"$10M+ Regional Exploration Program Targeting Resource Expansion and New Discoveries"
VANCOUVER, Oct. 16, 2017 /CNW/ - Northern Vertex Mining Corp. (TSX.V:NEE) (OTC Nasdaq Intl.:NHVCF)(the "Company" or "Northern Vertex") is pleased to announce the appointment of Frank (Bud) Hillemeyer and Perry Durning as Exploration Advisors for the Oatman District through an agreement with La Cuesta International Inc. to design a proposed $10 Million+ exploration program to be funded from cash flow at the Moss Mine located in the Oatman District in NW Arizona, USA.
Highlights of the Agreement:
- Access to the La Cuesta Proprietary Resource Data Bank of the Oatman District dating back to the 1970's;
- Identify targets for a $10M exploration program to be funded from production cash flow;
- Issue 200,000 shares of Northern Vertex (released in stages over a period of three years); and
- 200,000 Incentive Options to be granted and vested in stages.
About La Cuesta International
Perry Durning and Frank (Bud) Hillemeyer formed La Cuesta International in 1993 after roughly a decade together at Fischer-Watt Gold, an Arizona and Nevada-based mineral exploration firm. Perry and Bud are recognized for their outstanding record of grassroots discoveries, particularly the:
- San Sebastian Silver-Gold Mine - in production with current resource of 70 million silver equivalent ounces.
- San Agustin Gold Mine - in production with indicated resource of 850,000 oz gold and an inferred resource of 28.26 million ounces silver.
- Pitarrilla Silver Deposit - hosts a Measured & Indicated resource of 526 million oz of silver.
- Camino Rojo Gold Discovery - hosts a Measured & Indicated resource of 7.5 million oz of gold and 64.7 million oz of silver.
- Los Gatos Mine in Chihuahua - presently in development – hosts a measure & indicated resource of 178 million oz of silver eqv. grading 602 g/t silver eqv. and an inferred resource of 47 million oz of silver eqv. grading 405 g/t silver eqv.
In 2010, Bud and Perry received the coveted Thayer Lindsley International Mineral Discoveries Award, in memory of Thayer Lindsley, one of the greatest mine finders in all time.
Kenneth Berry, President and CEO, stated: "We are extremely pleased to welcome Bud and Perry as Advisors for Northern Vertex's proposed $10+ million exploration program within the Oatman district. Their extensive Oatman District Data Bank, knowledge and an unparalleled track record compliments the strength of our existing Team which includes:
- Jim McDonald, Director – CEO Kootenay Silver, former director and founder of Alamos Gold
- Tiziano Romagnoli – Formerly head of BMO Nesbitt Burns, Geneva; A. G. Becker, NYC; Discovery Finance, Geneva
- Joe Bardswich, Director – Founder of Northern Vertex, President Golden Vertex
- Gord Ulrich, Director – Former CEO Luscar, 11 producing mines during his tenure
- David Farrell, Director – $25 Billion in M&A transactions with Endevour Financial
- Mike Haworth, Director – Formerly Head of Mining Sector for JP Morgan London, Founder of Greenstone Resources
- David Stone – Construction Manager – Mine building includes; Beal Mtn., Basin Cr., Yellow Aster and Brewery Creek
- William (Bill) Martinich – Moss Mine Manager, formerly with New Gold, Taseko, Barrick and Placer Dome
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. To the best of management's knowledge, Northern Vertex is the next publicly traded company to initiate gold and silver production, scheduled for Q4 2017, in the USA. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry "
President & CEO
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Neither 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.
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. To the best of management's knowledge, Northern Vertex is the next publicly traded company to initiate gold and silver production scheduled for Q4 2017 in the USA. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
SOURCE Northern Vertex Mining Corp.
For further information: please visit www.northernvertex.com or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.