Mangazeya Mining appoints Sergey Kashuba as new CEO

– CANADA, ON –  Mangazeya Mining Ltd. (NEX: MGZ.H) announces that it has appointed Sergey Kashuba as CEO, effective December 23, 2013, and Corporate Secretary, effective January 1, 2014. The appointment follows the resignation of Gary Quedado as Corporate Secretary and Sergey Yanchukov as CEO. Mr. Yanchukov will continue to lead the Company as Chairman of the board of directors.

The Company also announces that Mr. Sergei Tchetvertnykh has resigned from the board of directors, effective December 23, 2013.

About Sergey Kashuba

Mr. Kashuba has served as a director of Mangazeya and its Chief Operating Officer since July 31, 2013.

Over the past ten years, Mr. Kashuba held executive positions in several gold mining companies, including Zapadnaya Artel in the Yakutia Republic, GeoProMining, and Zolotaya Zvezda in the Krasnoyarsk region. He has extensive experience in economic assessment, financing, and trading in gold deposits in Russia and CIS countries. From 1999 to 2002 Mr. Kashuba was the Chairman of the Committee on precious metals of the Russian Banking Association where he led the development of legislative initiatives aimed at liberalization of the Russian precious metals market. From 1996 to 2002 he was the head of Precious metals Department of Incombank and Investment Banking Corporation (Moscow). Mr. Kashuba is a graduate of the Institute of Foreign Languages, and in his early career worked in various state enterprises including the Ministry of Foreign Affairs of the USSR. Mr. Kashuba is currently the Chairman of the Union of Gold Producers of Russia.

About Mangazeya

Mangazeya Mining Ltd. is a NEX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.

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