COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Aug. 10, 2005--Fischer-Watt Gold Company, Inc. (OTCBB:FWGO) announces that Mr. George Beattie has retired as the Company's President and Chief Executive Officer. His resignation was accepted at a Board meeting on August 4, 2005 where he was warmly thanked for his years of service to the company. George will continue as a Director of Fischer-Watt Gold. The Board subsequently appointed Mr. Peter Bojtos, P. Eng. as President, and Chief Executive Officer. Peter, age 56 who is a geologist and Professional Engineer, has been a director, Vice-Chairman and a Vice-President of the Company since 1996 and he will continue at his salary of $50,000 per annum. The Company owes him $302,795 in accrued salary and expenses and $20,000 in a demand note at 5% interest rate. In addition, Mr. James Seed relinquished his position as Chairman of Fischer-Watt and the Board elected to have the new President take on this additional role. The Board thanked Jim for his contribution as Chairman over many years. In taking on these appointments Peter Bojtos summarized the immediate main tasks facing the Company. "We are in the process of finalizing our previously announced agreement regarding the development of our La Balsa copper deposit with NeXvu Capital. Additionally we will look to strengthening the Company financially and seek new resource properties and opportunities." The address of the Company's operations office, previously in Coeur d' Alene, Idaho has been changed to 2582 Taft Ct. Lakewood CO. 80215. The Company's telephone number, 208-664-6757, remains the same.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those projected in the forward-looking statements.
