Roscan Gold Corp V.ROS

Roscan Appoints Officers And Grants Options

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Roscan Appoints Officers And Grants Options Wednesday February 2, 11:08 am ET TORONTO, ONTARIO--(CCNMatthews - Feb. 2, 2005) - ROSCAN MINERALS CORPORATION (TSX VENTURE:ROS - News) is pleased to announce that Alexander Balabanov was appointed President and Chief Executive Officer at the Company's Board of Directors meeting held on January 26, 2005. William Chymyck, the Company's former President, was appointed Non-Executive Chairman and Mark McMurdie became the Company's Chief Financial Officer. Mr. Balabanov, based in Moscow, Russia, is a founding member and Executive Director of RPFB Project Finance Limited, a company providing financial consulting services to major companies in Russia's natural resource sector. He is also Chairman of OJSC Buryatzoloto, a Russian mining company with two producing gold mines in the Republic of Buryatia, Southern Siberia. Since 2000, he has been a Director of High River Gold Mines Ltd., a TSX-listed company. A graduate of the Moscow Finance Institute (1988), Mr. Balabanov specialized in International Economic Relations. Prior to 1998, he was a Director of the Russian Project Finance Bank, a subsidiary of the European Bank for Reconstruction & Development (EBRD), where he supervised the Bank's financing activities in multi-million dollar projects related to mining, metals, forestry and oil. The Board also granted one million stock options to its Directors, Officers and Consultants under terms of an Incentive Stock Option Plan approved by shareholders at the Company's Annual and Special Meeting of Shareholders on May 28, 2004. The stock options have a term of 5 years and are exercisable at a price of $0.85. The Company is currently planning the next phase of its exploration program on the Company's wholly owned 6,800 acre property located in the Confederation Lake greenstone belt, Red Lake Mining Division, Northwestern Ontario, approximately 38 kilometres southeast of the town of Red Lake. In 2004, McPhar Geosurveys completed a Phase 1 high-resolution EM/aeromagnetic survey over the entire area. The survey identified 6 distinct magnetic areas for follow-up ground surveying and drilling. In addition to its Red Lake property, the Company continues to evaluate opportunities to acquire advanced mineral properties and projects in Russia and Mongolia. Shares Outstanding: 16,799,573 Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. --------------------------------------------------------------------- Contact: Roscan Minerals Corporation William Chymyck Phone: [phone] The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. ---------------------------------------------------------------------Source: ROSCAN MINERALS CORPORATION