Spokane, WA - April 16, 2013 - Goldrich Mining Company (OTCBB: GRMC) (“Goldrich”) is pleased to announce the Board of Directors has elected Michael G. Rasmussen as Director. Dr. Rasmussen will replace Richard Walters, who retired from the Board.
Dr. Rasmussen has more than 25 years of experience in mining and exploration in the United States, Canada, Mexico and Peru. Dr. Rasmussen is the Vice President, Exploration for Mines Management, Inc. (NYSE-Market: MGN, TSX: MGT) and held senior roles at Echo Bay Mines and Kinross Gold Corporation (NYSE: KGC, TSX: K) and Endeavour Silver Corp. (NYSE: EXK, TSX: EDR). He earned a PhD in Economic Geology from the University of Washington and a masters degree in geological sciences from Loma Linda University. He is a member of the Society of Economic Geologists, Geological Society of America, Northwest Mining Association, and the American Institute of Professional Geologists. He has conducted exploration extensively throughout Mexico, having overseen programs in the states of Chihuahua, Durango, Zacatecas, Guanajuato, San Luis Potosi, and elsewhere throughout the Sierra Madre, as well as having been responsible for exploration in New Mexico, British Columbia and Washington State, where he has been credited with the discovery of the Emanuel Creek epithermal gold deposit for Echo Bay Mines.
Goldrich wishes to thank Mr. Walters for the foresight, creativity, and leadership he provided to the Company. Mr. Walters was a director of Goldrich for 10 years, of which 6 years was as CEO and President. During his term as director, Goldrich expanded its land position at Chandalar from 1,500 to 22,858 acres, identified a world-class stratabound orogenic gold target, completed drilling to confirm one of the largest placer gold deposits found in Alaska in recent times and which is still open for expansion in three directions, and formed a joint-venture that completed construction of a large placer mine, 8,500 to 10,000 ounces of gold per year with a 13 year mine life, which will begin production in mid-June 2013. Mr. Walters will be missed on the Board but will continue as a consultant to Goldrich.