HALIFAX, NOVA SCOTIA--(Marketwire - June 29, 2010) - Gregory Isenor, P.Geo., director of Frontline Gold Corporation. ("Frontline") (TSX VENTURE:FGC) announces changes to the executive management team.
Commentary
"On behalf of our board of directors and the executive officers I want to welcome Walter Henry as President and CEO" commented Frontline director and past president Gregory Isenor. "I have worked with Walter on the boards of directors of both Merrex Gold Inc. and Frontline and know the breadth and depth of public company abilities that Walter will bring to our executive team. With Walter's close connection to Frontline I anticipate an effortless transition of the presidency. We all very much look forward to working with him."
Management Reorganization
The executive management team of Frontline is being restructured. The restructuring will include a new full-time president and CEO and a new position of Executive Vice-President Exploration. The head office of Frontline will be moved to Toronto. It has always been the intention to secure a full-time president and CEO and these changes will provide the company better access to the Toronto financial markets and will result in a more market responsible company. The creation of a segregated Vice-President Exploration will allow for increased focus on the company's exploration projects. Additionally, a restructuring of the board of directors is being planned. Board changes will be announced as soon as the restructuring is completed.
Changes to Executive Team
Gregory Isenor has resigned as President and CEO. Mr. Isenor will remain actively involved as Frontline's formal Executive V-P Exploration. This newly established office formally recognizes a function which Mr. Isenor has been conducting since January, 2010 in addition to his duties as Frontline's President and CEO. Mr. Isenor will also continue in his role as President & CEO of Merrex Gold Inc.
Walter Henry has been appointed President and Chief Executive Officer.
Mr. Henry has served on the boards of directors of Merrex Gold Inc. since 2006 and Frontline since 2009 and is well-acquainted with the other Frontline executive and directors facilitating a seamless transition of the executive offices.
Mr. Henry is a Chartered Financial Analyst and has previously held the positions of Vice-President, Finance and Chief Financial Officer of Royal Nickel Corp., CFO for Juno Special Situations Corp., Alturas Minerals Corp. and Tiberon Minerals Ltd., and Assistant Vice President, Mining and Infrastructure, within the Financial Advisory Services Group of Price Waterhouse Coopers Securities Inc. He is also a Director of Merrex Gold Inc. Mr. Henry has extensive experience in the areas of International Project Financing, Capital Markets Financing, Commercial Bank Financing, Financial Reporting, Controls and Taxation Matters, Treasury and Financial Risk Management and Public Corporation Investor Relations.
Finally, while Frontline's head office will remain in Halifax for the immediate term, management does intend to relocate Frontline's head office from Halifax to Toronto as soon as the appropriate infrastructure is put in place. Halifax will remain the primary exploration office.
Frontline is a Mali focused gold exploration company with experienced management, a solid exploration team and a promising new African gold project offering investors an excellent opportunity.
Please visit our website at [ www.frontlinegold.com ] for the most recent presentation.
On Behalf of the Board
Gregory Isenor, P.Geo., Director
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.