TORONTO, Ontario, September 4, 2013. Lydian International Limited. (TSX: LYD) (“Lydian” or the “Company”), a gold-focused mineral exploration and development company, is pleased to announce that Mr. Bill Abel has been appointed as a director of the Company as a nominee of the European Bank for Reconstruction and Development (“EBRD”), a significant shareholder of the Company. Mr. Abel will replace David Woodall who has resigned to serve his current full time career commitments in Australia.
Mr. Abel is a mining engineer with more than 40 years of professional experience, specialising in project development, management and implementation. Mr. Abel is currently the owner and operator of Abel Mining Consultants Ltd., an independent mining and metals professional consulting business. Previously, he has held a number of senior technical and management positions at several major international mining companies, including most recently, Head of Resource Planning at BHP Billiton Iron Ore, Technical Executive - Special Projects and Group Head of Mining at Anglo American, and General Manager - Mining Projects at ArcelorMittal. Mr. Abel has a Master's Degree in business administration from the Witwatersrand University School of Business Management and a Bachelor of Science (Hons) degree in mining engineering from the Royal School of Mines, Imperial College in London England.
Mr. Eric Rasmussen, Director, Natural Resources at ERBD stated “We are delighted to see the appointment of Mr. Abel as a welcome addition to Lydian’s board of directors. Given his extensive assurance, mining and project management experience across various countries and commodities, we believe he will provide a valuable contribution to Lydian’s ongoing development and progress toward becoming a producing mine operator. EBRD continues to support and work closely with Lydian to ensure the responsible development of mining operations at Lydian’s Amulsar gold project, in line with EBRD’s standards of environmental and social performance”.
Gordon Wylie, Chairman, stated “On behalf of the Company’s board of directors, we welcome Bill Abel as a director and we thank David Woodall for his contribution and service to the Company.”
About Lydian International
Lydian is a gold-focused mineral exploration and development company with expertise employing “first mover” strategies in emerging exploration environments. Currently Lydian is focused on Eastern Europe and, in particular, developing its flagship Amulsar gold project in Armenia. Lydian also has a pipeline of promising early-stage gold and base metal exploration projects in the Caucasus regions.
Lydian’s management team has a track record of success in grassroots discovery, in acquiring and developing undervalued assets, and in building companies. Lydian has a strong social agenda and a unique understanding of the complex social and political issues that characterise emerging environments. The Company’s significant shareholders include the International Finance Corporation, which is a member of the World Bank Group and the European Bank for Reconstruction and Development. More information can be found on Lydian’s web site at www.lydianinternational.co.uk.
For further information please contact:
+44 (0)1534 715473
+44 (0)7797 742800