TORONTO, June 12, 2012 /CNW/ - Temex Resources Corp. (TSX-V: TME) (FWB:
TQ1) ("Temex" or "the Company" or "the Corporation") is pleased to
announce the appointments of Mr. Greg Gibson and Mr. Ron Goldsack to
the Board of Directors of the Corporation effective immediately.
"I am delighted to welcome both Greg and Ron to the Board of Directors
of Temex," said Ian Campbell, President and CEO. "Greg brings to Temex
a wealth of experience in all aspects of junior mining company
operations and his contributions will be invaluable as we take our
Company to the next level. Ron's vast experience in corporate finance
greatly strengthens our team and he will play an important role in
accelerating our growth."
Mr. Gibson is a 30 year veteran of the mining industry having worked as
a mine manager in gold and copper mines in Australia, a nickel mine in
Timmins, Ontario and a gold mine in British Columbia. Mr. Gibson has
worked for JS Redpath in Canada and the USA, Dynatec Mining Ltd. in
Canada and the USA, Yilgarn Star Gold Mine in Australia and Copper
Mines of Tasmania in Australia. Mr. Gibson is currently the President,
CEO and a director of Trelawney Mining and Exploration Inc.
Mr. Goldsack has been active in the investment business for decades and
he has a long successful history in corporate finance. He was a Vice
President of Wood Gundy and Co. Inc. in Toronto and New York where he
helped build their research department and was also active in
institutional sales, trading and corporate finance. He then became a
co-founder, Vice Chairman and Director of Gordon Capital for
approximately 28 years after which he was a partner at Griffiths
McBurney and Partners ("GMP") for 3 years. Mr. Goldsack also served as
a director of Goldcorp Inc. He currently acts as a consultant to
companies regarding corporate finance and M&A advice to public and
Concurrent with the new appointments, Mr. Nelson Baker and Mr. Angus
Footman have retired from the Board of Directors of the Corporation.
Mr. Footman has served as a Director since 2003 and has contributed in
many ways including acting on all committees and as Chairman of the
Board for lengthy periods of time. Mr. Baker joined Temex in 2005 as a
Director and has been instrumental in the development of Temex's gold
asset portfolio and will now be focusing on other professional
"On behalf of all of us at Temex, I want to recognize the efforts of
both Angus and Nelson and thank them for their tremendous and
consistent contributions to the success of our company. I am pleased
they will continue to assist the company and we also wish them all the
best in their future endeavors," expressed Ian Campbell, President and
Effective with the appointments, Mr Gibson and Mr. Goldsack have each
been granted options to purchase 500,000 common shares of Temex
Resources Corp. Each such option may be exercised at a price of $0.20
per share for a period of 5 years.
On behalf of the Board of Directors,
President and CEO
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio
of precious metals properties in northeastern Ontario, a world class
mining district. Temex is exploring its Timmins Whitney Property, in
partnership with Goldcorp, and its Juby Gold Project. The Juby Main Zone has NI 43-101 compliant resources of 22.3 million
tonnes at a grade of 1.30 g/t gold for 934,645 ounces of gold in the
Indicated category and 28.2 million tonnes at a grade of 1.00 g/t gold
for 905,621 ounces of gold in the Inferred category, both at a cut-off
grade of 0.40 g/t gold (Note 1). Temex also has a NI 43-101 compliant resource for tailings
material on its Gowganda Silver Project (Note 2). The tailings piles contain a NI 43-101 compliant resource of 1.94
million tonnes grading 47.5 g/t silver for a contained resource of 2.96
million ounces of silver in the Indicated category.
Information regarding the mineral resource estimate on the Juby Main
Zone is in the Company's news release dated January 16, 2012 and the
technical report filed on SEDAR February 28, 2012. The Mineral
Resource Statement was prepared for Temex by GeoVector Management Inc.,
Ottawa, Ontario according to the "CIM Standards on Mineral Resources
and Reserves: Definition and Guidelines" (December, 2005), by Joe
Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and Allan Armitage,
PhD, P.Geol., "independent qualified persons" as defined by NI 43-101.
Information regarding the mineral resource estimate in the tailings
piles located on the Gowganda Silver Project is in the Company's news
release dated June 8, 2011 and the technical report filed on SEDAR July
21, 2011. The Mineral Resource Statement was prepared for Temex by
GeoVector Management Inc., Ottawa, Ontario according to the "CIM
Standards on Mineral Resources and Reserves: Definition and Guidelines"
(December, 2005), by Allan Armitage, PhD, P.Geol., Alan Sexton, MSc,
P.Geo. and Joe Campbell, BSc, P.Geo., "independent qualified persons"
as defined by NI 43-101.
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such
forward-looking statements involve risks and uncertainties. The
results or events predicted in these forward-looking statements may
differ materially from actual results or events. The Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Temex Resources Corp.
For further information:
please visit www.temexcorp.com or email: firstname.lastname@example.org or phone: 416-862-2246 toll free: 866-373-6287