Scandinavian Minerals Limited

Scandinavian Minerals Limited

November 10, 2005 09:21 ET

Scandinavian Gold Board Appointment

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2005) - Scandinavian Gold Limited (TSX:SGL) today announced that it has appointed Mr. Erich Sager to the Company's Board of Directors.

Mr. Sager is a Swiss citizen and holds a business degree from the School of Economics and Business Administration in Zurich, Switzerland. He has held a number of senior banking appointments in Switzerland, including Senior Vice-President, Private Banking, for Dresdner Bank (Switzerland) Ltd and Vice-President, Head of German Desk for Deutsche Bank (Switzerland) Ltd. He is a director of several companies, including Biomarin Pharmaceutical Inc. (Nasdaq:BMRN) and Zecotek Medical Systems Inc. (TSXV:ZMS). The appointment is subject to the approval of the Toronto Stock Exchange.

About Scandinavian Gold

Scandinavian Gold is a Canadian company exploring for precious and base metals in Scandinavia and Finland. The Company's main focus is the development of its 100%-owned Keivitsa nickel-copper-PGE project in Finland. Finland offers long-established political and economic stability, combined with excellent infrastructure and a favourable mining regime.

Keivitsa is one of the world's major undeveloped sulphide nickel deposits and one of the largest mineral discoveries in Finland's history. It hosts a probable reserve of 120 million tonnes grading 0.21% nickel, 0.3% copper, 0.012% cobalt and 0.52 grams/tonne PGE + gold, amounting to 252,000 tonnes contained nickel and 360,000 tonnes contained copper. The probable reserve is contained within an indicated resource of 150 million tonnes 0.18% nickel, 0.27% copper, 0.011% cobalt and 0.47 grams/tonne PGE + gold and an inferred resource of 315 million tonnes 0.18% nickel, 0.29% copper, 0.012% cobalt and 0.4 grams/tonne PGE + gold. The Keivitsa deposit is easily accessible by road. Water and hydroelectric power are available nearby. For SRK Consulting's Technical Report on the Keivitsa project, please refer to

A pre-feasibility study for Keivitsa is currently being undertaken by St Barbara Consultancy Services of London, U.K., in conjunction with the Geological Survey of Finland. The study will be based on open-pit mining of up to 4 million tons of ore per year, with production of separate nickel and copper concentrates for sale to smelters. The Study is scheduled for completion in February 2006.

The Company's 12,873,200 common shares trade on the Toronto Stock Exchange under the symbol SGL.

Contact Information