TORONTO, Dec. 20, 2016 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX:KER) is pleased to announce the appointment of Mr. Richard Patricio to the board of directors. Mr. Patricio is a qualified lawyer in Ontario and has over 15 years of experience working with and for public companies. Mr. Patricio has built a number of mining companies with global operations and spent 10 years with an investment company focused in the resource and early-stage investment space. Mr. Patricio holds and has held senior officer and director positions in several junior mining companies that are listed on the TSX, ASX, NYSE and AIM exchanges. Mr. Patricio is currently the CEO and President of TSX-listed Mega Uranium Ltd. a uranium-focused investment and development company with assets in Canada and Australia.
"We are delighted to have Richard join our board at this important time for the Company," said Fahad al Tamimi, Chairman of the Board of Kerr. "His mining industry experience and extensive knowledge of capital markets and regulatory and compliance issues will undoubtedly serve the Company well."
Kerr is a North American gold exploration and development company based in Toronto, Canada. Kerr's core focus is to commence operations at the Copperstone Mine in Arizona. The Copperstone Mine produced nearly 500,000 ounces of gold through open pit mining. Existing infrastructure which remains from this time, or which has been subsequently installed by the Company's predecessor and wholly owned subsidiary, American Bonanza Gold Corp., is considerable and serves to reduce the current capital requirements for the mine. Existing infrastructure includes a power line and substation, and three water wells, all sufficient for the proposed operations at Copperstone. Additional infrastructure on site includes offices, maintenance shops and a laboratory building permitted tailings facility, processing facility and mill.
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines' business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Kerr Mines Inc.
For further information: Chris Hopkins, Interim President & Chief Executive Officer, Email: [email protected], Tel: 416.786.9793