Gold Mines of Sardinia Limited
A.C.N. 009 234 851
February 8, 2000
Please find attached a News Release regarding
GOLD MINES OF SARDINIA LIMITED
JEANNETTE P. SMITH
The directors wish to advise that Mr. Vittorio Gori has been appointed a director to the Boards of Gold Mines of Sardinia Limited and its 90 per cent owned operating subsidiary, Sardinia Gold mining SpA.
Vittorio Gori was born in 1947 and completed a degree in Mechanical Engineering at La Sapienza University, Rome. He is the son of one of the founders of the Gori & Zucchi Group, established in 1926, and is currently Italy's largest jewelry manufacturer . Mr Gori was Managing Director until the company was sold in 1999. At present he is Chairman and a non-executive director.
Sardinia Gold Mining SpA (SGM) has recently received Decrees from the Ministry of Industry for additional Law 752 exploration funding grants totalling Lit5.5b (AUD$4.5) of which Lit.2,478,250,000 (AUD$2m) is for Furtei and Lit.2,977,785,000 (AUD$2.4m) for Osilo.
Funding relating to these Decrees will come to hand over the next 12 months or so; however, the Company will seek bridging finance against these grants, as it has done in the past, with local Italian banks.