VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2017) - Northern Empire Resources Corp. (TSX VENTURE:NM) (the "Company" or "Northern Empire") today announced changes to the Company's leadership team which includes the appointment of Mr. Douglas Hurst as Chairman of the Board, Robert Scott as Chief Financial Officer, and Raymond Threlkeld as Senior Advisor to the Board. Mr. John Robins, the Company's founder and former Chairman, will remain an active director to support the Company in the advancement of the Sterling gold project in Nevada.
"The Sterling mine represents a transformative acquisition for the Company," stated John Robins, the Company's founder and outgoing Chairman. "I would like to take this opportunity to welcome Douglas Hurst as my replacement as Chairman of the Board of Directors, Robert Scott as the Company's Chief Financial Officer and Mr. Threlkeld as Senior Advisor to the Board. Northern Empire is committed to building our core strengths as we transition from explorer to developer."
"The Sterling project acquisition provides Northern Empire a dominant land position in a Nevada gold district, with the unique benefit of having a permitted, high-grade, heap leachable gold deposit with existing infrastructure in place," stated Northern Empire's Chairman Douglas Hurst. "I look forward to working with Michael Allen and the rest of the Northern Empire team as we move the Company forward."
Chairman of the Board of Directors - Douglas Hurst has over 30 years of experience in the mining/resource industries having acted as geologist, consultant, mining analyst, and senior executive. Mr. Hurst holds a Bachelor of Science in geology from McMaster University (1986). He was a founding executive of International Royalty Corporation from 2003 to 2006 and a director of the company until 2010 when the company was purchased by Royal Gold for $700 million. Recently, Douglas was also one of the founders of Newmarket Gold which was recently purchased for $ 1.0 billion by Kirkland Lake Gold Ltd.
Chief Financial Officer - Robert Scott, CPA, CA, CFA brings more than 20 years of professional experience in accounting, corporate finance, and merchant and commercial banking. Mr. Scott earned his CFA in 2001, his CA designation in 1998 and has a B.Sc. from the University of British Columbia. He is a founder and president of Corex Management Inc., a private company providing accounting, administration, and corporate compliance services to privately held and publicly traded companies. Mr. Scott has held senior management and board positions with a number of TSX Venture Exchange Issuers, and is currently CFO of Riverside Resources Inc. and Great Bear Resources Ltd.
Senior Advisor to Board - Raymond Threlkeld has over 30 years of mineral industry experience. From 2009 to 2013, Mr. Threlkeld was the President and Chief Executive Officer of Rainy River Resources Ltd. From 2005 to 2009, Mr. Threlkeld was the Chief Operating Officer of Silver Bear Resources Inc. From 2006 to 2009, he was the President and Chief Executive Officer of Western Goldfields Inc. From 1996 to 2005, Mr. Threlkeld held various senior management positions in precious metal mine development with Barrick Gold Corporation and Coeur d'Alene Mines Corporation including the development of the Pierina Mine in Peru, the Bulyanhulu Mine in Tanzania and the Veladero Mine in Argentina. Mr. Threlkeld has had exploration acquisition success in the Western United States in addition to his management and project development experience. In March 2014, Mr. Threlkeld was appointed Chair of the Board of Newmarket Gold Inc. Newmarket Gold was recently purchased for $1.0 billion by Kirkland Lake Gold Ltd. Mr. Threlkeld's principal occupation is a Corporate Director and consultant on natural resource development.
About Northern Empire
On February 15, 2017, Northern Empire announced that it entered into a letter of intent with Sterling Gold Mining Corporation, a wholly owned subsidiary of Imperial Metals Corporation ("Imperial Metals") to acquire a 100% interest in the Sterling property, located in Nye County, Nevada, and certain royalty rights for claims located in Nevada and California. The Sterling project is a fully permitted gold project with exceptional exploration potential and represents a unique opportunity for Northern Empire to rapidly transition from a grass roots explorer to developer. Combined, the land package represents the acquisition of a gold district within Nevada, hosting 3 past producing open pit mines. ON BEHALF OF THE BOARD OF NORTHERN EMPIRE RESOURCES CORP.
Michael G. Allen, President, CEO and Director
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.
Certain information set forth in this news release contains "forward-looking statement", and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations about the completion of the transaction with SGMC and the related financings, future performance based on current results and expected cash costs and are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "will", "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which, may cause the Company's actual performance and financial results in future periods to differ materially from any projects of future performance or results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological risks, the financial markets generally, the results of the due diligence investigations to be conducted by the Company, the ability of the Company to complete the related financings or obtain requisite TSXV acceptance. There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.