FOR: NAXOS RESOURCES LTD.
FOR FURTHER INFORMATION CONTACT
INVESTOR RELATIONS: Jeff Sharp (913) 894 - 8509
Russell Smith (603) 891 - 5743
FOR IMMEDIATE RELEASE #98-13
NAXOS NAMES JOHN GOTH TO THE BOARD OF DIRECTORS.
Veteran Mining Engineer and Manager Added to Board.
Vancouver, British Columbia - May 14, 1998 - Naxos Resources Ltd (O.T.C. Bulletin Board: NAXOF), a precious metals and development company, today announced that John W. Goth has been appointed to the Naxos Board of Directors. Mr. Goth, 71, is currently the Executive Director of the Denver Gold Group, Vice Chairman of the Mineral Information Institute and a member of the Board of Directors of US Gold and Royal Gold Inc.
Mr. Goth spent 31 years with Amax Inc. in various executive positions in both metallurgy and sales. In 1975, he became President of the Amax Molybdenum Division and, subsequently, Corporate Vice President.
Mr. Goth holds a B.S. degree in Metallurgy from South Dakota School of Mines and a M.S. degree in Metallurgy from McGill University. He is also a graduate of the Advanced Management Program at Harvard Business School and received an Honorary Doctorate of Business Administration from the South Dakota School of Mines. He resides with his wife of 46 years in Denver, Colorado. As a recognized authority in the field of mining, Mr. Goth has authored several industry papers and was named a Fellow of the American Society for Metals.
Sidney Kemp, President of Naxos Resources Ltd., stated, "We are very fortunate to have a man of Mr. Goth's background and ability added to our board. He has been involved with the success of several gold companies during his career and his technical and managerial experience will be invaluable."
Formed in 1986 as a precious metals and development company, Naxos Resources Ltd. owns mining projects in Venezuela, British Columbia and California.
ON BEHALF OF THE BOARD
NAXOS RESOURCES LTD
Per: "Signed"
Sidney W. Kemp
President
All forward-looking statements made by Naxos involve material risks and uncertainties and are subject to change based on factors beyond Naxos' control. Accordingly, Naxos' future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, without limitation, those described in Naxos' filings with the United States Securities and Exchange Commission. Naxos does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
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