|March 09, 2015|
Candente Gold Appoints Paul H. Barry as Chairman
|Vancouver, British Columbia, March 9th, 2015. Candente Gold Corp. (TSX: CDG) ("Candente Gold" or "Company") is pleased to report that Paul H. Barry has been appointed Chairman of the Board of Directors of the Company.|
"Paul's tremendous experience in global operations, strategy and capital raising has been instrumental in our advancement of the Tailings project at El Oro, Mexico this year. Paul's appointment as Chairman strengthens our Board of Directors and ensures that we have the leadership needed to enhance shareholder confidence and ensure that all parties are aligned towards achieving cash flow from the Tailings," commented Joanne Freeze, President and CEO of Candente Gold.
"Paul has brought a strong focus on shareholder value creation throughout his business career. Having worked with Paul at Duke Energy Corporation (NYSE: DUK), the largest electric utility in the U.S., where he was President, Duke Energy Americas, and Chief Development Officer, I am confident that he will provide exceptional strategic focus and leadership to Candente Gold," added Jane Sadowky. Ms. Sadowsky retired from Evercore Partners as a Senior Managing Director in 2011, after more than 22 years as an investment banker, and currently serves as Company Director, Yamana Gold Inc. (TSX: YRI).
Mr. Barry has over thirty years of management experience and has served in senior executive roles for several of the world's largest mining and energy companies. Previously, Mr. Barry served as Executive Vice President and Chief Financial Officer of Kinross Gold Corporation (TSX: K) where he oversaw $16.5 billion of assets, raised $5 billion in new debt financing, and advised the Board regarding capital spending across four global regions. In addition, Mr. Barry has served at Duke Energy, BP/Amoco, and General Electric. Currently, Mr. Barry is Chief Executive Officer of Public Infrastructure Partners LLC (PIP), an operating platform and principal investor in the energy and mining sectors with offices in Toronto, New York, Houston, and Charlotte. PIP originates, advises, and invests in both public and private companies, and co-ventures with select private equity funds, hedge funds and merchant banks.
Mr. Barry also serves as a member of the Board of Directors of Candente Copper Corp. (TSX: DNT) in addition to several private company boards. Mr. Barry is a Senior Advisor, Mining & Metals, to Atlas Advisors, a New York City-based independent investment banking firm specializing in mergers and acquisitions and corporate finance advisory services. Mr. Barry is a member of the Board of Advisors of Orgone Development L.L.C., a Ghana power project developer focused on investing in the electrification of Sub-Saharan Africa, especially for gold mining operations. Previously, Mr. Barry served as a member of the Board of Directors for AG Industries, Inc., Trans-Elect, Inc., Potomac Electric, Delmarva Electric, and Atlantic City Electric.
Mr. Barry graduated magna cum laude from Northeastern University and received an MBA from Harvard Business School where he also attended the Executive Program and is a member of the HBS Fund Investor Society.
"I am delighted to Chair the Board of Candente Gold Corporation and look forward to providing leadership as the Company enters its next phase of growth including generation of operational cash flows," said Mr. Barry.
About Candente Gold
Candente Gold's flagship asset is El Oro, a district scale gold project encompassing the largest and most prolific high grade gold dominant silver epithermal vein system in Mexico. Modern understanding of epithermal vein systems indicates that several of the El Oro district's veins hold multi-million ounce discovery potential, particularly below and adjacent to historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres.
In addition to exploration potential at El Oro, Candente Gold has acquired the Mexican Mine Tailings Deposit. The Company's current corporate strategy is to process the tailings to generate short-term cash flow and then focus on remnant high grade mineralization left behind by historic mining and, in the future, return to exploration concentrating on 31 recently-delineated targets for new mineralized veins or zones.
Joanne C. Freeze, P.Geo., President and CEO of Candente Gold, Sean I. Waller, P.Eng., Vice President of Candente Gold are the Qualified Persons as defined by NI 43-101 for the project discussed above and have read and approved the contents of this release.
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to information regarding the processing of tailings to generate near-term cash flow, other statements that are not historical facts. While such forward-looking information is expressed by Candente Gold in good faith and believed by Candente Gold to have a reasonable basis, they address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Candente Gold's MD&A. Factors that cause actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Candente Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Candente Gold Corp.
"Joanne Freeze" P.Geo.
President & CEO
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