Darnley Bay Resources Limited

Darnley Bay Resources Limited

December 21, 2016 15:08 ET

Darnley Bay appoints John Key as Chief Operating Officer

TORONTO, ONTARIO--(Marketwired - Dec. 21, 2016) - Darnley Bay Resources Limited ("Darnley Bay" or the "Company") (TSX VENTURE:DBL) is pleased to announce the appointment of John L. Key as Chief Operating Officer of the Company. Mr. Key is a mining engineer with significant experience in general management of both underground and open pit base metals mines in Canada and the United States, including two in far-north operating conditions. His 40 years of industry experience in senior management includes 28 years at Cominco Ltd. and its successor Teck Cominco, where he was general manager of three major mining operations.

"This hiring is the first step in building an experienced production team to take the Pine Point project through feasibility, and if warranted, into production," said Jamie Levy, President and CEO. "John's extensive experience mining both open pit and underground zinc mines in the far north is invaluable."

Over the course of his career, Mr. Key held several senior management and executive positions, including President and CEO of Gryphon Gold Corporation, a TSX-listed company, from 2008 to 2012. During his tenure, Mr. Key's leadership was crucial in advancing Gryphon Gold from small junior exploration company to a production-stage mining company.

Mr. Key was also General Manager of the largest open pit zinc mine in the world during his tenure as General Manager of Red Dog Operations for Teck Cominco in Alaska, from 1996-2001. Mr. Key's numerous accomplishments during his time operating in the arctic environment at Red Dog are highlighted by two major mine expansion projects, which in aggregate required the oversight of a budget of some $300 million and increased the annual production rate from 500,000 tonnes of zinc concentrates to over 1 million tonnes of concentrates.

Mr. Key was also General Manager of Cominco's Polaris underground lead-zinc mine located 60 km from the magnetic north pole in the Northwest Territories from 1993 to 1995. His considerable experience in permitting, community relations and other regulatory issues in the N.W.T. will be crucial in advancing Pine Point to the production stage of development, including the permitting of several open pit and underground deposits at Pine Point. Previous to this position he was also General Manager of Cominco's Magmont lead-zinc mine in Missouri from 1982-1993 and United Salt's salt mine in Hockley, Texas from 1979-1981.

Mr. Key holds a Bachelor of Science (BS), and a Professional Degree in Mining Engineering, Mineral and Mineral Engineering from the University of Missouri.

The appointment of Mr. Key is subject to clearance of a PIF by the TSX Venture Exchange.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Darnley Bay expects are forward-looking statements. Although Darnley Bay believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Darnley Bay, investors should review registered filings at www.sedar.com.

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.

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