Cibolan Gold Announces an Addition to its Gold Development and Production Team
Reno, NV, November 20, 2014 Cibolan Gold Corporation (the “Company”) (OTCBB: GNMT) (FRANKFURT: GMQ), announces that effective September 22, 2014, at the recommendation of the Nominating and Corporate Governance committee, the Company elected Bryson Goodwin to fill the vacancy on the Company’s Board of Directors. The opening arose from the retirement of Rana Medhi in October 2013.
Mr. Goodwin has extensive experience as an executive officer in finance, sales, management and operations with both private and public companies. Over the years Mr. Goodwin has been engaged by a number of resource, energy, clean-tech and technology firms in the departments of; Management, Finance, Business Development, PR & IR, Marketing, and Sales. He brings his experience in the Canadian and US Stock Exchanges as well as public company management, in the resource and energy sectors to his new role at the company. Mr. Goodwin has experience on the board of a number of organizations and serves as an advisor to several private and public companies. He also consults for a number of capital companies and hedge funds as a resource and capital markets specialist.
The Board of Directors has determined that each of Larry Max Bigler, Shane K. Dyer and Walter A Marting, Jr. and Bryson Goodwin are “independent,” as the term is used in Item 407(a)(1) of Regulation S-K under the Securities Exchange Act of 1934, as amended, and as defined by NASDAQ Listing Rule 5605(a)(2). Accordingly, it is anticipated that the New Director will be asked to serve on committees of the Board as an independent director.
The Company currently has three standing committees. The Nominating and Corporate Governance Committee is chaired by Walter A. Marting, Jr with Larry Max Bigler and Shane K. Dyer as a members. The Audit Committee is chaired by Larry Max Bigler with Walter A. Marting, Jr. as a member and the Compensation Committee chaired by Shane K Dyer with Larry Max Bigler as a member.
The Company’s compensatory arrangement with the Directors consists of a Director’s Fee of $1,000 per month payable within five days after the end of each fiscal quarter in the common stock of the Company. Members of the standing committees of the Board receive an additional $1,000 per month payable within five days of the end of each quarter in the common stock of the Company. The fees are capped at $2,000 per director per month. The newly appointed director has not nor has had since the Company’s last fiscal year a relationship with the Company that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Forbush commented, “The Company thanks Rana for his dedicated service and his exciting vision for the project. We became acquainted with Mr. Goodwin during our negotiations with Open Gold. Since then Bryson led American Consolidated Minerals until it was acquired at a profit for his shareholders from the time he became President.”
Mr. Forbush continued, “I found Bryson to be a man of the highest integrity and well connected in the Investor Relation and Public Relations arenas of a publicly traded gold companies. mining.”
Further details regarding the Independence mineralization, drilling efforts, both historical and current together with current permitting activity are available on the Company’s website www.generalmetalscorporation.com.
About General Metals Corporation: General Metals is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific Battle Mountain Mining District of Nevada.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production in the near future, the Company’s belief that is has enough gold to generate considerable profits, that any estimated ounces of gold or silver are contained in the mineralized material in the Company’s projects and is proposed to be mined and loaded onto a cyanide heap leach pad, and the size and timing of any future financings that the Company may enter into.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
General Metals Corporation
615 Sierra Rose Dr. Suite 1
Reno, NV 89511