Cluff Gold founder moves into non-exec role

Cluff pays tribute to staff and team with focus on African expansion.

Cluff Gold, the West African-focused gold mining company, has announced that its executive chairman John Gordon "Algy"  Cluff, is to become non-executive chairman of the Company from 1st August 2011.

Cluff has been chairman of the company since he founded Cluff Gold in 2003 and held the role of executive chairman and chief executive until 31st December 2010 when the role of chief executive was handed over to Peter

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As non-executive chairman, Cluff will oversee the strategy for the Company and provide guidance and assistance to the executive management team.

His new role is expected to incorporate a significant executive component, including helping to oversee relationships with key stakeholders and partners.

Cluff commented: "I am justly proud as to what Cluff Gold has achieved. The company has built two producing gold mines and is developing its Baomahun asset in Sierra Leone, which we believe has the potential for becoming a world class gold asset.”

Cluff pair tribute to his “first class management team” and his colleagues who have helped build the company into a successful gold mining operation over the last eight years.

"Peter Spivey first joined as chief operating officer and took up his new role as chief executive at the beginning of this year. He has the necessary skills to drive this business forward ably supported by our finance director, Pete Gardner, and the rest of our executive team based in London and at our other geographic locations in Africa,” added Cluff.

The company is said to be in a healthy cash balance, with no debt and as well as developing Baomahun, has an exploration programs in place in both Burkina Faso and the Ivory Coast.

"I am also particularly proud that Cluff Gold’s assets are situated in Africa. Africa has all the potential for becoming an economic powerhouse of the 21st century and I wish to pay tribute to all the governments we have partnered with, who have helped us build up our operations in Sierra Leone, Burkina Faso and the Ivory Coast,” said Cluff.

Spivey commented: "On behalf of all staff, I wish to pay tribute to Algy. He has been a leading light of the UK mining and resource sector for over 50 years creating jobs and wealth for both this country and in Africa. As an Entrepreneur, he has set an example that through hard work and determination, ambitions can be realised.”

Spivey and the rest of the company wished Cluff well in the new business ventures.



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