CGH.L Regulatory News (CGH)

21 Dec 2007 07:00

Chaarat Gold Holdings Ltd21 December 2007 For immediate release 21 December 2007 Chaarat Gold Holdings Ltd Chaarat Gold Holdings Ltd (AIM:CGH) Announces New Senior Staff Appointments and the adoption of a Staff Share Option Scheme Road Town, Tortola, British Virgin Islands (21 December 2007). Staff Appointments Chaarat Gold Holdings Ltd ("Chaarat" or "the Company") is pleased to announcethe strengthening of its geological team with the appointment of two seniorgeologists, Mr. Sunit Patel and Mr. Rudy Rodriguez. Mr. Sunit Patel is joining Chaarat as Chief Geologist. Mr. Patel holds a M.Sc.in Geology from Sambalpur University, India and is a member of the GeologicalSociety of India. He brings to the Company significant relevant experience inmineral exploration, modelling, planning and management. Mr. Patel waspreviously a senior geologist for the Geological Survey of India, having had an18 year career with that organisation, preceded by lecturing in Geology at theSambalpur University, India. Mr. Patel most recently established and managed anew geology and exploration department for Chemaf S.P.R.L., a mining andexploration company operating in the Democratic Republic of Congo. Mr. Rudy Rodriguez joins the Company as Exploration Manager. Mr. Rodriguezholds a M.Sc. degree in Geology from the People's Friendship University, Moscow,specialising in prospecting and exploration for mineral deposits. During his 23year professional career he has been involved in, and managed explorationactivities for a number of mining companies in the USSR, Venezuela and SouthAfrica, exploring for gold, platinum group metals, copper and diamonds. Mr.Rodriguez latest position was as Senior Geologist and Project Leader for aVenezuelan subsidiary of Valgold Resources Ltd. Messrs Rodriguez and Patel will initially report to Mr. Jed Diner, VP Geology,who will gradually hand over day to day activities to them. The Company records the resignation of Mr. Matthew Dorman as Project Manager. Mr. Dorman will leave after completing his supervision of the Company's scopingstudy on the Chaarat gold project that is currently in progress. Share Option Scheme The Company is pleased to announce completion of the structuring and adoption ofits new Share Option Plan to govern the award of future share options to staffand employees. The Company regards the award of such options to its staff as animportant component of its remuneration and incentive structure and intends toinclude its talented local Kyrgyz employees within the scope of option awards.The Company's remuneration committee will administer the share optionarrangements. An award of options under the new plan is expected to take place early in 2008. About Chaarat Gold Holdings or the Company Chaarat Gold Holdings is a gold exploration company founded for the purpose ofdeveloping its sole asset, being the Chaarat License Area. Chaarat was admittedto AIM on 8 November 2007. Disclaimer This press release includes forward-looking statements. Such forward-lookingstatements involve known and unknown risks, uncertainties and other importantfactors beyond Chaarat's control that would cause the actual results,performance or achievements of Chaarat to be materially different from futureresults, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerousassumptions regarding Chaarat's present and future business strategies and theenvironment in which Chaarat will operate in the future. Any forward-lookingstatements speak only as at the date of this document. Chaarat expresslydisclaims any obligation or undertaking to disseminate any updates or revisionsto any forward-looking statements contained herein to reflect any change inChaarat's expectations with regard thereto or any change in events, conditionsor circumstances on which any such statements are based. As a result of thesefactors, the events described in the forward-looking statements in this pressrelease may not occur either partially or at all. Enquiries: Chaarat Gold Holdings Ltd Tel: +44 (0) 20 7499 2612Dekel Golan - Dekel@chaarat.comTerry Cross - terry@caserve.co.uk Canaccord Adams Limited Tel: +44 (0) 20 7050 6500Mike JonesRobin Birchall This information is provided by RNS The company news service from the London Stock Exchange