Great Basin Announces Changes to the Board
July 22 2009 - 8:30AM
PR Newswire (US)
VANCOUVER, July 22 /PRNewswire-FirstCall/ -- Great Basin Gold Ltd.
("Great Basin" or the "Company") (TSX: GBG; NYSE Amex: GBG; JSE:
GBG) announces the resignation of Mr. Sipho Nkosi from its Board of
Directors, effective July 17, 2009 consequent upon the Company's
recent adoption of its majority votes policy. Mr. Nkosi, who is the
Chief Executive Officer of Exxaro Resources Limited and is
currently the President of the Chamber of Mines of South Africa,
had represented the Company's Black Economic Empowerment ("BEE")
partner, Tranter Gold (Pty) Ltd ("Tranter"), on the Great Basin
Board. Mr. Nkosi has agreed to be available to Great Basin to give
advice on matters relating to its South African operations as a
consultant as and when required. Mr. Joshua Ngoma, a founding
member and the current Chief Executive Officer of Tranter, has been
elected to the Board of Great Basin, effective July 15, 2009. Mr.
Ngoma holds a Bachelor of Engineering degree with honours in mining
engineering from Camborne School of Mines in the UK and a Master of
Engineering in Project Management from Pretoria University in South
Africa and has spent most of his career in the mining industry. He
served with ZZCM, Cementation Mining, De Beers and Sasol Mining
before joining Eyesizwe Coal, where he served from Group Technical
Manager to General Manager of the Matla Colliery. He later joined
Anglo Platinum as the Group Manager: New Mining Technologies, where
he was responsible for the development and implementation of the
Group's new mining technologies. In addition to being CEO, he is
currently a director of Tranter Group of companies, as well as
Southgold Exploration (Pty) Ltd, a wholly owned subsidiary of Great
Basin, and Ferret Mining and Environmental Services, where he is
Chairman of the Board. President and CEO Ferdi Dippenaar commenting
on the change said: "On behalf of the Board, I would like to thank
Sipho for his years of service to the Company. The value he added
went far beyond merely being the representative of our BEE partner
and we are thankful that he has agreed to his continued assistance
on a consulting basis. I am very pleased to welcome Joshua Ngoma, a
person with technical and operating expertise, to the Great Basin
Board. We are convinced that his addition to the Board will greatly
assist the Company in the advancement of Burnstone and its goal to
become a mid-tier gold producer in the near term." Ferdi Dippenaar
President and CEO No regulatory authority has approved or
disapproved the information contained in this news release.
Cautionary and Forward Looking Statement Information This release
includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements
of historical facts, that address possible future commercial
production, reserve potential, exploration drilling results,
development, feasibility or exploitation activities and events or
developments that Great Basin expects to occur are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and those actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's annual Form 40-F filing with the United States
Securities and Exchange Commission and its home jurisdiction
filings that are available at http://www.sedar.com/. DATASOURCE:
Great Basin Gold Ltd. CONTACT: on Great Basin and its gold
properties, please visit the Company's website at
http://www.grtbasin.com/ or contact Investor Services: Tsholo
Serunye in South Africa, 27 (0) 11 301 1800; Michael Curlook in
North America 1-888-633-9223; Barbara Cano at Breakstone Group in
the USA, (646) 452-2334
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