TORONTO, July 18, 2019 /CNW/ - RNC Minerals ("RNC") (TSX: RNX) announced today that Mark Selby, President and Chief Executive Officer ("CEO") has resigned for personal reasons from the Company effective immediately. Paul Andre Huet, Executive Chair of the Board, has been appointed Interim CEO.
"Mark Selby has been instrumental in the growth of RNC Minerals to establish the Company to where we are today. On behalf of the Board of Directors, I would like to thank Mark for his efforts and many accomplishments," said Paul Andre Huet, Executive Chair of the Board and Interim CEO of RNC Minerals. "RNC is well-positioned for growth and success. With the Beta Hunt gold mine and the recent acquisition of the Higginsville Gold Operation, we have transformed our Australian operations into a multi-mine gold operation. Our asset in Canada, the Dumont Nickel-Cobalt Project, is well-positioned to capitalize on the development of the metals required for the growth the electric vehicle segment. As Interim CEO, I look forward to working with management and the Board to pursue our priorities and to generate value for shareholders."
"RNC is in an excellent position today thanks to the hard work of the entire team over many years," said Mark Selby. "I look forward to watching the future growth of RNC and wish the team every success."
Paul Andre Huet has more than 30 years of mining industry experience with a proven track record of building shareholder value. He served as President, CEO and Director of Klondex Mines from 2012 to 2018. Prior to this, he served as Chief Operating Officer of Premier Gold Mines. He serves on the inaugural Board of Havilah Mining Corporation and has also served on several non-profit and publicly traded company boards. Mr. Huet earned an Honors degree in Mining Engineering Technology from Haileybury School of Mines in Ontario and completed the Stanford Executive Program at the Stanford University School of Business.
About RNC Minerals
RNC has a 100% interest in the producing Beta Hunt gold mine located in Western Australia where a significant high-grade gold discovery - "Father's Day Vein" - was made. Beta Hunt gold resource potential is underpinned by multiple gold shears with gold intersections across a 4 km strike length which remain open in multiple directions adjacent to an existing 5 km ramp network. RNC has a 100% interest in the Higginsville Gold Operation in Western Australia, which is comprised of a low cost 1.3 Mtpa gold mill and a substantial portfolio of gold tenements. In addition, RNC owns a 28% interest in a nickel joint venture that owns the Dumont Nickel-Cobalt Project located in the Abitibi region of Quebec which contains the second largest nickel reserve and ninth largest cobalt reserve in the world. RNC also owns a 24% interest in Orford Mining Corporation, a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. RNC has a strong management team and Board with over 100 years of mining experience. RNC's common shares trade on the TSX under the symbol RNX. RNC shares also trade on the OTCQX market under the symbol RNKLF.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information".
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC's filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE RNC Minerals
For further information: Rob Buchanan, Director, Investor Relations, T: (416) 363-0649, www.rncminerals.com