Shares outstanding: 28,510,116
PASS LAKE, ON, May 18 /CNW/ - James R. B. Parres, President & CEO of Jiminex Inc. is pleased to announce that Mark Billings has been appointed to the Company's board of directors. Mr. Parres states that "Mr. Billings is well-experienced in the formation, financing and management of junior mining resource companies. His appointment as a director will add important areas of expertise to, and improve the balance of, the Jiminex board."
Mr. Billings is President and CEO of Orex Exploration Inc., a junior mining gold exploration company operating in Nova Scotia and also is the Chief Financial Officer of Argex Silver Capital Inc., a junior mining exploration company operating in Quebec. He is also on the board of directors of a number of public companies in Canada and the United States. Mr. Billings holds a Master of Business Administration degree, with honors, from the Harvard Business School, where he graduated in 1995. In 2002, Mr. Billings was awarded the Chartered Financial Analyst (CFA) designation.
Additionally, Jiminex reports that it has issued a total of 400,000 incentive stock options on May 17, 2010. Directors were granted 350,000 incentive stock options while the balance was issued to one consultant of the company. These incentive stock options are exercisable at $0.15 with an expiry date of May 17, 2015.
Jiminex Inc. was listed as a junior resource company on the TSX venture exchange in late August 2009 and is focused on gold exploration in Canada. The Company has acquired three high potential gold properties located in three separate well-known gold and copper-zinc mining camps. Jiminex's Misehkow River property is located in the Pickle Lake gold mining region of Ontario near to the Pickle Crow Project of PC Gold Inc. Misehkow River presents an opportunity to locate significant iron formation hosted gold deposits over a large target area of approximately 23 kilometres. The Parres and Parres Two properties are located in the well-known Snow Lake copper-zinc and gold mining camp of Manitoba where the major new Lalor Lake copper-zinc and gold deposit discovery of HudBay Minerals Inc. is actively being explored and developed. Jiminex is also present in the Hemlo gold mining camp, Ontario close to the 21 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corp. The Northern Eagle gold property is considered one of the best target areas in which to locate another Hemlo-style World-Class gold deposit and Jiminex is earning a 50% interest from Beaufield Resources Inc.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is the qualified person responsible for the geotechnical content of the Company's public information.
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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.
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SOURCE JIMINEX INC.
For further information: For further information: Jim Parres, President & CEO, Phone: (807) 977-1679, Fax: (807) 977-1769, Email: email@example.com, Website: http://www.jiminex.com