September 23, 2020 – Gold79 Mines Ltd. (TSX-V: AUU) (“Gold79” or the “Company”) is pleased to announce changes to its board of directors with the appointment of Mr. Derek Macpherson as an independent director effective September 23, 2020. In order to create a vacancy on the board of directors for this appointment, Mr. Robert Johansing has stepped down as a director but remains a member of management in his role as Vice-President of Exploration.
Mr. Macpherson brings technical and capital markets experience to our team. He has a Bachelor of Engineering and Management in Materials Science (Metallurgy) from McMaster University and a Master of Business Administration from the Schulich School of Business. He is currently Vice President, Mining Analyst at Red Cloud Securities Inc. Prior to completing his MBA, he worked for six years as a metallurgist. For the last 10 years, he has worked in capital markets, primarily in mining equity research and for the most part covering junior mining companies. For the last five years, his primary role at Red Cloud has been building the mining research practice; however, during the early days of Red Cloud, while helping to build the business he gained experience in banking, sales, and marketing.
Mr. Gary Thompson, Executive Chairman and CEO stated, “I am pleased to welcome Derek to the Gold79 board of directors. I am confident that his capital markets experience in the junior mining sector positions him well to contribute significantly to the Gold79 board as we continue to position the Company for growth and execute our high-priority exploration programs focused on precious metal prospects in the Southwestern USA.”
Additionally, the Company announces that its board of directors has approved a grant of options for 500,000 common shares to Mr. Macpherson in his role as director of the Company pursuant to the Company’s 2020 Stock Option Plan. These stock options have an exercise price of $0.11 per share and expire on September 24, 2030. These stock options vest immediately. This stock option grant is subject to acceptance by the TSX Venture Exchange.
About Gold79 Mines Ltd.
Gold79 Mines Ltd. (formerly Aura Resources Inc.) is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in the Southwest USA. Gold79 holds 100% earn-in option and / or purchase agreements on three gold projects. The two priority projects are located in Nevada, USA, the Jefferson Canyon Gold Project and the Tip Top Gold Project. The third is located in Arizona, USA and is called the Gold Chain Project. Gold79 holds two projects with minority interest being a 37.1% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited and a 20% interest in the Taviche Project in Oaxaca, Mexico which is operated by Minaurum Gold Inc.
For further information regarding this press release contact: Gary Thompson, Executive Chairman and Chief Executive Officer at (403) 870-1166 or by email at GT@gold79mines.com Gold79’s website is located at www.gold79mines.com.
This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events 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.