VANCOUVER, May 27, 2015 /CNW/ - Wildcat Silver Corporation (TSX: WS) ("Wildcat" or the "Company") announces the appointment of Professor Poonam Puri to its Board of Directors.
Poonam Puri, Professor of Law at Osgoode Hall Law School and affiliated scholar to Davies Ward Phillips & Vineberg LLP, is one of Canada's most respected scholars and commentators on issues of corporate governance, corporate law, securities law and financial regulation. She was Associate Dean, Research, Graduate Studies and Institutional Relations at Osgoode Hall Law School from July 2011 to September 2013 before taking on the role of Associate Dean until July 2014. She was also Co-Director of the Hennick Centre for Business and Law, a joint initiative of Osgoode Hall Law School and the Schulich School of Business at York University, from July 2008 to June 2013. In 2008, Professor Puri was appointed as one of two research directors of the Canadian Ministry of Finance's Expert Panel on Securities Regulation, which led to the proposed common securities regulator. In 2005, she was co-research director of the Task Force to Modernize Securities Legislation and also served as a member of the Ontario Securities Commission's Investor Advisory Committee from 2005 to 2007. In 2011, Professor Puri was named one of the 100 Most Powerful Women in Canada by the Women's Executive Network.
Professor Puri is a member of the Board of Directors of the Greater Toronto Airports Authority and chaired its Corporate Governance and Nominating Committee for four years. She also sits on the Board of Directors of Toronto's Women's College Hospital and is currently chair of its Nominating and Corporate Governance Committee. Professor Puri has a Bachelor of Laws (LLB) degree from the University of Toronto and a Master of Laws (LLM) degree from Harvard Law School.
Richard Warke, Wildcat's Chairman and CEO commented, "We are very pleased to have Ms. Puri join our Board as an independent director at this exciting time in the Company's development. We look forward to her corporate governance expertise and business insight as we build on the recent exploration success at our Hermosa North West project."
Wildcat is a Canadian mineral exploration company focused on the development of its 80% owned Hermosa property located in Santa Cruz County, Arizona. The Hermosa property currently has two distinct projects: Hermosa NW, a zinc-lead-silver carbonate replacement zone sulfide mineral exploration project; and Hermosa Central, a silver-manganese manto oxide development project. Hermosa NW has a resource calculated in accordance with NI 43-101 and is currently being drilled to test the limits of that resource. The Company released the results of the first five holes of the current drill program on Hermosa NW in May, 2015 that showed high grade zinc, lead and silver intercepts over significant thicknesses. Hermosa Central's December 2013 prefeasibility study indicates it is expected to be one of the largest primary silver producers as well as the only electrolytic manganese metal producer in the USA at industry low cash costs. The pre-feasibility study estimates annual production of 5.7 million ounces of silver and 110 million pounds of electrolytic manganese metal (EMM) at average cash costs of $4.41 per silver ounce and $0.74 per EMM pound over an 18 year mine life.
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 including statements with respect to the Company's intentions for its Hermosa property in Arizona, USA including, without limitation, drilling, updating the resource and metallurgical testing on Hermosa NW and expected future mineral production and operating costs on Hermosa Central. 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 year ended December 31, 2014 ("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 zinc, lead, 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: Paul Ireland, CFO on 604-484-3597, e-mail [email protected]