Fairmile Appoints New President And Reduces Overhead
FAIRMILE GOLD CORPORATION
January 18, 1999
ASE: FLA
Fairmile Appoints New President And Reduces Overhead
Vancouver, BC - The Directors of Fairmile Gold Corporation (Fairmile, ASE: FLA) have appointed Joseph Anthony Kizis, Jr. President and Chief Executive Officer of the Corporation. Mr. Kizis replaces Thomas R. Kelly, who has resigned to pursue other interests. Mr. Kelly will remain a Director of the Corporation. The Corporation also announces effective immediately a 15% reduction in salary and consulting rates for the Corporations employees and principal consultants, and the reduction or elimination of certain overhead expenses. These reductions are deemed necessary considering the currently depressed market conditions in the gold industry.
Mr. Kizis is an economic geologist with Bachelors and Masters degrees in Geology, and has been involved with the Corporation since 1995. He has been Vice-President of Exploration and a Director since March of 1996. Under Mr. Kizis' guidance, Fairmile has increased the resource at its wholly owned Buffalo Valley Project from approximately 45,000 ounces of gold to +600,000 ounces of gold (20,664,503 tons averaging 0.029 oz. Au/ton). Mr. Kizis was also responsible for acquiring the Highland project, a bonanza-type epithermal gold prospect. Both prospects are located in Nevada.
The Corporation continues to seek joint-venture partners for its Buffalo Valley and Highland Projects, and continues to evaluate new opportunities. For further information visit Fairmile's Web Site at fairmile.com or contact Investor Relations at 1-888-599-6777.
"J. Michael Mackey"
J. Michael Mackey, Chairman
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
Telephone: 1-888-599-6777 Toll Free
Fax: (604) 608-2949 |
