HGM.L Regulatory News (HGM)

22 Dec 2006 07:01

Highland Gold Mining Limited22 December 2006 Highland Gold Mining Limited Appointment of Directors 22 December 2006 Highland Gold Mining Limited ("Highland"), the AIM quoted Russian gold producer,announces, from 21 December 2006, the appointment of Mr Nicholas Nikolakakis andMr Rene Marion to the Board of Directors. Mr Nikolakakis, Vice President Corporate Finance at Barrick Gold Corporation of Canada ("Barrick"), willserve as a non-executive director, while Mr Marion, Vice President Russia and Central Asia at Barrick, joins Highland as an executive directorand Chief Operating Officer. This follows the completion on Friday 15 December, 2006 of the share exchangeagreement through which Barrick increased its participation in Highland to 34%.As part of this agreement, Barrick had the right to appoint two additionaldirectors to the Board of Highland. The nominations of Mr Nikolakakis and MrMarion were announced on Wednesday 13 December 2006. Enquiries: Duncan Baxter, Corporate Affairs Director +44 (0)1534 814 202Dominic Palmer-Tomkinson, Investor Relations +44 (0)207 851 6406 www.highlandgold.com Note: Nicholas Nikolakakis. Nicholas Nikolakakis, 39, has been with Barrick since April 2006 where he holdsthe position of Vice President, Corporate Finance. He was previously VicePresident and Chief Financial Officer at Placer Dome, Canada. His knowledge isdrawn from senior financial roles within some of Canada's leading energy andmining corporations, combining 12 years of experience in mining and energyacquisitions analysis, operations implementation and development, strategy andchange, and all areas of corporate finance. His current responsibilities withBarrick include, capital raising in the public and private markets, managementof the balance sheet and long term planning objectives. The following information is provided in accordance with Rule 17 of the AIMRules: (a) holds and has held the following directorships or been a partner inthe following partnerships within the past 5 years:Current directorships and fiduciary responsibilities: None;Previous directorships in past five years: PlacerDome (KS) Limited, AurionGold (Canada) Limited and Pan Continental Mining (Canada) Ltd;(b) has no unspent convictions in relation to indictable offences;(c) has not had any bankruptcy order made against him or entered intoany individual voluntary arrangement;(d) has not been a director of a company which has been placed intoreceivership, compulsory liquidation, creditors' voluntary liquidation,administration or which has entered into any company voluntary arrangement orany composition or arrangement with its creditors generally or any class of itscreditors, at the time of or within twelve months preceding such events;(e) has not been a partner of any partnership which has been put intocompulsory liquidation, administration or entered into partnershipvoluntary arrangements, at the time of or within twelve months preceding suchevent;(f) has not had a receivership of any asset or of a partnership wherehe was a partner at the time of or within twelve months preceding suchevent; or(g) has not been publicly criticised by statutory or regulatory authorities(including recognised professional bodies) or ever been disqualified by a courtfrom acting as a director of a company or from acting in themanagement or conduct of the affairs of any company. Rene Marion Rene Marion, 44, has been associated with Barrick for more than 14 years and iscurrently Barrick's Regional Vice President, Russia and Central Asia. Hisbackground combines 21 years of mining experience in operations, operationmanagement and mine engineering in North America with acquisition evaluations,feasibility studies, development and mergers all over the world. Prior toappointment to his current position in 2005 he held various senior posts inBarrick's corporate headquarters in Toronto, Canada including Vice President,Technical Services. The following information is provided in accordance with Rule 17 of the AIMRules: (a) holds and has held the following directorships or been a partner inthe following partnerships within the past 5 years:Current directorships and fiduciary responsibilities: CJSC Federovo Resources,CJSC Barrick Gold Services.Previous directorships in past five years: Kahama Mining Corporation Limited,Tethyan Copper Company Limited, HB Ventures Netherlands B.V.,Taseevskoye Netherlands B.V..(b) has no unspent convictions in relation to indictable offences;(c) has not had any bankruptcy order made against him or entered intoany individual voluntary arrangement;(d) has not been a director of a company which has been placed intoreceivership, compulsory liquidation, creditors' voluntary liquidation,administration or which has entered into any company voluntary arrangement orany composition or arrangement with its creditors generally or any class of itscreditors, at the time of or within twelve months preceding such events;(e) has not been a partner of any partnership which has been put intocompulsory liquidation, administration or entered into partnershipvoluntary arrangements, at the time of or within twelve months preceding suchevent;(f) has not had a receivership of any asset or of a partnership wherehe was a partner at the time of or within twelve months preceding suchevent; or(g) has not been publicly criticised by statutory or regulatory authorities(including recognised professional bodies) or ever been disqualified by a courtfrom acting as a director of a company or from acting in themanagement or conduct of the affairs of any company. End This information is provided by RNS The company news service from the London Stock Exchange