VANCOUVER, Sept. 19, 2016 /CNW/ - Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (the "Company") is pleased to announce the appointment of Greg Johnson, as Chief Executive Officer, Director and Chairman of the Board.
Mr. Johnson has over twenty-five years of experience in the mining industry with an exceptional track record in exploration, development and financing of large scale projects to create value for shareholders. Prior to joining Metallic Minerals, Mr. Johnson held the positions of President and CEO at Wellgreen Platinum and South American Silver, and was a co-founder and executive at NovaGold Resources. Mr. Johnson began his career with Placer Dome (now Barrick Gold), where he held various senior roles in domestic and international exploration. Mr. Johnson has developed broad experience in the capital markets and has been involved in raising over $650 million in project financing. For his role in the discovery and advancement of the 40-million-ounce Donlin Creek gold deposit in Alaska, Mr. Johnson was a co-recipient of the PDAC's Thayer Lindsay International Discovery Award. In addition, Mr. Johnson has been recognized for his work in sustainable development and community engagement and was awarded the Robert E. Leckie Award by the Yukon Government for excellence in environmental stewardship.
Mr. Bill Harris, representing the Board of Directors, stated, "We are excited to welcome Mr. Greg Johnson to lead Metallic Minerals and to build a new management and technical team focused on realizing the value and potential of our exploration portfolio. Mr. Johnson has the demonstrated experience and vision that we believe will allow us to successfully advance our projects and maximize shareholder value going forward. Specifically Mr. Johnson brings years of experience in the north, especially the Yukon, Alaska and British Columbia. He was a key member of the management teams that led the discovery or expansion and advancement of a number of world-class precious and base metal deposits in the region including the Wellgreen PGM-nickel, Galore Creek copper-gold-silver and Donlin gold projects."
Mr. Greg Johnson, newly appointed CEO and Chairman, stated, "I truly look forward to the opportunity to join Metallic Minerals at this early stage in its development. Our strategy will be to create value for shareholders through exploration in mining-friendly districts of western North America that have been shown to produce top tier, "company-making" assets, and yet remain under-explored. We believe that the Keno Hill silver district represents such an opportunity, with over 200 million ounces of high-grade silver mined over the past 100 years and one of the highest grade silver resources of any global producing region. Our Keno-Lightning property has seen historic high-grade silver production from at least four different deposits and adjoins Alexco Resource Corp's operations, which contain over 50 million ounces of high-grade silver in current indicated resources1."
Mr. Greg Johnson further stated, "We want to thank Stephen Pearce for his contributions as interim CEO of the Company and look forward to continuing to work with him as a valued member of the Board of Directors going forward."
Metallic Minerals has granted stock options to directors, officers, employees and consultants for a total of 3.4 million common shares exercisable for up to five years at a price of 44 cents per share, based on the closing price of the Company's shares on the TSX-V on Friday, September 16, 2016. The options granted will be subject to applicable regulatory hold periods.
About Metallic Minerals Corp.
Metallic Minerals Corp. is a growth stage silver and gold exploration company focused on creating value through a disciplined entrepreneurial approach to exploration in mining districts with proven high-grade production that remain under-explored. Our core Keno-Lightning property is located in the historic Keno Hill silver district of Canada's Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world's highest grade silver resources. Our McKay Hill silver and gold property is a historic producer and is located northeast of Keno Hill in a newly emerging silver and gold mining district. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Footnote 1: See Alexco website for resource estimate information.
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 Metallic Minerals Corp.
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For further information: Website: www.metallic-minerals.com, Email: [email protected], Phone: 604-629-7800, Toll Free: 1-888-570-4420