Goldfield Announces Executive Promotions

6/20/17

MELBOURNE, Fla., June 19, 2017 (GLOBE NEWSWIRE) -- The Goldfield Corporation (NYSE MKT:GV)  announced today the appointment of Jason M. Spivey as President of Power Corporation of America and Southeast Power Corporation, electrical construction subsidiaries of Goldfield, effective June 19, 2017.

Mr. Spivey joined SEP as a Project Manager in January 2015 and was promoted to Assistant Vice President in May 2016. Previously, Mr. Spivey worked for the Orlando Utilities Commission ("OUC") for 25 years. During his tenure at OUC, Mr. Spivey held various leadership roles related to transmission and distribution line construction.

Goldfield also announced the promotion of Zane E. Taylor to Executive Vice President of SEP. Mr. Taylor, who joined SEP in 1983, has over 30 years' experience in the electrical construction industry and has been responsible for SEP's southern regional electrical construction operations. Mr. Taylor will continue to be responsible for SEP's southern regional electrical construction operations in addition to providing guidance for future growth.

Goldfield also announced the promotion of Jason Coffey to PCA Vice President of Business Development and Corporate Communications. Mr. Coffey joined SEP in 2014 and has been involved in electrical construction operations and foundation construction at several regional offices in addition to assisting with corporate communications and business development. Prior to joining SEP, Mr. Coffey spent 9 years at an instrumentation and controls government contractor serving roles within sales, marketing and business development.

Goldfield also announced the promotion of Denise L. Diaz to Corporate Secretary. Ms. Diaz joined Goldfield in 2005 as a Financial Analyst and has held various positions within the accounting and finance department of the Company, including her current role as Director of Financial Reporting. Ms. Diaz will continue her role as Director of Financial Reporting while also serving as the Company's Corporate Secretary. Prior to joining the Company, Ms. Diaz held various finance and accounting positions at Clorox Latin America and AstraZeneca.

Mr. John H. Sottile, President and Chief Executive Officer of Goldfield, said, “These promotions are integral to the Company achieving planned future growth in our electrical construction operations. They represent a key step for the future development of our Company.”

About Goldfield

Goldfield is a leading provider of electrical construction services engaged in the construction of electrical infrastructure for the utility industry and industrial customers, primarily in the Southeast and mid-Atlantic regions of the United States and in Texas.

For additional information, please refer to our filings with the Securities and Exchange Commission and visit the Company’s website at http://www.goldfieldcorp.com.

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