ROUYN-NORANDA, QC, Jan. 19, 2017 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) is pleased to announce that its Board of Directors has appointed Mr. Michel Chapdelaine to X-Terra Resources' Board of Directors and to its technical committee.
Mr. Michel Chapdelaine holds a bachelor degree in geological engineering with over 25 years of experience in the exploration, mining and drilling industry, including internationally. As Senior Supervisor Geologist with Virginia Gold Mines, Mr. Chapdelaine has been involved and was responsible for a number of gold and base metals discoveries in James Bay and Northern Québec, including the Coulon base metal deposit and outstandingly the Éléonor Gold Mine, in which Mr. Chapdelaine was directly involved during the sale process to Goldcorp Inc.
"We are delighted that Michel Chapdelaine has agreed to join our Board of Directors" said Michael Ferreira, President & Chief Executive Officer of X-Terra Resources. "We know that X-Terra Resources will benefit from Michel's extensive business experience acumen and contacts. As a member of our technical committee, Mr. Chapdelaine will bring a wealth of knowledge and exploration experience as we advance our option on the Veronneau property".
Mr. Chapdelaine commented "X-Terra Resources is a young, healthy and well-managed company that reminds me of the unbelievable time I worked in exploration. X-Terra Resources' option on the recently discovered Veronneau property gold showing has everything to be successful! A fantastic greenstone belt, unrecognized with all the geological ingredients. I look forward and am excited to work with X-Terra Resources as my passion for exploration has been re-ignited".
In other news, X-Terra Resources announces that its Board of Directors has granted stock options to one director and to its President and Chief Executive Officer in respect of an aggregate of 200,000 common shares. The options were granted under X-Terra Resources' Stock Option Plan. The exercise price of the options is $0.245 per share, which is equal to the last closing price of X-Terra Resources' common shares on the TSX Venture Exchange. The options expire in ten years.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in Canada.
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of X-Terra Resources, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of the Property, or if any of them do so, what benefits X-Terra Resources will derive. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond X-Terra Resources' control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Instruments" and "Risk and Uncertainties in X‑Terra Resources' Annual Report for the fiscal year ended December 31, 2015, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. X-Terra Resources does not intend, nor does X-Terra Resources undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
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 the release.
SOURCE X-Terra Resources Inc.
For further information: X-Terra Resources Inc., 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101, Fax: 819-762-0097, E-mail: [email protected]om, Website: www.xterraresources.com