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Following are the 37th Annual Meeting of Shareholders – Results for the 2011 Board of Directors Election:

June 1, 2011

 Goldbelt, Inc.—President and Chief Executive Officer, Gary Droubay Announces Retirement

 Juneau, Alaska—Goldbelt, Inc., the Alaska Native Urban Corporation for Juneau, announced today that it has initiated a search for a new chief executive officer. According to the Board of Directors, long-time President and CEO Gary Droubay recently announced his intent to step down effective June 30, 2011.

 “In the time that I have been with Goldbelt, it has been my pleasure to serve the shareholders of this corporation,” said Droubay.  “My experience here has been challenging and also rewarding and I leave with great respect for Goldbelt’s dedicated employees.”  Droubay joined Goldbelt in 1998 as its Chief Financial Officer and was promoted by the Board to the position of President and CEO in 2000.

 In the difficult years following September 11, 2001, Goldbelt incurred losses following the downturn in the independent tourism market. Droubay and the Board of Directors developed an economic turnaround plan that Droubay then implemented divesting Goldbelt of unprofitable ventures and focusing on rebuilding and returning the Company to profitability, primarily through participation in the Small Business Administration’s 8(a) program.

 The Juneau-based company has reported net earnings for seven years in a row and paid dividends to its shareholders consecutively for the last four years.

 According to the Board, Mr. Droubay leaves Goldbelt with a strong and experienced management team fully capable of guiding the corporation’s government contracting and other business operations.  “We thank Gary for his leadership these past thirteen years,” said Board Chairman Randy Wanamaker.  “We wish him the best as he retires and we are appreciative of all that he has accomplished.”

 Goldbelt employs approximately 187 people in Juneau, and has government contracting operations and employees working in most of the 50 states.

Congratulations to the winners! 

See you at the 37th Annual Meeting of Shareholders on June 4th at the Tlingit & Haida Community Center in Juneau, Alaska.  The meeting starts at 9am and will include a breakfast buffet, door prizes and  more!

The Goldbelt Heritage Foundation presents:

The Path to Excellence Academy, an 11 day summer program for high school students (entering grades 9-12) who are interested in blending academic learning with Traditional Ecological Knowledge.  The Academy will be held at the University of Alaska Southeast campus in Juneau, Alaska from July 5-15, 2011.  Interested applicants must apply by May 20, 2011 to be considered.  Space is limited so apply early.

For more information, contact the Jasmine Jackson at the Goldbelt Heritage Foundation at (907) 790-1464 or via email at Jasmine.Jackson@goldbelt.com. 

Click here to download an application.

It’s that time of year again…time to vote for the open board seats at the next Annual Meeting of Shareholders.  Three board seats are open. 

If you haven’t received your proxy ballot, they are available at the Goldbelt Corporate Headquarters, or you can receive one my email or USPS by calling 1-800-770-5866 or 907-790-1445.  Or, click here to download a blank proxy.

Click here to download a copy of the 2011 Proxy Statement.

Get those proxies in for the 2011 Board of Directors Election!  The deadline for being included in the early bird drawing is May 15th.  Prizes include:

Original Goldbelt shareholders who are now “Elders” as defined by GBI for the elder’s stock program (i.e. original shareholders who have reached age 65 or older) are eligible to receive a COMPLIMENTARY lifetime premium season pass at the Mount Roberts Tramway.

The Elder’s Pass allows for unlimited rides each day the Tram is open to the public, it permits the accompaniment of one guest per day, and also the receipt of a 10% discount on purchases in the Timberline Bar & Grill or Raven Eagle Gift Shop.

To obtain your complimentary Elder’s Premium Pass, visit the Tramway during operating hours.  You must bring your Goldbelt Shareholder ID and proof of date of birth.  Upon verification of eligibility, our friendly Guest Services staff will be glad to issue your season pass.

Please contact the Mount Roberts Tramway’s Guest Services Department with any questions or for more information.  They can be reached at 907-463-3412.

The latest issue of Goldbelt’s quarterly newsletter, the Kookenaa is now available on our website. 

Please click here to view.

The Goldbelt, Inc. Board of Directors met this past weekend and voted to approve a shareholder dividend.  The distribution, which will amount to $3.00 per share, will be mailed on or by December 15, 2010.  The record date for this distribution is December 1, 2010.