Caldera CEO issues statement on GBGD efforts to avoid obligations

PanARMENIAN.Net - Bill Mavridis, President and CEO of Caldera Resources Inc. (“Caldera”) issued the following statement regarding Global Gold Corporation’s (“GBGD”) efforts to evade its obligations to Caldera:

“I am in receipt of a letter issued by the U.S. Embassy to a Senior Official of the Republic of Armenia that contains misleading and false statements against Caldera and its officers. It appears that Mr. Van Krikorian, Legal Counsel, CEO and Chairman of GBGD, has deliberately misled the U.S. Embassy in Armenia in order to compel the U.S. Government to intervene on GBGD’s behalf.”

“The U.S. Embassy’s correspondence includes an attachment of a “non-paper” restating Mr. Krikorian’s misleading and false allegations against Caldera and its officers.”

“These misleading and false allegations go beyond the allegations made in GBGD’s press release of August 2, 2011, which have been addressed in our press release of August 5, 2011.”

“I am not surprised by the allegations made by Mr. Van Krikorian because he has a track record of making misleading and false claims in GBGD’s Arbitration filings. However, I am shocked and dismayed that the U.S. Embassy failed to verify the truthfulness of a single claim made by Mr. Van Krikorian and his Country Manager Mr. Ashot Boghossian.”

“GBGD’s lobbying of the U.S. Government to make false and misleading statements, raises serious legal and ethical issues and violates the confidentiality of the arbitration process, that must be addressed forthwith.”

“A copy of the US Embassy letter and “non-paper” summary has been submitted to our legal counsel at the New York Law Firm of Harris Beach with instructions to file a copy of the letter with the Arbitrator and deposit a formal complaint with the U.S. State Department regarding the dangerous attempt by GBGD to deliberately mislead the U.S. Government.”

“I have also filed a complaint with the Canadian Embassy in the Russian Federation to assist us in these matters in Armenia.”

Caldera has filed a complaint with the American Arbitration Association against Global Gold Corporation who unilaterally and illegally terminated the JVA between the parties. The binding arbitration hearing is scheduled to start on August 23, 2011.