TORONTO, Ontario, February 11, 2013. Lydian International Ltd. (TSX: LYD) (“Lydian” or “the Company”), a gold-focused mineral exploration and development company, is pleased to announce that Dr. Geoffrey Cowley has been appointed as a director of the Company. Dr. Cowley will replace Peter Mullens who has resigned from the Company’s board of directors.
Dr. Cowley has 35 years of professional experience, including significant experience in a range of world class metal mining operations in Africa, Asia, the Middle East, the former Soviet Union and Russia. Dr. Cowley was Chief Operating Officer of White Tiger Gold Ltd. from November 2009 until January 2013. He was Chief Executive Officer of Maple Minerals Corporation from November, 2009 until November 2010, Interim Chief Executive Officer for Kinross Far East (Russia) from January, 2009 to June, 2009 and Chief Executive Officer of Strikeforce Mining and Resources plc from June, 2006 to December, 2008. He has also held senior positions with a number of major corporations such as Anglo American, De Beers, British Steel Corporation and others. Dr. Cowley has a Master’s Degree and Doctorate in Engineering, is a Chartered Engineer and holds fellowships in several professional institutions. He has also advised governments on economic growth and expansion, served as one of two representatives of the United Kingdom on the Business Council for Europe, Africa and the Mediterranean and worked as Senior Advisor to the World Economic Forum on African Industrial Development.
"I would like to thank Lydian’s management and directors for my time with the Company, and I am pleased by the addition of Dr. Cowley to the board during a very exciting time of growth for Lydian" said Mr. Mullens. He also stated, "I feel privileged to have been with the Company from its inception and through its initial listing and the substantial development of the Amulsar ore deposit to date."
Gordon Wylie, Chairman, stated "On behalf of the Company’s board of directors, we welcome Dr. Cowley, a capable, experienced mine builder, as a director and we thank Peter Mullens for his valuable contribution and service to the Company."
About Lydian International
Lydian is a gold-focused mineral exploration and development company with expertise employing “first mover” strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe and, in particular, developing its flagship Amulsar gold project in Armenia. Lydian also has a pipeline of promising early-stage gold and base metal exploration projects in the Caucasus regions.
Lydian’s management team has a track record of success in grassroots discovery, in acquiring and developing undervalued assets, and in building companies. Lydian has a strong social agenda and a unique understanding of the complex social and political issues that characterise emerging environments. The Company’s significant shareholders include the International Finance Corporation which is a member of the World Bank Group and the European Bank for Reconstruction and Development. More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
For further information please contact:
+44 (0)1534 715473
+44 (0)7797 742800