SOURCE: Integra Gold Corp.

Integra Gold Corp

October 09, 2014 13:37 ET

Integra Gold Appoints Langis St-Pierre as Chief Operating Officer

VANCOUVER, BC--(Marketwired - October 09, 2014) - Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce the appointment of Langis St-Pierre as Chief Operating Officer ("COO") of the Company effective October 1, 2014. Mr. St-Pierre brings over 27 years of experience to the Company, including extensive knowledge of operating and managing underground mines. Mr. St-Pierre will be responsible for development operations at the combined Sigma-Lamaque Milling Facility and Mine and Lamaque South Project ("Lamaque") in Val-d'Or, Québec.

Mr. St-Pierre studied Mining Engineering at Laval University before beginning a 27 year career at Cambior Inc. ("Cambior"), and subsequently IAMGOLD Corp. ("IAMGOLD") following its acquisition of Cambior in 2006. During his 27 years at Cambior/IAMGOLD, Mr. St-Pierre worked on base-metal and gold deposits and held a variety of positions before rising to Mine Manager and General Manager at multiple Québec mining operations, including the Langlois Mine, the Bouchard-Hébert Mine, the Sleeping Giant Mine, and the Doyon Mine. In 2010, Mr. St-Pierre was appointed President and General Manager of IAMGOLD S.A. Burkina Faso ("IAMGOLD S.A"), a subsidiary of IAMGOLD. As President and General Manager of IAMGOLD S.A., Mr. St-Pierre oversaw 2,300 employees and mining operations that produced on average 350,000 ounces of gold annually.

"Langis is a very well-known and experienced mine developer and operator in the Abitibi region. He possesses an outstanding track record and the team at Integra Gold are very pleased to welcome Langis on-board. His experience as a Mine Manager and General Manager at several mines, and more specifically his experience in developing and operating underground mines, will help ensure the Lamaque Project is brought into production both efficiently and profitably," noted Integra CEO and President Stephen de Jong. "The acquisition of the Sigma-Lamaque Mill and Mine was a major catalyst for the Company, and we were committed to bringing on board a COO who had the experience necessary to re-start the mill and manage development and production planning at Lamaque South."

The Company also announces it has granted 800,000 stock options to its COO in accordance with its stock option plan. The options are priced at $0.245, vest as to 25% every six months, and expire on October 9, 2021.

Sigma-Lamaque Mill and Mines Acquisition

The Company completed the required conditions and closed the acquisition of the Sigma-Lamaque Milling Facility and Mines (the "Property") on October 7, 2014 (reference news release dated October 9, 2014).

The Property was owned by Century Mining Corporation ("Century"), and Samson Bélair / Deloitte & Touche Inc. was appointed the receiver (the "Receiver") to the assets of Century pursuant to a receivership order of the Québec Superior Court (the "Court") dated May 29, 2012. The Property was acquired from the Receiver, acting in such capacity. The aggregate purchase price is approximately $8 million, comprised of approximately $1.8 million in cash and 25 million common shares valued at $6.25 million. Integra paid $500,000 of the cash consideration to a third party for the crusher and related assets located on the Property.

Project and Company Profile

Integra's Lamaque South gold project is located in the heart of the Val-d'Or gold camp in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.

The Company's primary objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is divided into three main clusters of gold deposits, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine deposits and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug and Triangle deposits. The Sixteen Zone and No. 6 Vein form the West Cluster.

Qualified Person

The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the Company, and Francois Chabot, Eng., Operations and Engineering Manager of the Company, both Qualified Persons ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QPs as defined by National Instrument 43-101. The Company's QPs have approved the scientific and technical content of this release.

Quality Assurance - Quality Control ("QA/QC")

Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to Bourlamaque Lab in Val-d'Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption finish, with a gravimetric finish completed for samples exceeding 5 g/t Au, or a metallic sieve assay for all samples containing visible gold. When available the gravimetric or metallic sieve assay results are used for the reported composite intervals.


Stephen de Jong
CEO & President

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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 news release.

Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of an updated resource estimate, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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