GT Gold Announces Changes to its Management Team

VANCOUVER, British Columbia, Aug. 12, 2019 (GLOBE NEWSWIRE) -- GT Gold Corp. (“GT Gold” or the “Company”) (TSXV: GTT) is very pleased to announce the appointment of Mr. Paul Harbidge, as President, CEO and Director, effective September 3, 2019. Mr. Steve Burleton has decided to step down from his role as President, CEO and Director of GT Gold Corp and will continue to serve as a consultant to the Company and support GT Gold as it advances its Tatogga projects.

“I am pleased that we have accomplished a great deal over the last year,” reflected Steve Burleton, President and CEO. “The discovery of Saddle North, with the recent investment by Newmont Goldcorp, means we are well funded to further advance our exciting exploration programs. The next steps for GT Gold will be to continue delivering strong exploration results under the technical guidance of Paul Harbidge to further define and maximize the value of the Tatogga project, for all stakeholders. I firmly believe that Paul’s experience will allow GT Gold to achieve our next milestones at this pivotal time in our history.”

Paul Harbidge is a geologist with over 20 years of experience in mining exploration and development, he has a First-Class Honours Degree in Geology from Kingston University, London UK and an MSc in Mineral Exploration and Mining Geology from Leicester University (UK). Paul has also been involved with research in collaboration with Kingston University and has completed two PhD theses as a supervisor, supporting two further PhD theses and two MSc projects. 

Paul most recently served as Senior Vice President of Exploration at Goldcorp Inc. from 2016 until its acquisition by Newmont Mining Corp. in April 2019. Before that he successfully led the Exploration Team at Randgold resulting in the discoveries of the Yalea Deeps project, the Gara deeps project, Loulo 3 and more recently the +5Moz Gounkoto deposit in the Loulo area of Mali and the +4Moz Massawa deposit in Senegal.

Ashwath Mehra, Executive Chairman of GT Gold commented, “On behalf of GT Gold’s Board of Directors, I would like to welcome Paul to the team. We are honoured to have attracted a candidate with such impressive experience and credentials, and we look forward to leveraging his technical expertise and project leadership experience as we continue to advance our discoveries and exploration at Tatogga. The Board would also like to extend many sincere thanks to Steve for his steadfast efforts throughout his tenure as CEO. Under Steve’s leadership, the Company has grown quickly and beyond expectation and his hard work has ensured GT Gold is well capitalized and positioned for continued growth.”

Mr. Harbidge will be issued 1,200,000 stock options at the commencement of his employment, which shall vest in three equal tranches of 400,000 shares three months (3), fifteen months (15) and twenty-seven months (27) after their date of grant. The options shall be priced in three equal tranches: 1/3 at the market price on August 30, 2019, 1/3 at market plus $0.10 and 1/3 at market plus $0.20.

About GT Gold

GT Gold Corp. is focused on exploring for base and precious metals in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 46,827 hectare Tatogga property, located near Iskut, BC, upon which it achieved two significant discoveries in 2017 and 2018 at its Saddle prospect: a near surface bulk-tonnage and potential deep high-grade underground-style epithermal gold-silver vein system at Saddle South and, close by at Saddle North, a large-scale, richly mineralized porphyry gold-copper-silver mineralized intrusion.

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This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.