TORONTO, June 12, 2012 /CNW/ - Temex Resources Corp. (TSX-V: TME) (FWB: TQ1) ("Temex" or "the Company" or "the Corporation") is pleased to announce the appointments of Mr. Greg Gibson and Mr. Ron Goldsack to the Board of Directors of the Corporation effective immediately.
"I am delighted to welcome both Greg and Ron to the Board of Directors of Temex," said Ian Campbell, President and CEO. "Greg brings to Temex a wealth of experience in all aspects of junior mining company operations and his contributions will be invaluable as we take our Company to the next level. Ron's vast experience in corporate finance greatly strengthens our team and he will play an important role in accelerating our growth."
Mr. Gibson is a 30 year veteran of the mining industry having worked as a mine manager in gold and copper mines in Australia, a nickel mine in Timmins, Ontario and a gold mine in British Columbia. Mr. Gibson has worked for JS Redpath in Canada and the USA, Dynatec Mining Ltd. in Canada and the USA, Yilgarn Star Gold Mine in Australia and Copper Mines of Tasmania in Australia. Mr. Gibson is currently the President, CEO and a director of Trelawney Mining and Exploration Inc.
Mr. Goldsack has been active in the investment business for decades and he has a long successful history in corporate finance. He was a Vice President of Wood Gundy and Co. Inc. in Toronto and New York where he helped build their research department and was also active in institutional sales, trading and corporate finance. He then became a co-founder, Vice Chairman and Director of Gordon Capital for approximately 28 years after which he was a partner at Griffiths McBurney and Partners ("GMP") for 3 years. Mr. Goldsack also served as a director of Goldcorp Inc. He currently acts as a consultant to companies regarding corporate finance and M&A advice to public and private companies.
Concurrent with the new appointments, Mr. Nelson Baker and Mr. Angus Footman have retired from the Board of Directors of the Corporation. Mr. Footman has served as a Director since 2003 and has contributed in many ways including acting on all committees and as Chairman of the Board for lengthy periods of time. Mr. Baker joined Temex in 2005 as a Director and has been instrumental in the development of Temex's gold asset portfolio and will now be focusing on other professional commitments.
"On behalf of all of us at Temex, I want to recognize the efforts of both Angus and Nelson and thank them for their tremendous and consistent contributions to the success of our company. I am pleased they will continue to assist the company and we also wish them all the best in their future endeavors," expressed Ian Campbell, President and CEO.
Effective with the appointments, Mr Gibson and Mr. Goldsack have each been granted options to purchase 500,000 common shares of Temex Resources Corp. Each such option may be exercised at a price of $0.20 per share for a period of 5 years.
On behalf of the Board of Directors,
President and CEO
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in northeastern Ontario, a world class mining district. Temex is exploring its Timmins Whitney Property, in partnership with Goldcorp, and its Juby Gold Project. The Juby Main Zone has NI 43-101 compliant resources of 22.3 million tonnes at a grade of 1.30 g/t gold for 934,645 ounces of gold in the Indicated category and 28.2 million tonnes at a grade of 1.00 g/t gold for 905,621 ounces of gold in the Inferred category, both at a cut-off grade of 0.40 g/t gold (Note 1). Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project (Note 2). The tailings piles contain a NI 43-101 compliant resource of 1.94 million tonnes grading 47.5 g/t silver for a contained resource of 2.96 million ounces of silver in the Indicated category.
- Information regarding the mineral resource estimate on the Juby Main Zone is in the Company's news release dated January 16, 2012 and the technical report filed on SEDAR February 28, 2012. The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario according to the "CIM Standards on Mineral Resources and Reserves: Definition and Guidelines" (December, 2005), by Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and Allan Armitage, PhD, P.Geol., "independent qualified persons" as defined by NI 43-101.
- Information regarding the mineral resource estimate in the tailings piles located on the Gowganda Silver Project is in the Company's news release dated June 8, 2011 and the technical report filed on SEDAR July 21, 2011. The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario according to the "CIM Standards on Mineral Resources and Reserves: Definition and Guidelines" (December, 2005), by Allan Armitage, PhD, P.Geol., Alan Sexton, MSc, P.Geo. and Joe Campbell, BSc, P.Geo., "independent qualified persons" as defined by NI 43-101.
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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.
For further information: