TORONTO, March 29, 2017 /CNW/ - Kerr Mines Inc. ("Kerr" or the "Company") (TSX: KER) is pleased to announce the appointment of James McVicar to its the Board of Directors.
As the Company continues to progress its operations and strengthen its leadership team, Mr. McVicar's expertise and his 20 years of experience working with public mining companies will be an invaluable resource for disclosure, compliance and general corporate and strategic matters. Mr. McVicar is a lawyer specializing in financings, mergers and acquisitions, corporate governance and commercial matters for natural resources companies.
"James' broad experience in corporate and securities law will be a valuable resource for the Company," stated Fahad Al Tamimi, Chairman of Kerr Mines. "On behalf of Kerr, its directors and employees, I would like to welcome James to our Board and look forward to his contributions and counsel as we continue to advance our strategy of bringing Copperstone back to production."
Mr. McVicar spent close to three years as legal counsel in the Corporate Finance Branch of the Ontario Securities Commission (OSC) and more recently completed a two-year term with the OSC's Securities Advisory Committee. Mr. McVicar currently sits on the Securities Committee of the Prospectors and Developers Association of Canada. He has been recommended by The Canadian Legal Lexpert Directory as one of Canada's leading lawyers in the area of Mining Law and is recognized by The Legal 500 Canada in the area of Energy – Mining and by Chambers Global in the area of Latin America – Mining. Mr. McVicar was called to the Bar in 1996 after graduating from the University of Alberta (LL.B 1994) and Queens University (BSCH 1989).
Kerr also announces the resignations of Richard Patricio and Christopher Irwin as directors of the Company effective immediately.
"On behalf of the Board, I would like to thank Mr. Patricio and Mr. Irwin for their contributions to Kerr and wish them continued success," said Mr. Al Tamimi.
Kerr is a North American gold exploration and development company based in Toronto, Canada. Kerr's core focus is to commence surface and underground exploration to target a restart of 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; Fiona Grant Leydier, NATIONAL Equicom, [email protected], Tel: 416.848.9851