Guyana Frontier Announces Corporate and Administrative Changes
July 05 2012 - 2:10PM
PR Newswire (Canada)
VANCOUVER, July 5, 2012 /CNW/ - Guyana Frontier Mining Corp.
("Guyana Frontier" or the "Company") announced today the following
administrative and corporate changes. Mr. Khalid Amlani has
resigned as Chief Financial officer to pursue other business
interests. Mr. Amlani will continue to consult to the Company on a
time-to-time basis. Mr. Evangelos (Gelly) Gnissios, Corporate
Secretary for the Company, will assume the role as acting Chief
Financial Officer until a successor is recruited. Guyana Frontier
thanks Mr. Amlani for his contributions to the business affairs of
the Company and looks forward to his consulting role. Mr. Warren
Stanyer, President and CEO, and Chairman of the Company will reduce
his role to a half-time position effective July 1, 2012, with a
reduction in salary. Due to the current state of capital markets,
Guyana Frontier has made other staff reductions in Canada and
Guyana to lower office and administrative overhead, and plans to
continue to streamline its business activities. The Company wishes
to announce that it has made stock option grants to officers,
employees and consultants totaling 1,300,000 shares at an exercise
price of $0.12 for a period of five years, expiring July 5, 2017.
About Guyana Frontier Guyana Frontier is a public mineral
exploration company listed on the TSX Venture Exchange , and is
focused on the exploration, discovery and development of precious
metals deposits located within Guyana, South America. Guyana
Frontier began acquiring interests in Guyanese exploration
properties in 2007, and now holds various rights to obtain working
interests in approximately 342,000 acres (138,400 hectares) of
prospective lands. Guyana Frontier's main exploration asset is the
Marudi Mountain Gold Project, which was the subject of extensive
historical exploration, and has recently been the focus of a
diamond drilling program. Guyana Frontier's goal is to develop a
significant gold resource at the Marudi Mountain Gold Project, and
to explore its other Guyanese projects using funding from
exploration partners. Neither the 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. Forward Looking
Statements This news release contains forward-looking statements
that are based on Guyana Frontier's current expectations and
estimates. Forward-looking statements are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without limitation, statements regarding
Guyana Frontier's plans with respect to the exploration and
development of its projects. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ materially from
estimated or anticipated events or results implied or expressed in
such forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, Guyana Frontier
disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or
results or otherwise. Forward-looking statements are not guarantees
of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
Guyana Frontier Mining Corp. CONTACT: For further information about
Guyana Frontier, please visit ourwebsiteat www.guyanafrontier.com
or contact Warren Stanyer, President and CEO,at (604) 558-0077.
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