Director Appointment

RNS Number : 2599B

Ovoca Gold PLC

13 April 2012

 

Ovoca Gold plc ("Ovoca" or the "Company")

Director Appointment

Ovoca announces the appointment to its Board of Kirill Andreyevich Golovanov (34) as a Non-Executive Director with effect from 12 April 2012. Mr. Golovanov currently serves as the Company's Corporate Secretary as well as the head of the Russia Office.

Mr. Golovanov joined Ovoca as a corporate advisor in 2007 and moved to be the manager of the Company's Russia representative office in 2009. During his time at Ovoca he played a major role in the development and subsequent sale of the Goltsovoye silver deposit. He has extensive experience in mining and corporate law, as well as working experience at leading Russian enterprises, such as Gazprombank and Vneshekonombank. Additionally, he was a department manager in the Federal Service on Bankruptcy and Finance Restoration - a subdivision of the Russian Federation Ministry of Finance.

Mr. Golovanov holds a JD from Moscow State Legal Academy in Moscow, Russia. He is also on track to graduate from Duke University's Fuqua School of Business Executive MBA program in July 2012. Mr. Golovanov is fluent in Russian and English.

Tim McCutcheon, CEO, comments: "Kirill has served Ovoca for many years and the Board welcomes his appointment to be a fellow member. He is very adept at managing people and processes, and our recent reception of the Olcha exploitation license was in many ways due to his hard work."

As at 12 April 2012, Mr. Golovanov holds 1,800,000 share options exercisable at 25 pence, with the exercise period ending 20 January 2017.

Mr Golovanov is a director/partner or has been a director/partner of the following companies/partnerships during the past five years:

Current Directorships and Partnerships:

Khabarovsk Geological Expedition Ltd.

Directorships and Partnerships held in past five years:

CJSC North East Resources                               June 2007 to May 2009

There is no further information that is required to be disclosed pursuant to Schedule Two paragraph (g) of the ESM Rules or AIM Rules in relation to Mr. Golovanov.

Notes to Editors

Ovoca Gold PLC ("Ovoca" or "the Company") is a mineral exploration and mine development company listed on the AIM market of the London Stock Exchange (Ticker: OVG) and on the ESM market of the Irish Stock Exchange (Ticker: OVX). The Company's principal activity is gold exploration in the Magadan Region of the Russian Federation. Previously Ovoca acquired, developed and sold to JSC Polymetal the Goltsovoye silver project located in the Magadan Region. Currently, Ovoca is aggressively exploring and developing its 100 per cent owned Stakhanovsky and Rassoshinskaya licenses.

Stakhanovsky is located approximately 40 kilometres north of Susuman, the second largest city in the Magadan region. It is accessible by year-round road and there is power infrastructure on site. Stakhanovsky's initial independently established resource was announced in an RNS on 2 February 2011 and is available on the Company's website. The Company intends to put Stakhanovsky into production by 2014.

Rassoshinskaya is in the North Eastern part of the Magadan Region about 200 kilometres from the town of Seimchan. There is no nearby infrastructure. Rassoshinskaya hosts an epithermal gold deposit named Olcha, which is the focus of Ovoca's exploration program. Olcha and nearby satellite deposits have the potential to host a high grade multi-million ounce gold resource. Olcha's latest independently established resource was announced in an RNS on 7 July 2011 and is available on the Company's website.

Ovoca Gold Plc

Timothy McCutcheon [phone] [e-mail] 

Davy - NOMAD and joint broker

John Frain [phone]

Fairfax I.S. PLC - joint broker

Ewan Leggat/Laura Littley [phone]

 

END

 

 

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