| ||Tue Feb 9, 2016|
Cassidy Gold Corp. Announces Corporate Update
| ||Cassidy Gold Corp. ("Cassidy" or the "Company") announces it is placing the Kouroussa Gold Project in Guinea on care and maintenance, due to technical issues that have arisen over the past several months. The project will remain non-operational while a series of test-work and studies are completed. Cassidy is implementing significant cost saving measures during this time.|
Effective March 1, 2016, Marion Bush will resign as director and as Chief Executive Officer of Cassidy. Ms. Bush served as Cassidy's Chief Operating Officer from October, 2011 to July, 2012 and as Chief Executive Officer since July, 2012. The Company is removing Bruce McDonald from the office of COO at this present time. Upon the resignation of Ms. Bush, it is the intention of Cassidy's Board to appoint Jim Gillis as Chief Executive Officer. Mr. Gillis has been a director of Cassidy since February, 1996 and has been serving as Cassidy's President since July, 2012 and previously as Cassidy's Chief Executive Officer from April 2003 to October 2011.
The Board of Directors thanks Ms. Bush for her significant contributions to Cassidy.
About Cassidy Gold Corp.
Cassidy is a Canadian mineral development company focused on gold discovery & development in the Republic of Guinea, West Africa. Cassidy is listed on the TSX Venture Exchange under the symbol "CDX". Cassidy owns a 100% interest, subject to a 15% state participation, in the Kouroussa Gold Project in the Republic of Guinea.
For additional information, please contact:
James T. Gillis, President
Telephone: (250) 372-8222
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Cassidy Gold Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Cassidy Gold Corp.'s management on the date the statements are made. Except as required by law, Cassidy Gold Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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 news release.
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