SOURCE: Spartan Gold Ltd.

Spartan Gold Ltd.

December 03, 2010 09:21 ET

Spartan Gold Ltd. Announces the Appointment of New Executive Management Team

WASHINGTON, DC--(Marketwire - December 3, 2010) - Spartan Gold Ltd. (OTCBB: SPAG), a U.S. based junior gold exploration Company, has today announced the appointment of its new executive management team: Mr. Malcolm Stevens (Chairman of the Board, Chief Executive Officer), Mr. William Whitmore (President, Interim Chief Financial Officer), and Mr. Mihailo Gavrilovic (Chief Operating Officer). These appointments are effective immediately and each of the three above-mentioned executives has also been appointed to the Company's Board of Directors ("B of D"). With these new management appointments, the Company has acquired the expertise requisite to both develop existing properties and evaluate potential acquisition opportunities. Coinciding with these appointments to the new executive management team, the corporate offices for Spartan Gold Ltd. will be relocated to Scottsdale, Arizona.

Below are the personal Bio(s) of the newly appointed members of the management team:

1) Mr. Malcolm Stevens, age 60, (Chairman of the Board of Directors, Chief Executive Officer)

Mr. Stevens qualified as a Chartered Accountant with Price Waterhouse in Perth, Western Australia in 1972 after completing a Bachelor of Commerce at Curtain University. Since then Malcolm has worked in a number of International Investment Banks which led to the establishment of his own licensed Investment Dealer, CanAustra Investments Ltd in Sydney1988. The resource sector has been the main focus of business activity from the work on the project financing of Woodside's North West Shelf Gas Project to being a major participant in the development of the modern loan financings in Australia and Canada in the Eighties and Nineties.

In 1996 Mr. Stevens headed up the establishment of private equity funds internationally and later in Australia in 2000. These funds were focused primarily on venture capital mainly for the resource sector. Malcolm has been Chairman of a number of private and public companies and today is Executive Chairman and President of the private equity group CanAustra Holdings Ltd, Sphere Resources in Canada and Executive Chairman of AAP Carbon Ltd in Hong Kong.

2) Mr. William Whitmore, age 51, (President, Interim Chief Financial Officer, Board Member)

Mr. Whitmore has held various high-level executive management positions with a strong operations background. Prior to joining Spartan Gold, Mr. Whitmore was Managing Director of Envisionte, LLC, a Global Business Development Enterprise engaged in consulting for private and public entities around the world. While in this position, Mr. Whitmore managed all aspects of administration and was the representative contact for investment groups that funded projects and numerous other business models under his supervision. While consulting for clients, he has engaged in many executive team development projects and draws on a wide and diverse list of contacts around the globe to achieve the creation of solid and competent management teams.

3) Mr. Mihailo (Mick) Gavrilovic, age 51, (Chief Operating Officer, Board Member)

Mr. Gavrilovic has an extensive background in the development and operations of international mining and energy projects. He has significant experience at a senior level in surface and underground gold and nickel mining projects, and has been involved in the construction of a number of mineral processing plants and vertical mine shafts. During his early engineering career, he held a variety of senior maintenance, project development and operations roles encompassing all facets of operating large mineral processing facilities, together with the provision of ancillary services and utilities to remote areas. Mr. Gavrilovic also has significant experience in developing and commercializing new technologies in the natural gas engine field, mining and construction demolition industry, and has advised a number of companies in their efforts to commercialize leading edge renewable energy technologies.

Mr. David Price, Director of Spartan Gold Ltd., commented, "I am very pleased to have Malcolm Stevens, join Spartan Gold and to take operational control of the company." He went on to say, "After spending time with Malcolm, it is clear that he is the right person to pursue the development of a strong executive management team that will enable Spartan Gold to capitalize on the opportunities available and to bring value to the shareholders of the company."

Mr. Stevens said, "I look forward to the opportunity to lead Spartan Gold and to achieve the vision of becoming a respected and profitable global mining and exploration company." He continued, "I am very pleased to bring a dynamic and competent team together and I believe we are on the right path to accomplishing that goal. I have no doubt in my mind that together we will be able to accomplish that task with the early appointments of Mick Gavrilovic and Bill Whitmore."

About Spartan Gold Limited:

Spartan Gold Ltd. (OTCBB: SPAG) is a U.S. based junior gold exploration and mining company with gold exploration and development activity centered in the northeast region of Alabama. The company is currently exploring additional acquisition opportunities. For more information please visit the company's website at www.spartangoldltd.com.

Spartan's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources. Spartan is selecting international board of directors experienced in undertaking exploration, development and funding of numerous energy and minerals projects in developed and developing countries.

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on Spartan Gold Ltd. predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in metal prices, the ability to successfully fund any exploration activities, consumer and business consumption habits, the ability to fund operations and other factors over which Spartan Gold Ltd. has little or no control. Such forward-looking statements are made only as of the date of this release, and Spartan Gold Ltd. assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in Spartan Gold Ltd. Form 10-K for its fiscal year ended December 31, and other documents filed from time to time by Spartan Gold Ltd. with the Securities and Exchange Commission.

For more information:

See our website www.spartangoldltd.com

Contact Information

  • Please contact:

    Investor Relations:
    Mr. Seth Shaw
    Tel: 917-796-9926
    Email: Email Contact