Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

August 09, 2011 19:52 ET

Skyline Announces the Appointment of Mr. John Zbeetnoff as Chief Executive Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2011) - Skyline Gold Corporation (TSX VENTURE:SK) ("Skyline" or the "Company") is pleased to announce the appointment of Mr. John Zbeetnoff, P.Geo. to the position of Chief Executive Officer. Mr. Zbeetnoff was previously on the Company's Advisory Board and was consulting as the Chief Geologist working with the Company's Chief Operating Officer, Mr. Jim Sparling, in the geological compilation, interpretation and supervision of the current exploration programme.

Mr. Cliff Grandison has stepped down from the role of CEO and has accepted the role of co-chair of the Board. The Board is most appreciative of Mr. Grandison's very successful tenure in filling the role of CEO during the advancement of the Bronson Slope Deposit through a positive Preliminary Assessment and more recently while the Company was searching for a full time CEO with an extensive exploration background. Mr. Zbeetnoff has a long history of association with a number of management members and technical advisors to the Company dating back to the exploration and development of the Brewery Creek mine and most recently as the Chief Geologist on the exploration of the Hammond Reef project held by Brett Resources. The Board is confident that Mr. Zbeetnoff has the experience and leadership qualities that will make this step from Chief Geologist to CEO successful for both the Company and Mr. Zbeetnoff. The Board members look forward to working with Mr. Zbeetnoff and participating in his transition to CEO.

Mr. Zbeetnoff is looking forward to assuming this expanded role and is enthusiastic about working with the exploration team that has been assembled for the Iskut Property.

The Board has reviewed the Company's allocation of share options and in light of the excellent progress being made for exploration and drill preparedness, the Board has awarded an additional 5,540,000 stock options to various directors, officers, employees and consultants at an exercise price of $0.27 ($0.02 above the close of market on August 4, 2011) that vest one quarter immediately and an additional one quarter on each successive anniversary date. The majority of these option allocations were to the senior officers of the Company with the objective of providing a large incentive for performance and an extended vesting period as a retention incentive.

NR-SK-11-12

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

  • Skyline Gold Corporation
    Bob Matthews
    Chairman of the Board
    604-681-3989
    604-681-3557 (FAX)
    www.skylinegold.com