TORONTO, August 30, 2012 /PRNewswire/ --
- also strengthens financial team -
Volta Resources Inc. ("Volta" or the "Company") (TSX:VTR) is pleased to announce the appointment of Mr. Steve Poad to the position of CFO and Corporate Secretary of the Company, effective September 1, 2012.
Mr. Poad is a Chartered Accountant and has over 30 years of mining industry experience with a variety of companies including the Falconbridge Group, which is now part of Xstrata. His international experience includes involvement with operations in Africa, Europe, Asia and South America. Mr. Poad is the former CFO of Excellon Resources Inc., which has a high-grade silver mine in Mexico, Colossus Minerals Inc., which is developing the high-grade Serra Pelada gold project in Brazil, and High River Gold Mines Ltd., which operates gold mines in Burkina Faso in West Africa and Siberia in Russia. Mr. Poad holds an Honours Bachelor of Commerce degree from McMaster University and became a chartered accountant in 1976.
Volta is also pleased to announce the appointment of Loren Pitton to the position of Manager, Financial Reporting effective September 17, 2012. Ms. Pitton has over 6 years of relevant experience, most recently as Manager, Audit with KPMG LLP.
Kevin Bullock, Volta Resources CEO said "we are pleased to have been able to attract such quality people to add to our team as we plan for our transition from explorer through development and into production."
Volta Resources has a portfolio of quality gold exploration projects in Burkina Faso and Ghana, both mining-friendly West African jurisdictions with proven world-class gold deposits. VTR will focus on fast-tracking its flagship Kiaka Gold Project (NI-43-101 compliant resources include 117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t Au for 1,000,000 ounces in the Inferred category [Please see VTR press release dated March 21, 2012] including 34.38 million tonnes @ 1.04 g/t Au for 1,145,969 ounces of gold in the Proven category and 91.70 million tonnes @ 0.93 g/t Au for 2,742,353 ounces of gold in the Probable category [Please see VTR press release dated May 3, 2012]) towards a development decision, aiming to complete a Feasibility Study in Q2, 2013. Recent acquisition of properties around Kiaka have provided VTR with an extensive ground position along the highly prospective Markoye Fault Corridor in an important emerging gold province.
Forward Looking Information Caution:
This press release presents "forward-looking statements" within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Volta Resources to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Volta Resources believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Volta Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
For further information:
please refer to our website http://www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Andreas Curkovic, Investor Relations
SOURCE Volta Resources Inc.