties, including those described in the Company's most recent Management Discussion & Analysis report filed with the Canadian Securities Administrators and available at www.sedar.com. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to 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.

Contact Information

  • Savary Gold Corp.
    Michael McAllister
    Manager, Investor Relations
    416-309-2134
    info@savarygold.com