TORONTO, ONTARIO--(Marketwired - July 19, 2013) - Touchstone Gold Limited (TSX:TCH)(AIM:TGL) ("Touchstone Gold" or the "Company") today announces that David Wiley has given notice of his resignation from the Company's Board of Directors and his intention to stand down as CEO in order to pursue other interests. His resignation will take immediate effect.
Lord Clanwilliam, Patrick James Gillford, has also tendered his resignation as a Non-Executive Director and likewise his resignation will take immediate effect.
Commenting on the resignations, Chairman, Bob Buchan said: "The Board would like to thank Dave for his considerable contribution to Touchstone during his tenure. He has built an excellent team and we can look forward to a seamless handover as we continue to develop our gold properties in Colombia. We wish him well in his future endeavours. The board would also like to thank Lord Clanwiiliam for his contribution to the company and express its appreciation for his skill and diligence in the performance of the role of Independent Non-Executive Director."
About Touchstone Gold Limited
Touchstone Gold Limited (TSX:TCH)(AIM:TGL) is a gold exploration company with a highly-prospective gold project in the Segovia District of Colombia. The Company's Segovia Gold Project hosts a high-grade near-surface gold deposit, Rio Pescado Deposit, which spans along 15km+ of potential strike length. Only 5% of the Company's property has been drilled to date and several identified target zones, which hosts high-grade gold geochemical anomalies is due to be drilled in the near-term. A maiden NI 43-101-compliant resource estimate on the Company's project is scheduled to be released by the end of 2013.
With a philosophy of creating value by the systematic exploration and development of Touchstone's existing assets as well as the acquisition of suitable exploration and development mineral projects, Touchstone's long-term intention is to build a significant gold exploration and production company.
For additional technical information on the Rio Pescado Deposit, please refer to the Company's technical report (the "Technical Report") entitled "Technical Report on The Rio Pescado Gold Property, Republic of Colombia" dated June 30, 2012, prepared by Peter A. Christopher PhD., P.Eng. of PAC Geological Consulting available on SEDAR at www.sedar.com and on the Company website at www.touchstonegold.com.
Cautionary Note Regarding Forward-Looking Information
Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking information which includes management's assessment of Touchstone's future plans and operations and are based on Touchstone's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking information may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking information may necessarily involve known and unknown risks and uncertainties, which may cause Touchstone's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Touchstone's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of resources and reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt exploration and development, including labour stoppages and severe weather conditions; and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Touchstone undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.