VANCOUVER, June 21, 2013 /CNW/ - Wildcat Silver Corporation (TSX: WS) ("Wildcat") is pleased to announce that Donald Young was elected to its Board of Directors at its Annual General Meeting ("AGM") today.
Donald Young has more than 35 years of experience working in the mining industry and, for many years, in public practice. He is a retired KPMG LLP partner. Before joining KPMG, he worked for Placer Dome Inc (now Barrick Gold Corporation). In public practice, he worked both as an audit partner and, for a few years, as a management consulting partner focused on operational and organization reviews, governance, and control/ risk management. He is a Fellow and past president of the British Columbia Institute of Chartered Accountants. He is a member of the Institute of Corporate Directors. He currently serves on the Boards of Dundee Precious Metals Inc. and Midas Gold Corp. He has served on the Boards of other publicly listed and not for profit organizations, including Science World British Columbia, British Columbia Safety Authority and the Canadian Institute of Chartered Accountants.
Richard Warke, Wildcat's chairman and CEO commented, "Don's extensive accounting background particularly in mining will be a great contribution to Wildcat. His experience will be a good complement to the expertise of our Board and we welcome him to the team."
The Wildcat Board of Directors is now comprised of: Richard W. Warke (Chairman and CEO), Gilmour Clausen (Vice Chairman), R. Stuart Angus, Donald B. Clark, Robert P. Wares and Donald Young.
A summary of the results for the election of Wildcat's Board of Directors at the Company's AGM is provided below.
|Name of Nominee||Votes For||%|| Votes
|R. Stuart Angus||67,375,051||98.05%||1,338,404||1.95%|
|Donald B. Clark||67,373,669||98.05%||1,339,786||1.95%|
|Robert P. Wares||67,367,802||98.04%||1,345,653||1.96%|
|Richard W. Warke||67,373,669||98.05%||1,339,786||1.95%|
Shareholders also voted in favour of the appointment of PriceWaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorized directors to fix their remuneration.
A total of 77,141,351 Wildcat common shares were voted, representing 53.89% of total shares issued and outstanding as at the record date of the AGM.
Wildcat is a Canadian mineral exploration company focused on the development of its 80% owned Hermosa silver project located in Santa Cruz County, Arizona. The project currently has a preliminary economic assessment completed which estimates average annual production of over 15 million ounces of silver for the first five years and a 16 year mine life, making it one of the largest undeveloped silver projects in the USA. Hermosa's measured and indicated mineral resource consists of 194 million tonnes averaging 37.7 grams per tonne silver for a total of 236 million ounces of silver and an inferred mineral resource of 80 million tonnes averaging 30.9 grams per tonne silver for a total of 79 million ounces of silver as announced in the August 9, 2012 press release.
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by Wildcat, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in Wildcat's management's discussion and analysis for the period ended December 31, 2012 ("MD&A"). Wildcat cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risks and Uncertainties" in the MD&A.
Although Wildcat has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Wildcat 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 law.
SOURCE: Wildcat Silver Corporation
For further information:
Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications
Telephone: +1 416 860 6310
Email: [email protected]