TORONTO, March 14, 2013 /CNW/ - Temex Resources Corp. (TSXV: TME), (FWB:
TQ1) ("Temex" or the "Company") is pleased to announce the appointment
of Mr. René Marion to the Board of Directors of Temex effective
immediately. Mr. Marion brings to Temex an extensive and successful
track record of corporate development, mining operations, and mine
development and he will work directly with the management team by
chairing a new Strategic/Technical Advisory Committee that will report
to the Board of Directors.
"I am excited at the opportunity to work with René as we share a similar
vision for Temex's growth and development. His appointment is a strong
catalyst as we transform Temex into a progressive junior explorer
capable of taking projects from early or advanced stage through to
production within an aggressive time frame," commented Ian Campbell,
President and CEO of Temex. "On behalf of the Board and Management, I
welcome René to our team."
Mr. Marion brings to Temex over 25 years of operations, mineral
exploration and mine development experience and a successful history of
corporate development. He was most recently President, CEO and Director
of AuRico Gold Inc. ("AuRico") where he built AuRico into one of the
"Top 40 Mining Companies" (Canadian Mining Journal, August 2012) by
executing several transformational transactions which included the
acquisition and development of AuRico's flagship Young-Davidson Mine,
located 45 kilometres northeast of the Company's Juby Gold Project.
Prior to joining AuRico, Mr. Marion held several senior positions with
Barrick Gold Inc. ("Barrick") over 14 years including Vice President of
Russia and Central Asia, Vice-President Technical Services,
Vice-President and General Manager of Kahama Mining. From 2006 to 2007,
he was seconded by Barrick to Highland Gold Mines Ltd. as Chief
Operating Officer and a Director based out of Moscow.
Mr. Marion is a senior corporate executive with extensive experience in
all aspects of the mining sector, including corporate governance,
executive leadership, strategic planning, operations, operating
management, reserves and mine engineering. Over his career he has
worked on a dozen international feasibility studies and has been on the
team for the construction of nine mines. Of further importance to
Temex, he led the team that successfully concluded impact and benefits
agreements in the Temex project areas.
A graduate of Queens University with a BScE degree in Mining Engineering
obtained in 1986, Mr. Marion is a member in good standing with the
Professional Engineers of Ontario, and the Ontario Society of
Effective with the appointment, Mr. Marion has been granted options to
purchase 750,000 common shares of the Company, with each such option
exercisable at a price of $0.20 per share for a period of 5 years.
The Company also announces that it has granted to an officer of the
Company options to purchase 200,000 common shares of the Company, with
each such option exercisable at a price of $0.20 per share for a period
of 5 years.
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio
of precious metals properties in the world class mining district of
northeastern Ontario. Temex (60% interest) is advancing the Timmins
Whitney Gold Project, in partnership with Goldcorp (40% joint venture
interest; no back-in rights), and exploring the Juby Gold Project (100%
The Whitney Property has open pit and underground NI 43-101 compliant
resources on the Upper Hallnor of 3.0 million tonnes at a grade of 2.44
g/t gold for 234,300 ounces of gold in the Measured category plus 8.8
million tonnes at a grade of 1.97 g/t gold for 555,900 ounces of gold
in the Indicated category and 4.1 million tonnes at a grade of 1.82 g/t
gold for 241,000 ounces of gold in the Inferred category at a cut-off
grade of 0.30 g/t gold for open pit and 2.0 g/t for underground (Note
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 2).
Information regarding the mineral resource estimate on the Upper Hallnor
is in the Company's news release dated September 5, 2012 and the
technical report filed on SEDAR October 19, 2012. The Mineral Resource
Statement was prepared for Temex by P&E Mining Consultants Inc. of
Brampton, Ontario in accordance with NI 43-101 by Richard Sutcliffe,
PhD, P.Geo., Eugene Puritch, P.Eng., David Burga, P.Geo., Yungang Wu,
P.Geo., Tracy Armstrong, P.Geo., and Antoine Yassa, P.Geo.,
"independent qualified persons" as defined by NI 43-101.
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 in accordance with NI 43-101 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.
This news release contains forward-looking information which is not
comprised of historical facts. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is not
limited to, mineral resource estimates, and the potential
transformation of the Company and the development of its projects as
well as the timing related thereto. Factors that could cause actual
results to differ materially from such forward-looking information
include, but are not limited to, general business and economic
uncertainties, future mineral prices, uncertainties in mineral resource
estimates and adverse market conditions, as well as those risks set out
in the Company's public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies
as of the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information,
future events or otherwise, other than as required by law.
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: email@example.com or phone: 416-862-2246 toll free: 866-373-6287