TORONTO, Ontario, November 12, 2014 – Lydian International Limited (TSX:LYD) (“Lydian” or “the Company”) announced today that John Naisbitt has assumed the role of Project Execution Lead for the Amulsar Gold Project. Marc Leduc, Chief Operating Officer, will be providing transition support services until the end of 2014, at which time he will leave Lydian.
Mr. John A. Naisbitt has more than 35 years of increasingly responsible experience in project development, project capital management, engineering, construction, procurement and project management for various organizations and EPCM (Engineering, Procurement, and Construction Management) in the US, South America, Africa, Russia, Asia and Europe. Mr. Naisbitt has held various positions or worked as a consultant for such companies as AngloGold Ashanti, Lumina Copper, Gold Fields and other notable names in the mining industry.
Howard Stevenson, Lydian’s President and CEO commented, “Marc’s contributions during the past year were instrumental to Lydian’s advances with Amulsar. His resignation comes following the culmination of successful efforts to relocate the heap leach facility, update the feasibility study, and support our permitting process. As we welcome John, I’d like to thank Marc for his dedication to Lydian’s success and his willingness to ensure a smooth transition. We all wish Marc the very best in his next endeavor.”
About Lydian International
Lydian is an emerging gold developer, focused on its 100% owned Amulsar Gold Project, located in Southern Armenia. The Company’s current mine development and construction plan for Amulsar is aimed at achieving average production of 200,000 ounces of gold per year and establishing the Company as a high cash-flow, mid-tier producer. The Company is committed to best practices in all aspects of its operations including production, sustainability, and good corporate citizenry. For more information on Lydian please visit www.lydianinternational.co.uk.
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Caution regarding forward-looking information:
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements regarding the Company’s intended planned CEO succession. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, mine site planning and development, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company’s most recent annual information form under the heading “Risk Factors”, which has been filed electronically by means of the Canadian Securities Administrators’ website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.