GIG HARBOR, Wash., March 19, 2013 /PRNewswire/ -- LKA Gold Incorporated (OTCQB: LKAID) announced today the addition of two independent, industry experts to its Board of Directors, Mr. Francois Viens and Mr. Sean Tingey.
Francois Viens is the former Vice President of Business Development and Exploration for Cambior, Inc., a major Canadian gold producer, prior to its acquisition by IAMGOLD Corp. Previously Mr. Viens was Vice President Exploration for Ariane Gold and Hope Bay Gold Corp. and most recently, CEO of Bear Lake Gold. Mr. Viens is a geological engineer with extensive experience developing multi-million ounce gold deposits around the world. Mr. Viens recommended and received Board approval for a $36 million Cambior-LKA joint venture to explore and develop the Golden Wonder in 2007. Cambior's acquisition shortly thereafter prevented the joint venture from being finalized.
Sean Tingey, CPA, is currently Director, Performance Management and former Controller, Metals Recycling & Steel Manufacturing at Schnitzer Steel Industries, Inc., a global leader in the recycling of ferrous and non-ferrous metals. Previously Mr. Tingey was Internal Audit Director at PacifiCorp (a Berkshire Hathaway subsidiary) and Technical Accounting & Business Controls Manager at Interwest Mining, PacifiCorp's Fuel Resources Unit. Mr. Tingey was a former Audit Manager at LKA's auditor, HJ & Associates and held Senior Auditor positions at Arthur Andersen and Deloitte & Touche.
According to LKA Chairman, Kye Abraham, "We are extremely pleased to have these gentlemen join the LKA Board as we expand our exploration program at the Golden Wonder. Both men are familiar with our operations and have been valued advisors to LKA for a number of years."
Mr. Viens and Mr. Tingey will join the LKA Gold Board of Directors on April 15, 2013.
About LKA Gold & The Golden Wonder Mine
From 1998 through the second quarter of 2006, LKA's Golden Wonder mine, with a single mining crew, produced over 133,701 ounces of gold from ore with an average grade of 16.01 oz. (453.8 grams) per ton making it one the richest gold mines in North America. In 2009, LKA commenced an exploration program to re-establish reserves and return the mine to commercial production. Since then, LKA's has shipped bulk ore samples containing more than 2,942 ounces of gold resulting in net gold sales of $3.3 million. Average ore grades during this exploration program have exceeded 1.52 ounces (43 grams) per ton. Investors are cautioned that a commercially viable ore reserve has yet to be established and there can be no assurance that one will be.
Safe Harbor Statement
LKA's plans to resume/expand Golden Wonder production are subject to a number of conditions including, but not limited to, favorable geology, successful exploration efforts, favorable financing terms/availability, permits, gold prices, market conditions, etc. Mining and related activities are inherently high-risk endeavors and there can be no assurance that LKA will be successful. This press release contains certain forward-looking statements. Statements contained in this press release that are not purely historical are considered forward-looking. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding LKA International, Inc.'s future plans for exploration and/or production, future expenses and costs, future liquidity and capital resources, and estimates of ore, ore grades and mineralized material. All forward-looking statements in this press release are based upon information available to LKA International, Inc. on the date of this press release and the Company assumes no obligation to update any such statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's reports filed with the Securities and Exchange Commission.
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SOURCE LKA Gold Incorporated