Jun 01, 2010
EDGEWATER EXPLORATION APPOINTS GEORGE SALAMIS
Vancouver, British Columbia: Edgewater Exploration Ltd. ("Edgewater" or the "Company") (EDW: TSX-V), is pleased to announce the appointment of Mr. George Salamis as President and Chief Executive Officer of the Company effective immediately. Mr. Salamis has over 20 years of experience in mineral exploration, mine development and mine operations and was formerly President of Rusoro Mining Limited, a TSX Venture-listed junior gold producer, and CEO of Caledon Resources plc, a metallurgical coal producer in Australia. Mr. Salamis has previously held senior management positions with a number of major mining companies including Placer Dome Inc. and Cameco Corporation.
Edward Farrauto, CFO and Director stated: "We are very pleased to have Mr. Salamis join Edgewater's management team as President and CEO. George has a proven track record in advancing development-stage resource assets, managing major resource production and identifying and acquiring undervalued mining assets worldwide. He brings to Edgewater a wealth of knowledge and experience in international project development and connections to the capital markets that will greatly assist the Company."
Mr. Salamis stated: "I am very pleased to be joining Edgewater Exploration as President and CEO. Edgewater's agreement with Red Back Mining Inc. on the Enchi Gold Project in Ghana gives the Company the opportunity to rapidly advance a strategic land position in one of the most prolific gold regions of the world. We intend to build upon Red Back's successes on the Enchi Project as well as acquire additional advanced stage gold projects that are accretive to shareholder value. In addition, I look forward to successfully completing due diligence and closing on the acquisition of Lundin Mining Corporation's Malpica-Tuy Gold Project in Spain, which includes the advanced-stage Corcoesto Gold Deposit. I believe there is great potential to build on the current in-situ gold resources in this region of Spain."
In conjunction with the new senior management appointments Mr. Edward Farrauto, CGA has stepped down as President and CEO and Mr. Danny Lee has stepped down as Chief Financial Officer of Edgewater. The Company would like to thank both Mr. Farrauto and Mr. Lee for their contributions as founding executives of the Company. Mr Farrauto has been appointed Chief Financial Officer. Both Mr. Farrauto and Mr. Lee will continue as directors of Edgewater.
Edgewater is a mineral exploration company focused principally on the acquisition, advancement and development of precious metal properties on a world-wide basis.
EDGEWATER EXPLORATION LTD.
Edward Farrauto, CGA
CFO and Director
For Further information contact:
Ryan King, Vice President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
"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. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Edgewater's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements
You can view the Next News Releases item: Tue Jun 22, 2010, Edgewater Acquires Option on Red Back Mining's Enchi Gold Project, Ghana; Completes $3.0m Financing
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