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BOCA RATON, Fla.--(BUSINESS WIRE)--
New World Gold Corporation (OTC Pink: NWGC), and its subsidiary, Andes Gold Corporation, (OTC Pink: AGCZ), (the “Companies” or individually, a “Company”), report that Robert Talbot, Chief Executive Officer and a Director of each Company is currently hospitalized, an is recovering from a cerebral stroke. The recovery is expected to take several months. At this time it is unknown whether or not at the end of this recovery he will be able to return to full active involvement with the Companies.
The Boards of Directors of the Companies wish to reassure their shareholders that each Company’s operations in Peru and Ecuador have not been effected by Mr. Talbot’s absence. Each South American business unit continues to pursue its business plan under its local management. No business interruptions have occurred.
The Board of Directors of New World Gold Corporation immediately has brought in outside senior business advisors to assist during Mr. Talbot’s absence. In addition, the Boards of Directors of both Companies are actively seeking supplemental operational management in South America and other professional advisory services in the U.S. and South American to strengthen each Company’s management and operations.
The absence of Mr. Talbot will not impact the previously reported startup of the BR Mine nor the royalty to be paid from its production to qualifying shareholders of New World Gold Corporation per its press release dated September 22, 2015.
Going forward, the Board of Directors of New World Gold Corporation will periodically issue updates to this press release on the status of the Company and Mr. Talbot’s recovery.
