VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2011) - Batero Gold Corp. (TSX VENTURE:BAT) is pleased to announce the appointment of Dr. Darryl Lindsay as Chief Operating Officer effective October 18, 2011. Dr. Lindsay brings 20 years as an exploration geologist and project manager for major porphyry mineral development programs in South America from inception through to feasibility. Most recently, as part of his project management work, Dr. Lindsay designed, administered and directed social and environmental programs to secure operational permits for Corriente Resources which was sold in 2010 to CRCC and Tongling Nonferrous Metals Group (CRCC Tongguan) for $678M. Previously, he worked in a variety of consulting roles for SRK Consulting, CODELCO, and the Geological Survey of Canada (GSC).
Dr. Lindsay continued his career after working at the Geological Survey of Canada and obtaining a Ph.D. in Earth Sciences for his work defining the structural controls of mineralization within a porphyry style mineralized system in northern Chile. Since then, he has concentrated on structural modeling of porphyry deposits, identifying structural controls for exploration target generation, and drill targeting for a variety of mineralization styles, including porphyry and epithermal copper and gold deposits in Ecuador, Chile, Argentina and Bolivia. Most recently for CRCC Tongguan, he has directed all facets of exploration and development of the Ecuadorian asset package including the flagship Mirador Project, where his development work established a significant increase in resources to support an initial 60ktpd operation with a planned expansion to 120ktpd. His work contributed to the sale of Corriente to CRCC Tongguan, a major international Chinese resource corporation, the technical, social-environmental work permitting, and the initiation of exploitation contract negotiations with the government of Ecuador. These achievements were made despite the extremely challenging social, political and environmental conditions that have prevailed in Ecuador since 2008.
Options to purchase 225,500 shares at a price of $1.85 for a term of 5 years have been granted to Dr. Lindsay.
"Dr. Lindsay´s success in the conception, management and completion of major mineral development projects in South America identifies him as the ideal leader entering into the next phase at the Batero-Quinchia project," said Mr. Rook. "His demonstrated ability to direct major resource development programs, in all their geological, social and environmental dimensions, enhances the confidence of all of us engaged in the efforts to identify a world-class gold and copper deposit at the Batero-Quinchia project."
ON BEHALF OF THE BOARD OF BATERO GOLD CORP.
Brandon Rook, President CEO
About Batero Gold:
Batero Gold Corp. (TSX VENTURE:BAT) is a well-capitalized Vancouver-based precious and base metals exploration and development company focused in Colombia's emerging and prolific Mid-Cauca porphyry gold and copper belt. Batero is located within the Quinchia district and has 100% ownership in the Batero-Quinchia Project, comprising a 1407 hectare tenement. The Batero-Quinchia Project includes three known gold-copper porphyry centres. The Quinchia district and Batero's project is considered socially stable and mining friendly and is supported with a comprehensive infrastructure network. Batero has assembled a strong management and technical team in Colombia that has contributed to numerous significant discoveries throughout Colombia. Batero plans to leverage its strong share structure with strategic local and regional relationships, and long-term financial partners, to develop its prospective project into what the Company believes will be Colombia's next major mining venture.
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information" Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward-looking statements or information relate to, among other things: the timing and scope of expected diamond drilling; the timing of the delivery of a resource estimate on the Batero-Quinchia project; potential existence and size of mineralization within the Batero-Quinchia project; timing of receipt of permits and regulatory approvals; the sufficiency of the Company's capital to finance the Company's operations; geological interpretations and potential mineral recovery processes.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia or other countries in which the Company may carry on business in the future; the uncertainties involved in interpreting geological data; business opportunities that may be presented to, or pursued by, the Company; operating or technical difficulties in connection with mining activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks).
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Filing Statement dated as of June 22, 2010 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.