2013-01-31 23:48:59 -
Toronto, Ontario, January 31, 2013 - Goldstream Minerals Inc. ("Goldstream", the "Company") announces changes to its Board of Directors. Effective immediately, Peter Tagliamonte has resigned from the Board of Directors in order to focus on other business interests. The Board of Directors and management of Goldstream wish to thank Mr. Tagliamonte for his valuable contributions during his time on the Board of Directors and wish him success in his future business endeavours. The Company also announced the appointment of Brian J. Maher as Chairman of the Board of Directors. Mr. Maher was most recently President and CEO of Prodigy Gold. During his tenure at Prodigy, the company acquired and expanded the Magino disseminated gold deposit, culminating in Prodigy being acquired
by Argonaut Gold for $341million, a tenfold increase in market capitalization in only 22 months. Mr. Maher commented: "I appreciate the Board's confidence in appointing me its Chairman and I look forward to working closely with management in advancing our Hardrock East gold project in northern Ontario. The project has the potential to host large scale low grade gold deposits in addition to higher grade, structurally controlled gold mineralization. I am excited as we prepare for our winter exploration program and look forward to a successful exploration campaign during 2013".
Goldstream Minerals Inc. is a gold exploration and development company with its material property being the Hardrock East Gold Project located in the Beardmore-Geraldton gold camp of northern Ontario. The Hardrock East Property consists of over 350 square kilometres in the eastern portion of the Beardmore-Geraldton gold camp and is comprised of four different properties: Milestone, Adel, Pagwachuan Lake and Klotz Lake (Solarus).
The geological information reported has been reviewed and approved by Paul Dunbar P.Geo., Goldstream's Vice President of Exploration, who is a qualified person under the definitions established by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
GOLDSTREAM MINERALS INC.
President and CEO
For further information, please contact Richard Kilpatrick, President and CEO at (416) 775-8774.
GOLDSTREAM MINERALS INC.
155 University Ave., Suite 1920
Toronto, ON M5H 3B7
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Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking information includes, but is not limited to statements with respect to the anticipated developments in operations in future periods; planned exploration and development activities; the adequacy of financial resources; the interpretation of drill results; and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled estimates", "forecasts", "intends", "anticipates", "does not anticipate", or "believes", or variations of such words and phrases or statement that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur", or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: unexpected events during exploration and operation; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parametres as plans continue to be refined; future prices of commodities; possible variations in resource, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; acts of terrorism; accidents, labour disputes and other risks of the mining industry; delays in the completion of development or construction activities, as well as those factors discussed herein. Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking statements that are incorporated herein, except in accordance with applicable securities laws.
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