Margaux Resources Ltd.
TSX VENTURE : MRL

Margaux Resources Ltd.

October 08, 2014 18:40 ET

Margaux Resources Ltd. Announces Rig Mobilization and Commencement of Drilling

CALGARY, ALBERTA--(Marketwired - Oct. 8, 2014) -

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Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Corporation") is pleased to announce that a drill rig was mobilized and drilling commenced on the Corporation's 2014 drilling program on its Jersey Emerald Tungsten-Zinc property ("Property"), located in southeastern B.C.

Tyler Rice, President and Chief Executive Officer stated, "I am pleased to make this announcement on behalf of Margaux as this marks a new era for the Corporation with the commencement of the Corporation's 2014 drilling program. Margaux will be drilling approximately 5,500 meters in total over approximately thirty holes. The drilling program is estimated to be completed this fall with assays to be completed shortly thereafter."

In addition, the Corporation is pleased to announce the addition of Mr. Douglas Foster to the Board of Directors of the Corporation, effective immediately. Mr. Foster has had a banking career spanning 25 plus years, having left Scotia Capital in 2002 to become the founding President of Bank West, the first new Canadian startup Schedule 1 Bank chartered under Bill C-8. During his banking tenure he has been involved with structuring, consulting, and financing of major national and international infrastructure projects. Mr. Foster has a B.Sc in Chemistry from the University of Waterloo and MBA from McMaster.

The Corporation would also like to announce the resignation of Mr. Gerald Facciani as Director of the Corporation.

Tyler Rice, President and CEO of the Corporation, on behalf of the Board of Directors and the Corporation would like to thank Mr. Facciani for his years of service and contribution to the Corporation.

About Margaux Resources Ltd.: Margaux is based in Calgary, Alberta and a publicly traded resource company with oil and gas exploration and production and an option on the Jersey Emerald Tungsten-Zinc Property.

Cautionary Statements

This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the size and timing of the Corporation's 2014 drill program.

Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements and information but which may prove to be incorrect.

Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

The forward-looking statements contained in this press release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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 press release.

Contact Information

  • Margaux Resources Ltd.
    Tyler Rice
    President
    (403) 537-5590