Stronghold Metals Inc.

Stronghold Metals Inc.

August 31, 2010 09:00 ET

Stronghold Announces Dr. Michael J. Byron Joins Senior Management Team as Vice President of Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2010) - STRONGHOLD METALS INC. ("Stronghold" or the "Company") (TSX VENTURE:Z) - Stronghold is pleased to announce that Dr. Michael J. Byron has accepted an offer to join the Company's senior management team as Vice President of Exploration. In that capacity Dr. Byron will be responsible for conducting all exploration and technical activities for Stronghold, including having overall responsibility for Stronghold's exploration activities, strategic planning, developing and managing exploration budgets and building the Company's technical team. In addition, as part of senior management Dr. Byron will provide his expertise to assist the Company in achieving its corporate strategy; which is to rapidly grow through a combination of exploration and development of its existing highly prospective projects, as well as aggressively identifying future prospective business opportunities for acquisition.

Dr. Byron has 25 years of domestic and international field and senior management experience in gold, base-metal, magmatic nickel-copper-platinum group elements, rare earth elements, diamond, and gemstone exploration, spanning employment within the mineral exploration industry, government, and educational institutions. He is a professional geoscientist registered with The Association of Professional Geoscientists of Ontario and holds several advanced degrees in Geology including a Ph.D from Carleton University of Ottawa, Ontario. Mike began his career as an exploration geologist with LAC Minerals and INCO Gold Inc. and has managed a wide variety of exploration programs for companies such as Falconbridge Limited, Canabrava Diamond Corporation and Aurora Platinum Corp. He was Vice President of Exploration for Aurora Platinum Corp. and Lake Shore Gold Corp. and was instrumental in the growth of Lake Shore Gold Corp. from its initial listing to the acquisition and development of the Timmins West Gold Deposit. Most recently he was the President, CEO and a Director of Merc International Minerals Inc.

Yannis Tsitos, President and CEO of Stronghold stated: "We are thrilled to have Mike Byron join our senior management team at Stronghold. We interviewed several candidates for the position of Vice President, Exploration and quickly came to the conclusion that Mike was the ideal candidate for the job. He has a tremendous amount of experience including extensive field experience in South America. Dr. Byron's first task will be to complete the planning of the first drill program on our Tucuma Project. Over and above that task, we look forward to his input on the Company's overall growth strategy. Our goal is to rapidly grow the Company into a mid-tier company with a primary focus on gold production and a secondary focus on copper exploration and development through a combination of exploration and development of our existing portfolio of highly prospective projects and acquisitions of high quality assets with "blue sky" potential. We expect Mike to be instrumental in the identification, review and acquisition of additional gold projects in South America."

Dr. Byron stated: "I recently met with Stronghold's management team and was immediately impressed with the breath of their knowledge and experience and their focused vision and growth strategy. I believe that management and Stronghold's board of directors have excellent project generative abilities and look forward to complementing the team. I am very excited about the Company's current and future prospects. In particular the Tucuma Project located in Para State, Brazil represents an excellent opportunity to explore for shear hosted economic gold vein mineralization. The Filomena gold target is part of an extensive gold soil geochemistry anomaly, greater than ten square kilometres in size. This specific target was investigated in 1997 with only two diamond drill holes. Two gold mineralized horizons were cut (core intervals): 9.12 of 6.09g/t Au in saprolite (54m depth) and 14.76m with 6.40g/t Au in bedrock (112m depth)). Within this last interval, 1.16m assayed 30.17g/t Au. Numerous other gold targets exist within the Cuca grid, which have never been checked and merit further exploration and drilling. We are planning a 15 hole diamond drill program to confirm historical results and test the mineralized horizon, details of which I expect to release shortly."

As part of Dr. Byron's employment package, the Company has granted him an option to acquire 500,000 common shares of the capital of the company at an exercise price of $0.45 per share. The Options have a term of five years and are subject to standard vesting provisions.

On behalf of The Board of Directors of Stronghold Metals Inc.

"Ioannis (Yannis) Tsitos"
President, CEO & Director

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.

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.

Contact Information

  • Stronghold Metals Inc.
    Ioannis (Yannis) Tsitos
    President, CEO & Director
    +1 604.806.0916
    +1 604.806.0956 (FAX)