SOURCE: Spartan Gold Ltd.

February 03, 2011 05:38 ET

Spartan Gold Ltd. Appoints Former Rio Tinto Senior Executive Mr. Marcus Flis to Chair Newly Formed Advisory Board

SCOTTSDALE, AZ--(Marketwire - February 3, 2011) - Spartan Gold Ltd. ("Spartan" or "The Company") (OTCBB: SPAG), a diversified U.S. based gold junior exploration company, has today announced the appointment of Mr. Marcus Flis ("Mr. Flis") as Chairman of the Company's newly formed advisory board. Formerly a senior executive and project director at Rio Tinto Ltd. ("Rio Tinto"), Mr. Flis bring nearly 30 years experience as an explorationist for a wide range of mineral commodities in varied mineral terrains and geographies. Mr. Flis will immediately assist Spartan's management in developing the Company's gold concessions in Alabama and Nevada, as well as evaluate potential acquisition opportunities in Australia. Currently Mr. Flis is Managing Director of Australian Stock Exchange ("ASX") listed Royal Resources Ltd., a Perth, Australia based diversified exploration company.

The Company intends to recruit an additional 4 to 6 members, experienced in both mining and corporate finance, to comprise its advisory board. As Chairman of the advisory board, Mr. Flis will evaluate all future advisory board candidates and communicate regularly with the Company's management and board of directors.

Spartan Gold CEO Mr. Malcolm Stevens commented, "Mr. Flis' vast experience in this industry will prove to be a great asset for our management as we transition from the exploration phase to the development phase. His excellent track record, as a project director at Rio Tinto, demonstrates his ability to profitably develop mining concessions."

Mr. Marcus Flis added, "I am extremely impressed with the quality of both the asset portfolio owned by Spartan Gold and the management team. I look forward to using my experience to help build Spartan Gold into a profitable and highly valuable Gold exploration and mining company."

See Below, Resume for Mr. Marcus Flis, age 52, (Resides in Perth Australia):

MARCUS FLIS BSc (Hons) M.Sc, FAusIMM

MARCUS FLIS is the Managing Director and Chief Executive Officer of publically listed company Royal Resources Limited, an iron ore and uranium explorer. Marcus holds degrees in geology and geophysics from the Universities of Adelaide and Utah. He has extensive experience in the iron ore industry, having held the positions of Exploration Manager for Rio Tinto Iron Ore and the Iron Ore Company of Canada. Prior to joining Royal, Marcus was Director in Rio Tinto's Business Development group involved in mergers and acquisitions, business improvement, and market intelligence. Marcus has over 30 years experience in multi-commodity exploration, assessment and development. He is a Fellow of the AusIMM and is based in Perth, Western Australia.

Please See Partial CV for Mr. Marcus Flis Below:

ROYAL RESOURCES LIMITED -- MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER: 2008-PRESENT

  • Set and execute tactics and strategy to discover and bring into production natural resources in the company's mineral exploration portfolio and those targeted in an involving market.
    • Pursued and bought out the Razorback Magnetite Project in South Australia. Progressing this project to a Pre Feasibility Study with a resource drill out targeting a minimum 1,000 million tonnes.
    • Actively pursue exploration and Joint Venture projects to ensure the future of the company. 
    • Develop, gain board approval, and enact an exploration budget for iron and uranium in Australia and the USA. 
    • Build and nurture a team of professionals that will deliver the company's exploration and development targets. 
    • Set goals and target sizes commensurate with prevailing and forecast economic conditions. 
    • Direct the emplacement of policies and systems that will support the company's business, including HSEC, technical procedures, human resource guidelines, training and development, and information systems.
    • Actively secure funding for the company's activities by interaction with the investment community.

RIO TINTO Ltd. IRON ORE 1997-2008 GLOBAL DEVELOPMENT PROJECT DIRECTOR, PERTH, WA: 1999-2007

  • Identify, evaluate and negotiate new business opportunities and M&A activities.
    • Engaged with Grange Resources to facilitate buy-out of RTIO's Southdown prospect. 
    • Led negotiation of joint venture with New Zealand iron ore explorer NZIO Pty Ltd, resulting in an active exploration and business development partnership. 
    • Assessed market entry opportunities and options for a magnetite blending opportunity and evaluated investment, risk and return; recommended optimal business model leading to a negotiated Joint Venture offer. 
    • Initiated discussions, negotiated Confidentiality Agreement, and prepared bid for entry into a business partnership with an emerging iron producer.
    • Shaped decision-making team to evaluate regional competitor positions resulting in an engagement model with competitors. 
    • Initiated and managed a strategy project on market segments not currently engaged by RTIO. 
    • Characterized Chinese domestic iron ore industry through extensive field trips and developed cost base model and infrastructure utilisation model for Chinese iron ore sector. 
    • Assessed global iron opportunities with reference to RTIO's product offering, marketing strategy, and expansion aspirations. 
    • Due diligence on Iron Ore Company of Canada in support of the successful take-over of North Ltd.
    • Ran resources due diligence on the Quebec Cartier Mining, resulting in declining the opportunity. 
    • Initialization and development of an interactive, web based, global iron resources database.

NEWCREST MINING LTD, PERTH, WA 1987-1997 MANAGING GEOPHYSICIST:

  • Responsible for the application of geophysical methods to gold exploration in all environments.
    • Initiated project generation through application of regional geophysical datasets. 
    • Introduced cutting edge geophysical techniques to gold exploration. 
    • Consulted to mine managers for application of geophysics to business improvement 
    • Developed the geophysical team, hardware, and software to full operational ability. 
    • Supported exploration efforts on the ground in Australia, Indonesia, and Greece.

About Spartan Gold Ltd.

Spartan Gold Ltd. (OTCBB: SPAG) is a publicly traded U.S. based junior gold exploration and mining company with gold exploration and development activity centered in both the Carlin-Rain and Round Mountain- Northumberland Gold Trends in Nevada. The Carlin region is the location of the Spartan Gold prospect known as Poker Flats and Round Mountain, and Northumberland Mining Districts of Nevada are home to the Ziggurat project. Each of these regions are endowed with major gold deposits operated by many of the world leaders in the mining industry. Major mining projects in the Carlin Trend are currently operated by Barrick Gold Corporation (trading on the NYSE and the TSX) and Newmont Mining Corporation (trading on the NYSE) which exist both north and south of the Poker Flats prospects respectively. Additionally, some of the major mining projects in the Round Mountain-Northumberland districts are currently operated by Barrick Gold Corporation and Fronteer Gold (trading on the ASE) which exist in close proximity to the Ziggurat prospect. The company also has mining interests in the northeast region of Alabama in the historical Arbacoochee Mining District. The company is currently pursuing opportunities for several acquisition targets around the world and focusing on operational plans for current projects. The directors, management and advisers of Spartan Gold have over 90 years of combined experience in the exploration and development of global mining projects.

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 has selected an international board of directors experienced in undertaking exploration, development and funding of numerous energy and minerals projects around the world.

DISCLAIMER

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 & Media relations:

    Mr. Seth Shaw
    Tel: +1-917-796-9926
    Investor Relations
    Spartan Gold Ltd.