PGK

PNG Gold Corporation ("PNG Gold" or the "Company") (TSX VENTURE:PGK) is pleased
to announce that effective immediately, Bryan Nethery has joined the board of
directors of PNG Gold. Mr. Nethery is a metallurgical engineer and Professional
Engineer (BC) who has over 30 years of domestic and international senior
management and metallurgical engineering experience. He has extensive experience
in all aspects of mining project development including scoping studies,
pre-feasibility studies, "bankable" feasibility studies, metallurgical studies,
valuations, due diligence studies, plant design, construction, commissioning and
launching start-ups. He was a Vice President of AMEC from 1994 to 2005. Mr.
Nethery is fluent in Spanish and has extensive international mining experience.
Since 2005, Mr. Nethery has been active in mining project development and
management as a director and/or officer of various mining and resource related
companies and has been president of a private mining company. In 2009, Mr.
Nethery assisted Invecture S.A. in the acquisition of Frontera Copper
Corporation and subsequently became CEO and led the re-start of this difficult
mine, successfully re-evaluating, redesigning, and modifying the operation to
achieve its target 70M lb year Copper production Piedras Verdes (PV) Mine in
Mexico. The PV operation has recently expanded its LOM to 2 billion lbs of Cu
and with the new flotation plant will produce 120 million lbs Copper/year. 


The Company is also pleased to reports that Rick Low has been appointed Chief
Financial Officer effective September 18, 2012 replacing Michael Reimann who has
held that position since completion of the Company's business combination with
NMC Mining Corp. announced on June 13, 2011. Mr. Low has over 20 years of
progressive management experience in various industries in Canada and overseas.
Mr. Low spent the last six years in the mining industry where he oversaw the
finance and accounting function for a gold mining project during its progression
from exploration, feasibility, construction and development through to
commercial production. Mr. Low has also participated in raising various debt and
equity financings and applications for listing on stock exchanges. Most
recently, Mr. Low was the Director of Finance at Eco Oro Minerals Corp.
(formerly, Greystar Resources Ltd.) and prior to that, was Vice President
Finance at China Gold International Resources Corp. Ltd (formerly, Jinshan Gold
Mines Inc. - a subsidiary of Ivanhoe Mines Ltd.). Mr. Low is a qualified
Chartered Accountant with the Institute of Chartered Accounts of B.C. and
graduated with a B. Comm. degree from the University of British Columbia.


"I look forward to working with Rick, his particular hands on expertise in all
aspects of finance in this changing mining environment will be most relevant for
the aggressive exploration and development of our Papua New Guinea assets. I
also wish to thank Mr. Reimann for his unwavering service over the past year and
wish him the very best with his other business interests," said Mr. Clarkes.


Two of the four new diamond drills the Company recently purchased are
anticipated to commence drilling next month with the remaining two drill rigs to
come on stream a few weeks later. The expectation is that once all four drills
are in operation the Company will be capable of drilling on average over 10,000
metres/month. The main focus of this drill program is to better define and
extend the Imwauna zone along strike and to depth and to evaluate several gold
in soil geochemical targets in the area.


Lorne Warner, P.Geo, Interim Chief Executive Officer of PNG Gold, is a qualified
person in accordance with National Instrument 43-101, and has reviewed and
approved the technical information contained in this news release.


The Company also reports that it has granted a total of 5,975,000 five year
stock options with an exercise price of $0.35 each to various directors,
officers, employees and consultants. These options will vest as to 34% on the
date of grant, 33% on the first anniversary, and 33% on the second anniversary.
The stock options are granted pursuant to the Company's Stock Option Plan. The
maximum aggregate number of shares that may be reserved for issuance under the
Option Plan at any point in time is 10% of the then outstanding shares. This
grant of options is subject to acceptance by the TSX Venture Exchange.


About PNG Gold Corporation

PNG Gold Corporation is an exploration company with an advanced stage drilling
program in Papua New Guinea. PNG Gold holds a 100% interest in the Imwauna and
Sehulea properties on Normanby Island, Milne Bay Province, Papua New Guinea, and
trades on the TSX Venture Exchange under the symbol PGK. PNG Gold's mission is
to become the premier exploration and development company in Papua New Guinea.


ON BEHALF OF THE BOARD OF DIRECTORS OF PNG GOLD

Greg Clarkes, Chairman & Director 

PNG Gold Corporation

The securities have not been registered under the United States Securities Act
of 1933, as amended, or any state securities laws and may not be offered or sold
in the United States absent registration thereunder or an applicable exemption
from such registration requirements. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy any of the securities in
the United States.

PNG Gold Corporation (TSXV:PGK)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

PNG Gold Corporation (TSXV:PGK)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024