Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), "Golden Arrow" or the "Company) is pleased to announce the following executive appointments effective February 26, 2013: Mr. Carlos H. Fernandez Mazzi as President and Chief Executive Officer; Mr. Joseph Grosso as Executive Chairman; and, Mr. Michael Iannacone as Chief Financial Officer and Corporate Secretary.
Mr. Grosso stated, "I am extremely pleased to have Carlos take a leading role in Golden Arrow at such an exciting time in the Company's history. His experience and track record of successfully taking major projects forward is the skill set that is required to rapidly build Golden Arrow. As Executive Chairman, I feel confident that Golden Arrow has a formidable team in Carlos, Mike Iannacone as CFO and Brian McEwen as VP Exploration to advance our Company to the next level. I look forward to working closely with Carlos and the rest of the team and seeing our Company grow significantly."
Mr. Fernandez Mazzi commented: "I feel privileged to join Golden Arrow and to have the opportunity to capitalize on Joseph's mining leadership in Argentina since 1993. Golden Arrow is in an unparalleled position for delivering increased value to its shareholders based on a solid balance sheet, a diversified portfolio of properties and a proven results-oriented team. I look forward to working with the Board, staff and key stakeholders in unlocking the value of the Company's extensive property portfolio. In particular, I am excited to contribute expertise gained in the Bolivian silver belt area to advance the promising Chinchillas silver project."
Carlos H. Fernandez Mazzi - President & Chief Executive Officer
Mr. Carlos Fernandez Mazzi's career spans over 30 years in international business and investment banking highlighted by his leadership as Chief Executive Officer of the Bolivian subsidiary of APEX Silver Mines where Mr. Fernandez Mazzi led the strategy, financing and development of the San Cristobal project in Bolivia. With over $1.0 billion of investment, this 40,000 tpd project represented the largest mining investment in the country with substantial contributions to regional infrastructure, mining capacity and job creation. Under his leadership, the San Cristobal project gained recognition as a model for impact investing and sustainable solutions to human development through social entrepreneurship initiatives.
Mr. Fernandez Mazzi brings enormous experience having also been the Chief Executive Officer of the William J. Clinton Foundation / Clinton Giustra Sustainable Growth Initiative ("`CGSGI"), an initiative committed to narrowing the wealth gap in the developing world through market driven projects, increasing incomes and job creation while supporting health and education as the pillars of human development for sustainable growth. Mr. Fernandez Mazzi also spearheaded the launch of the ACCESO Fund LLC, a pioneer impact investment fund in Colombia.
Prior to joining Golden Arrow, Mr. Fernandez Mazzi was the President and CEO of Dicon Gold Inc., a private mining company with a focus on gold exploration in Latin America. Mr. Fernandez Mazzi earned his MBA with Honours from the University of Notre Dame and earned the Dean's Award for outstanding student. He also holds a BS in Engineering, with High Honours, from the University of Arkansas as well as an SEP from Stanford Graduate School of Business.
Joseph Grosso - Executive Chairman
Mr. Joseph Grosso has been appointed as Executive Chairman of the Company. He will work very closely with Mr. Fernandez to ensure a fluid transition.
Mr. Grosso became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment, and was named Argentina's 'Mining Man of the Year' in 2005. His knowledge of Argentina was instrumental in attracting a premier team which led to the acquisition of key properties in Golden Arrow's portfolio. He has successfully formed strategic alliances and negotiated with mining industry majors such as Barrick, Teck, Newmont , Viceroy (now Yamana Gold) and Vale S.A., and government officials at all levels.
Michael Iannacone - Chief Financial Officer & Corporate Secretary
Mr. Michael Iannacone has been appointed Chief Financial Officer and Corporate Secretary replacing Mr. Bassam Moubarak who will remain with the Company as a consultant to assist with the transition of the Chief Financial Officer and Corporate Secretary roles.
"On behalf of the board and myself, I would like to thank Mr. Moubarak for his contributions to Golden Arrow these past three years. Mr. Moubarak played a pivotal role in negotiating the sale of the royalty to maximize value for our shareholders. We all wish him well in his future endeavours" stated Mr. Joseph Grosso.
Mr. Iannacone received his Bachelor of Commerce degree (Accounting Major) from the University of British Columbia. Upon graduation he joined Coopers and Lybrand, Chartered Accountants (since merged into PricewaterhouseCoopers) where he completed his articles and obtained his Chartered Accountant designation. Mr. Iannacone completed five years with Coopers and Lybrand, working in audit related functions, with primary focus on natural resources and precious metals sector. Since leaving public practice Mr. Iannacone has worked in various operational and finance related positions for companies (both public and private) in such industries as software development, mineral resource development, mineral resource/precious metals production, industrial valve application and marine transportation.
About Golden Arrow:
Golden Arrow is a Vancouver-based explorer and prospect generator focused on identifying, acquiring and advancing precious and base metal projects in Argentina with the goal of achieving a world class discovery. The core focus will be on advancing its flagship Chinchillas Silver Project located in Jujuy, Argentina. Golden Arrow has a strong treasury which will allow the company to drill its Chinchillas Silver Project over the coming months with the aim of publishing the first NI43-101 resource calculation on Chinchillas in the first half of 2013. Golden Arrow will continue to execute its strategy to leverage the Company's exploration exposure by attracting partners to fund work on its other high quality mineral projects. Golden Arrow is a member of Grosso Group, a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, Executive Chairman
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This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.