From the Wires
GoldSands Development Company Appoints new CEO and makes board changes
Dec. 3, 2012 09:59 PM
LIMA, PERU -- (Marketwire) -- 12/03/12 -- (GoldSands Development Company: GSDC) announces
that on November 26th, 2012 Mr. Christian Gomez was appointed as CEO and
director of the Company. Also on that date Board members Alois Wiget, Peter
Wiget, Dutch Van Tassel and Michael Stocker resigned from the board. The
company
is now reviewing its options to determine next steps and possibly seek new
partners to develop the company's mining concessions in Peru.
About GoldSands Development Company
The Company's goal is to fully develop its Peruvian GoldSands project. The
Company's GoldSands project in Peru consists of options on 461 square
kilometers
(178 square miles) of mining property, the largest such block in the
district.
For thousands of years, the waters of the Santiago and the
Marañón rivers have
been carving their way through the gold-rich mountain canyons of the Andes,
carrying off gold and depositing it, as the river comes out into the plain,
in
the loose gravels and sands -- GoldSands -- in the area the Company now
controls.
Results from test holes drilled during GoldSands' exploratory drill program
indicated the presence of alluvial gold in economical quantities. While the
Company considers results from the drill programs and test mining
production to
be favorable, the Company cautions that these results do not indicate the
presence of a commercially viable mineral deposit over most of the area and
an
extensive amount of further exploration and funding is needed to determine
the
full feasibility of the project.
The Company completed a social baseline study involving a series of
meetings
with local residents and other stakeholders in the region. The Company
intends
to work in an equitable, transparent, and socially responsible manner with
local
communities, suppliers and employees. The Company is committed to acting as
stewards of the local and regional ecological systems, behaving in an
environmentally responsible way, leaving a minimal "footprint" as a result
of
our operations. The Company is working towards building trust and
sustaining
relationships that go well beyond mining operations. The full
implementation of
these programs will require the Company to secure additional financing.
Further information about GoldSands Development Company may be found at:
www.goldsandsco.com.
On behalf of the Board:
Patrick Gorman, Chairman
GoldSands Development Company
Disclaimer
This release contains forward-looking statements that are based on beliefs
of
GoldSands Development Company management and reflect GoldSands Development
Company's current expectations as contemplated under section 27A of the
Securities Act of 1933, as amended, and section 21E of the Securities and
Exchange Act of 1934, as amended. When we use in this release, the words
"estimate," "project," "believe," "anticipate," "intend," "expect," "plan,"
"predict," "may," "should," "will," "can," the negative of these words , or
such other variations thereon, or comparable terminology, are all intended
to
identify forward looking statements. Such statements reflect the current
views
of GoldSands Development Company with respect to future events based on
currently available information and are subject to numerous assumptions,
risks
and uncertainties, including but not limited to, risks and uncertainties
pertaining to development of mining properties, changes in economic
conditions
and other risks, uncertainties and factors, which may cause the actual
results,
performance , or achievement expressed or implied by such forward looking
statements to differ materially from the forward looking statements. The
information contained in this press release is historical in nature, has
not
been updated, and is current only to the date shown in this press release.
This
information may no longer be accurate and therefore you should not rely on
the
information contained in this press release. To the extent permitted by
law,
GoldSands Development Company and its employees, agents and consultants
exclude
all liability for any loss or damage arising from the use of, or reliance
on,
any such information, whether or not caused by any negligent act or
omission.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: GoldSands Development Company via Thomson Reuters ONE
[HUG#1662309]
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