That'll freak the Fed: 7 more miners to pay for fashion ads

World Gold Council Welcomes 7 New Members

WGC Press Release
Wednesday, June 28, 2006

http://www.gold.org/pr_archive/pdf/new_members_pr_280606.pdf

The World Gold Council (WGC), the marketing
organisation funded by the world's leading gold mining
companies, is pleased to announce that Agnico-Eagle
Mines, Cambior, Coeur D'Alene Mines, Eldorado Gold
Corp., Goldcorp, IAMGold, and Kinross have joined the
WGC, which now represents 24 companies and around 38
percent of total world gold production.

The new members represent an increase of 17 percent in
production terms for the WGC and around 5 percent of
total world gold production.

Today's announcement will benefit the entire gold
industry, with increased funding available to the WGC
to develop and implement its gold marketing programmes
internationally.

Founded in 1987, the aim of the World Gold Council is
to stimulate and maximise the demand for and holding
of gold by consumers, investors, industry, and the
official sector. As well as undertaking marketing
initiatives to drive demand, the World Gold Council is
also instrumental in working to lower regulatory
barriers to the widespread ownership of gold products,
helping to develop distribution systems, and promoting
the role of gold as a reserve asset in the official
sector.

Pierre Lassonde, chairman of the World Gold Council
and president of Newmont Mining Corp., one of the
world's largest gold producers, commented:

"It's with great pleasure that we are welcoming today
the addition of seven new members to the World Gold
Council. By joining the WGC these gold producers
recognise the significant value created for the entire
industry in the last three years, through both its
marketing efforts and investment product creation. We
look forward to welcoming even more new members in the
months ahead, as we hope that all producers take the
responsibilities of our industry to heart.

"The past three years have been excellent for the gold
industry as the price of gold has more than doubled
from its secular low. The WGC has without a doubt made
a significant contribution to this success. The
creation of the first exchange-traded gold fund has
been a phenomenal success, with close to 500 tonnes of
gold taken up by investors in approximately 18 months.
This is the most significant new gold product to ever
come to the market. We plan to expand the reach of
this product by listing it on multiple stock
exchanges.

"The council has never been in a better position to
aggressively expand gold's market share of the luxury
goods business as well as its pre-eminent investment
role. Over the past three years the WGC have played a
major role in successfully reversing a period of
declining demand in key gold jewelry markets. In 2005
gold jewellery demand rose 17 percent in value terms
in markets where we've conducted promotional
campaigns, compared to only 7 percent in non-promoted
regions. With the contribution of our new members and
the addition of future members, we can solidify demand
for the benefit of all."

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