Dear Executive Board Members, Employees, Committee Members, Shareholders and Partners of Virgin Gold Mining Corporation:
The Board of Directors of Virgin Gold Mining Corporation (VGMC) hereby announces that Mr. Johann Hansen will step down as the Chief Executive Officer effective 7th of August 2011 after serving the company for the past 12 years.
The Board, upon recommendation from Mr. Hansen, unanimously approved the official appointment of Mr. Kenneth Elinger as Virgin Gold Mining Corporation's new President and Chief Executive Officer effective Monday, 8th of August 2011. In fact, Mr. Elinger had been acting in the capacity of CEO of VGMC since Mr. Hansen left for vacation on the 1st of July this year.
Mr. Elinger has been appointed Vice President of Finance of VGMC since 2006 and will continue to do so for the time being. He has also been instrumental in engineering the offering of Virgin Gold Convertible Preferred Shares (VGCPS) to the global shareholders since January 2010. The board expects a very smooth transition of executive power from Mr. Hansen to Mr. Elinger. Every employee of VGMC is very familiar with Mr. Elinger, speaks highly of him all the time and he will inherit a very competitive and capable work force.
We are confident that Mr. Elinger will lead VGMC to the next financial level. We would also like to take this opportunity to thank Mr. Hansen for his service and we welcome him on-board as one of the directors. Mr. Hansen will take the place of Mr. Pavel Nunek Valenski effective 1st of September 2011. The board and the company would also like to thank Mr. Valenski for his service for the past five years.
Ricardo Luigi Oliveira
Virgin Gold Mining Corporation