October 07, 2008
Sutter Gold Appoints New CFO and Board MemberSutter Gold Mining Inc. ("SGM" or the "Company") is pleased to announce that Mr. Robert J. Hutmacher, has been appointed as Chief Financial Officer of the Company and Mr. Clayr Alexander, President and CEO has been appointed to the Board of Directors effective October 6, 2008.
Mr. Hutmacher is a member of both the Colorado Society of Certified Public Accountants and American Institute of Certified Public Accountants with over thirty years experience in both the public and private sector encompassing all facets of accounting, finance, and mergers and acquisitions. He most recently was Corporate Controller for US Gold where he established new accounting systems and accounting controls that resulted in successful compliance with Sarbanes Oxley in the company's first year of required compliance. Mr. Hutmacher previously held Chief Financial Officer positions at Luzenac America, Inc. (a Rio Tinto Company) and Pacifica LTM. Mr. Hutmacher also spent five years at the international auditing firm of Ernst & Young.
Mr. Hutmacher will be responsible for accounting, financial, investor, and human resource reporting and compliance. Mr. Hutmacher will direct and establish the creation of an independent corporate office that will support investor relations, exploration, mine development, and production activities as well as the future growth of the Company.
Mr. Alexander, President and CEO will replace Hal Herron, former President, CEO, and Director on the Company's Board of Directors. As previously announced, Mr. Alexander has accepted the appointment of the President and CEO of the Company and will effectively assume these responsibilities and Board Director appointment immediately.
The Board of Directors has also approved a grant of 2.2 million stock options under the Stock Option Plan exercisable at $0.11 per share for a period of five years to officers, directors and employees.
About Sutter Gold Mining Inc.
Sutter Gold Mining Inc. is a junior gold exploration and development company pursuing the goal of becoming an emerging producer through the evaluation of the development of the Lincoln-Comet zone of the Sutter Gold Project on the California Mother Lode. SGM controls 3.2 miles of the Mother Lode where 90% of the property has not been explored despite the definition of nearly 700,000 ounces of indicated and inferred resource. Unexplored potential exists at depth on the known zones, on both the footwall and hanging wall of the Mother Lode and on the Melones Fault, the principal regional structure giving rise to the Mother Lode that exists on the eastern portion of SGM's property package. In Mexico, SGM holds rights to the geologically similar, high grade El Alamo district of northern Baja where historic mining to the water table produced mined grades of 30 to 60 g/t. Initial exploration in joint venture with Premier Gold has demonstrated the extension of high grade veins on strike and at depth and a second phase of drilling will soon commence.
Clayr Alexander, President, CEO and Director
For additional information, please contact:
Robert Hutmacher, CFO, 303-238-1438 x22
You can view the Next News Releases item: Wed Nov 12, 2008, Sutter Gold Releases Additional High Grade Gold Intersections from Santa Teresa including 24.40 gpt (0.71 opt) Across 2.0 Metres
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