Margaux Resources Ltd.

Margaux Resources Ltd.

August 16, 2016 09:00 ET

Margaux Resources Strengthens Management Team With Appointment of Vice President, Exploration

CALGARY, ALBERTA--(Marketwired - Aug. 16, 2016) -


Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Company") is pleased to announce the appointment of Richard Kilpatrick as Vice President of Exploration, who joined the Company on August 15th, 2016.

Tyler Rice, President and CEO, stated: "We are extremely excited to have Richard joining the Margaux team, to have him advance our geology program, and to lead our exploration team. Margaux will benefit greatly from Richard's expertise and depth of knowledge. This appointment demonstrates our confidence in the Company's exploration and growth led strategy on the Jersey Emerald Property."

Mr. Kilpatrick is a registered professional geologist with over 28 years of industry experience in domestic and international exploration, mine operations and consulting for junior and mid-tier companies. Most recently Mr. Kilpatrick held the position of President and CEO of a TSX-V junior listed exploration company, where he led exploration projects for gold in Canada.

Mr. Kilpatrick formerly worked for International Corona, and TVX in roles of increasing responsibility. These roles included Chief Geologist at the New Brittania Mine and Superintendent of Geology at the Olympias Mine development project in Greece. Prior to this, Mr. Kilpatrick was the Consulting Manager for Geology and Mine Engineering for AMEC's Oakville office. Mr. Kilpatrick holds a BSc (Hons) in Geology from the University of Windsor.

"It's a great opportunity to join Margaux at this very dynamic time in the Company's development," said Mr Kilpatrick, "I'm looking forward to working with Dr. Zhao and the rest of the CGMC team, as we move forward with the Company's data mining strategy and future drill program."

It was previously announced that Margaux had retained the services of Dr. Zhao and his Continental Geology & Mining Consulting Inc. ("CGMC") team, who have been conducting field work for Margaux as well contributing to the exploration program and regional targeting. Please see Margaux's August 9th, 2016 press release for further detail on Dr. Zhao and CGMC.

About Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company focused on the exploration and development of the previously producing Jersey Emerald property, located in southeastern British Columbia. The Company is directed by a group of highly successful Canadian businessmen with proven track records. Margaux has an option to earn 100% ownership on the mine. Margaux trades on the TSX Venture Exchange under the symbol MRL.

Forward Looking Statements

This press release may contain forward looking statements including those describing Margaux's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: Margaux's exploration plans and work commitments, the receipt of required regulatory and other approvals as well as other market conditions and economic factors, business and operations strategies. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly 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 release.

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