VANCOUVER, Sept. 27, 2011 /CNW/ - Midas Gold Corp. (MAX:TSX) is pleased to announce the addition of Bob Barnes, P.Eng. to the Midas
Gold team as Vice-President, Development.
Mr. Barnes was previously with Capstone Mining Corp. as their Vice
President, Operations and was responsible for Capstone's mines in Yukon
and Mexico (from 2008 through early 2011) and for the development and
operation of Capstone's Cozamin mine in Mexico before the Capstone -
Sherwood Copper Corp. merger.
Prior to Capstone, Mr. Barnes was involved in technical studies and
operations in various locations, including a period with Pan American
Silver. From 1985 to 1995, he worked with Wharf Resources, where he
was General Manager of the Golden Reward and Wharf gold mines in South
Dakota from 1988-1995. From 1981-88, Mr. Barnes played a leadership
role in the feasibility, permitting, construction and operation of the
original Wharf mine and, subsequently, for the permitting and
implementation of a five-fold increase in production at these mines.
Mr. Barnes is a mining engineer by training and spent his first three
years with Teck Corporation in operations, before moving on to his
"We are extremely pleased to welcome Bob to the Midas Gold team,"
commented Stephen Quin, President and CEO of Midas Gold. "His
experience in US gold production, permitting and interactions with
regulators in the United States will be particularly helpful in
advancing the Golden Meadows Project."
In connection with his appointment and in accordance with the Company's
Stock Option Plan, Mr. Barnes has been granted options to acquire a
total of 250,000 common shares of the Company at the exercise price of
$3.76 per share for a period of 5 years, subject to vesting. The
Company has also granted 200,000 additional options to new employees of
the Company with the same terms as specified above.
About Midas Gold and the Golden Meadows Project
Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc.,
and Idaho Gold Resources, LLC, is focused on the exploration and, if
warranted, development of the Golden Meadows Project in the
Stibnite‐Yellow Pine district of central Idaho. The principal gold
deposits identified to date within the Golden Meadows Project are the
Hangar Flats, West End and Yellow Pine deposits, all of which are
associated with important structural corridors. Independent mineral
resource estimates were reported for all three deposits in a news
release dated April 20, 2011 and are detailed in a consolidated
technical report entitled "NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project,
Valley County, Idaho" dated June 6, 2011 (the "Technical Report") is available on Midas Gold's website at www.midasgoldcorp.com or under Midas Gold's profile on SEDAR at www.sedar.com.
The Hangar Flats, West End and Yellow Pine deposits remain open to
expansion along strike and to depth. In addition, Midas Gold continues
to review and assess information contained within an extensive
exploration database developed by Midas Gold from almost 100 years of
exploration activity by multiple owners and operators with the
objective of identifying opportunities for the potential discovery of
additional gold mineralization.
SOURCE Midas Gold Corp.
For further information:
For further information about Midas Gold Corp., please contact:
Liz Caridi - Manager, Investor Relations