Kola Mining Appoints CEO to Focus on Development of Gold Assets
May 22 2009 - 1:34PM
Marketwired
Kola Mining Corporation (TSX VENTURE: KM)(FRANKFURT: C8M) ("The
Company") announces that Mr. Victor Tskhovrebov has been appointed
as President and CEO.
Prior to joining Kola Mining, Mr. Victor Tskhovrebov was an
independent consultant specializing in infrastructure projects and
M&A in Russia. He has eight years of experience as an
investment director, investment associate and equity analyst with
JSC "Sovfracht" (a major Russian transportation company), Alfa
Capital Partners (Private equity fund) and Renaissance Capital. He
holds a Master's degree in Economics from North Caucasus Mining and
Metals Institute, 2000.
Mr. Tskhovrebov's major focus will be on the Bogunay gold
property and the implementation of the Company's development plans
for this property. Bogunay is a near term gold production property
and the company is fast tracking resumption of operations. It is
anticipated that production can resume this year. Concentrate
production is planned to be conducted by using outsource facilities
of the Artemovskaya processing plant or using our own equipment to
be bought and installed before production commences.
In addition, Mr. Tskhovrebov will lead further expansion of the
company in terms of evaluation, acquisition and development of gold
and precious metals deposits in Russia and CIS countries. With
regard to the Souker NI-Cu deposit new management of the company
will concentrate on the completion of metallurgical testing and
other ongoing technology tests.
The Board would like to thank Mr. Dubovik for his important
contribution to the company. Mr. Dubovik will continue to serve
Kola Mining on the Advisory Board.
About Kola Mining Corp.
Kola Mining Corporation is a mineral exploration company, with
offices in Moscow, Russia, and Vancouver, Canada.
The Company is engaged in the identification, acquisition,
exploration and development of precious and base mineral properties
in Russia, Eastern Europe and Central Asia. To find out more about
Kola Mining Corp., please visit the company website at
www.kolamining.com.
On behalf of the Board of Directors of KOLA MINING CORP.
Mikhail Yuryev, Chairman of the Board
Certain information in this release may contain forward-looking
statements. This information is based on current expectations that
are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from
results suggested in any forward-looking statements. The Company
assumes no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
reflected in the forward-looking statements unless and until
required by securities laws applicable to the Company. Additional
information identifying risks and uncertainties is contained in
filings by the Company with the Canadian securities regulators,
which filings are available at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or the accuracy of this release.
Contacts: Kola Mining Corporation Mikhail Yuryev Chairman of the
Board 604.694.1600 www.kolamining.com