MacDonald Mines Exploration Ltd.
TSX VENTURE : BMK

MacDonald Mines Exploration Ltd.

March 06, 2017 08:07 ET

MacDonald Mines Introduces Nominees for Election to Board of Directors at Upcoming AGM

TORONTO, ONTARIO--(Marketwired - March 6, 2017) - MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald Mines" or the "Company") is pleased to announce its nominees for the Board of Directors for the annual meeting of shareholders currently scheduled for April 13, 2017 (the "Meeting"). Management of the Company believes that its nominees are experienced industry professionals with a wide array of expertise and background, with the capability and energy to advance the Company's recently acquired mineral projects.

In addition to Quentin Yarie, the Company's currently serving President and CEO, the Company's nominees are:

Tara Gilfillan, CPA, CA. Ms Gilfillan is a finance executive with over 20 years of business experience and has held several senior financial and operational roles in the mining industry. She currently serves as Principal and CFO/VP of Corporate Development for Halyard Inc. a privately owned project engineering company focused on the mineral and metals industry. Tara has expertise in public reporting, business and tax strategy, acquisitions, risk review, setting up international operations and raising capital. She holds a business degree from Queens University.

Gordon McKinnon. Mr. McKinnon is currently serving as President, CEO and a Director of Canadian Orebodies Inc. He is a principal of McKinnon Prospecting Ltd., a private exploration company, and a Director of Capha Pharmaceuticals Incorporated, Fox River Resources Corporation, and Noble Mineral Exploration Inc. Gordon was a co-founder of Mineral Streams Inc., a private mineral royalty company that was recently sold to AuRico Metals Inc.. Prior to joining Canadian Orebodies, he served as Manager of Corporate Development with Baltic Resources Inc., a company which was acquired for over $70M. Gordon graduated with an Honours Bachelor degree in Management and Organizational Studies from the University of Western Ontario in 2006.

Adam Schatzker. Mr. Schatzker has two decades of experience in the mining industry as an equity analyst, investment banker, corporate development executive and consultant. Adam spent 7 years at RBC Capital Markets covering base metals, precious metals, uranium and fertilizer. He was also Executive Vice President of Strategy and Business Development at Uranium One, the fourth largest uranium producer, globally. Adam is currently President of Schatzker Consulting Inc. providing strategy, M&A and investor relations services relating to companies in the mining and nuclear sectors.

Kevin Tanas, P.Eng. Mr. Tanas currently serves as Vice President of Business Development - North America, and Principal Mining Consultant of RungePincockMinarco, a global technical advisory consulting firm. Kevin's 18 years of experience has encompassed project development, conceptual to detailed engineering, commissioning and operational stages of open pit and underground deposits. His expertise lies in mine design and planning, due diligence review, construction monitoring, and financial modeling. Kevin has acted in a project management capacity and as a Qualified Person providing technical services to base metals, precious metals, iron ore, lateritic ore, coal, and energy sectors. His operational and consulting experience spans North America, South America, Africa and Australia.

The Company would like to extend its sincere thanks and best wishes to John Sanderson, QC who has been the Chairman of the Board of the Company for over 20 years. Mr. Sanderson has decided to step aside from active participation on the Board of Directors but has agreed to remain available to consult on issues as they arise. Mr. Sanderson commented "I have been on the Board of MacDonald Mines for more than 20 years as Chairman. It has been somewhat of a roller coaster ride, but with a new direction and exciting new opportunities for the Company, I like what I see and the progress that has been made. I am certain the new Board will achieve high success."

Haydn Butler has also advised the Company that he will not be seeking re-election at the Meeting. The Company also recognizes and thanks Mr. Butler for his commitment and contributions to MacDonald Mines during his 13 years' tenure on the Board of Directors. Mr. Butler has agreed to join the Company's Technical Advisory Committee.

The Company will prepare, file and mail an information circular and related materials to its shareholders in connection with the Meeting, which will contain the prescribed information in respect of the Company and management's nominees for election as directors of the Company. Shareholders are advised to read the circular and related materials carefully as they will contain important information relating to the Meeting.

Qualified Person

Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.

About MacDonald Mines Exploration Ltd.

MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold and silica exploration in Canada. The Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. The Company is aggressively advancing its highly prospective Wawa-Holdsworth Project and Charlevoix Silica Property.

Wawa-Holdsworth Project Highlights:

  • Approximately 285 hectares, 20 kilometres northeast of the town of Wawa
  • Neighbouring Argonaut's >6Moz gold Magino Deposit & Richmont's >1Moz gold Island Gold Mine
  • Numerous gold showings with diversified mineralization styles occurring in a 500 metre-wide deformation corridor
  • Year-long road access and easy access to rail, road, electrical power, labour force and suppliers

Charlevoix Silica Property Highlights:

  • Located approximately 42 kilometres north of Baie-Saint-Paul, Quebec
  • The geology on the property appears to be an extension of the high-purity silica horizons of the Sitec Mine, located within 15 kilometres
  • The Sitec's Silica Mine has been in production for more than 50 years and produces approximately 250,000 tonnes of silica a year. It has an estimated future mine life of over 20 years.
  • Rogue's Silicon Ridge Project is adjacent to the Charlevoix Property. It hosts a measured and indicated resource of 9.7 Mt at 98.6% SiO2 and an inferred resource of 1.6 Mt at 98.56% SiO2 (NI 43-101 Technical report on the Silicon Ridge Mineral Resources Quebec - Canada, June 7, 2016).

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".

This news release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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