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Crew Gold Corporation (Other OTC: CRUGF.PK) Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Press Release - 28th July 2008
LONDON, United Kingdom: Crew Gold Corporation ("Crew" or "the Company") (TSX: CRU) (OSE: CRU) (Frankfurt: KNC) (OTC-BB-Other; CRUGF.PK) today announced:-
Staff Appointments
Crew is pleased to announce the following appointments:
Andrew Pardey - Global Exploration Manager Wayne Nicoletto - Global Process Manager Ian Moody - Global Mobile Equipment Manager
Andrew Pardey, Wayne Nicoletto and Ian Moody join Andrew Abbott (Global Maintenance Manager) and Geoff Roberts (Global Materials Manager) on the senior technical team supporting the company's operations in Guinea, Greenland, Newfoundland and the Philippines.
Andrew Pardey holds a BSC in Geology and brings over 20 years experience in the mining and exploration industry. He has been the Chief Geologist at LEFA for the past 5 years and prior to that he was the Geology Manager for Anglogold Ashanti's Siguiri operation. Andrew brings extensive exploration knowledge, resource modelling and reserve reporting experience to the company. He has also held senior positions in Australia. In addition to having the Chief Geologist at LEFA reporting to him, Andrew will be responsible for the Greenfield exploration projects at Glover Island, Newfoundland and Wa, Ghana and the exploration projects at Maco and Nalunaq.
Wayne has joined Crew during this past week. He has a BSC in extractive metallurgy and a graduate degree in mining. Wayne has over 25 years experience in mining and prior to joining Crew was the Vice President, Operations for the Boroo Gold Company in Mongolia. Wayne has held senior positions in operations in Australia, Africa, Central Asia and Canada.
Ian has spent the last 2 years developing systems and training operations staff at the Maco mine. He has over 30 years experience in the industry including operational experience with contractors, owner miners and OEM suppliers. Ian's hands-on experience in both above and underground operations is invaluable.
CEO, Jan Vestrum comments "We are very pleased to include these very experienced individuals on the Crew senior technical team. In addition to good ore bodies, experienced technical people are essential to the success of any mining company. These appointments help us ensure the success of our existing operations in addition to giving us the depth of experience to properly evaluate and develop new projects."
Jan A Vestrum President & CEO
Safe Harbour Statement Certain statements contained herein that are not statements of historical fact, may constitute forward-looking statements and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where Crew is conducting business and/or investor relations. Forward-looking statements, include, but are not limited to those with respect to (1) the price of gold, (2) the estimation of mineral reserves and resources, (3) the realization of mineral reserves estimates, (4) the timing and amount of estimated future success of exploration activities, (5) the timing and amount of production estimates, (6) targeted production cash costs and forecasted cash reserves, (7) Crews hedging practices, (8) currency fluctuations, (9) requirements for additional capital, (10) government regulation of mining operations, (11) environmental risk, (12) title disputes or claims limitations on insurance coverage and (13) the timing and possible outcome of pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as plans, expects, does not expect, is expected, targets, budget, estimates, forecasts, intends, anticipates or does not anticipate, or believes, or equivalents or variation, including negative variation, of such words and phrases, or state that certain actions, events or results, may, could, would, might or will be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, (1) the actual results of current exploration activities, conclusions of economic evaluations, (2) changes in project parameters as plans continue to be refined, (3) possible variations in grade and ore densities or recovery rates, (4) failure of plant, equipment or processes to operate as anticipated, (5) accidents, labour disputes and other risks of the mining industry, (6) delays in obtaining government approvals or financing or in completion of development or construction activities. Although Crew has attempted to identify important factors that could cause actual actions, events or cause actions events or results not to be anticipated, estimated or intended, there can be no assurance that forward looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.
The material factors and assumptions used to develop forward-looking statements which may be incorrect, include, but are not limited to, (1) there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, damage to equipment or otherwise, (2) continued development, operation and production at LEFA, Nalunaq and Maco consistent with our current expectations, (3) foreign exchange rates among the currencies the Crew does business in being approximately consistent with current levels, (4) certain price assumptions for gold, (5) prices for electricity, fuel oil and other key supplies remaining consistent with current levels, (6) production forecasts meeting expectations, (7) the accuracy of our current mineral reserve and mineral resource estimates, and (8) materials and labour costs increasing on a basis consistent with Crews expectations.
Except as may be required by applicable law or stock exchange regulation, the Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.
Cautionary Note to US investors The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this document, such as measured, indicated, and inferred resources, which the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC. US Investors are urged to consider closely the disclosure from the SECs website at http://www.sec.gov/edgar.shtml. --- End of Message ---
