VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 22, 2012) - First Americas Gold Corporation (TSX VENTURE:FAC) ("First Americas" or the "Company") is pleased to announce that, effective March 22, 2012, Dr. Robert Thompson, PhD, PEng, has been appointed to its Board of Directors.
Dr. Thompson graduated from Queens University with a PhD in geology in 1972. He worked as project geologist for the British Columbia Department of Mines until 1974 when he joined the Geological Survey of Canada as Research Scientist. Dr. Thompson led major geological surveys in British Columbia and the Yukon; was seconded as advisor to the Deputy Minister of Energy Mines and Petroleum Resources; and served as technical advisor to the Bolivian Government under the auspices of the Petro Canada International Aid Corporation. Most recently, Dr. Thompson has acted as consultant to several junior mineral exploration companies and is currently serving as Chief Geologist of Northern Vertex Capital Inc.
As a research scientist, Dr. Thompson remained a hands-on leader, spearheading field-based surveys focusing on a better understanding of Canada's mineral and petroleum resource endowment. His contributions, which include more than 100 peer-reviewed maps and publications, innovative ideas, and project leadership, were recognized by the Canadian Society of Petroleum Geologists, who awarded him the RJW Douglas Medal for contributions to the structural and stratigraphic understanding of Canada's western sedimentary basin.
Drew Bonnell, President of First Americas, commented, "Having Dr. Bob Thompson join our Board is a significant advancement for the Company. Bob brings a wealth of technical knowledge and expertise and is highly respected in his field, the boardroom and the geological community at large. We are pleased to have him join our team."
Adoption of New Stock Option Plan and Grant of Stock Options
The Company is also pleased to announce that its board of directors has approved a new 2012 Stock Option Plan (the "Plan"). The Plan allows for the granting of stock options (each, an "Option") to eligible employees, officers, directors and consultants of the Company to acquire up to such number of common shares of the Company (each, a "Share") as is equal to 20% of the issued and outstanding Shares on the date of approval of the Plan by the Company's shareholders. The Plan is subject to the approval of the Company's shareholders and of the TSX Venture Exchange (the "Exchange").
The Company also announces that it has granted an aggregate of 790,000 Options to directors of the Company pursuant to the Plan. Each Option is exercisable into one Share at a price of $0.25 per Share for ten years from the date of grant, provided that, pursuant to the policies of the Exchange, none of the Options may be exercised until the Company has obtained shareholder approval for the Plan.
About First Americas
First Americas is a precious metals exploration and development company with a current focus of operations in the southwestern United States. The Company is comprised of an experienced management group with a strong background in all aspects of acquisition, exploration, development and financing of resource based projects. The Company's mandate is to acquire, develop and advance asset based mineral projects that demonstrate near term production potential and long term sustainable growth.
ON BEHALF OF THE BOARD
FIRST AMERICAS GOLD CORPORATION
Drew M. Bonnell, President and CEO
For further information, please visit www.firstamericasgold.com.