THUNDER BAY, ONTARIO--(Marketwired - Oct 1, 2014) - Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega") announces the appointment of Anthony (Tony) Makuch to the Board of Directors. Currently, Mr. Makuch is the President and CEO of Lake Shore Gold Corp. ("Lake Shore"). Tony has over 25 years of management, operations and development experience in the mining industry. As President and CEO of Lake Shore Gold, Mr. Makuch has been instrumental in the development of Lake Shore to a 180,000 ounce per year gold producer. Prior to Lake Shore, Mr. Makuch was Senior Vice President and Chief Operating Officer for FNX Mining. Tony holds a Bachelor of Science Degree (Honours Applied Earth Sciences) from the University of Waterloo in Ontario, and both a Masters of Science Degree in Engineering and a Masters of Business Administration from Queen´s University in Ontario.
"Mega Precious is demonstrating that its' flagship Monument Bay Project is a large deposit, with significant growth upside. I am excited about the opportunity to work with the Company at the board level in their efforts to advance the project both in physical size, and more importantly as a developable and long life economically viable mining operation. There is significant potential for value creation for the shareholders as this project is advanced," commented Tony Makuch.
"I'm delighted with the appointment of Tony Makuch to the Board of Mega. Having directly managed and overseen numerous projects advance from exploration to the development stage and commercial production, Tony brings invaluable experience as Monument Bay transitions Mega into a development stage Company," commented Mario Stifano, Chairman of Mega.
In addition to his appointment, Mr. Makuch has been granted 300,000 stock options, vesting immediately. The options are exercisable at $0.10 per share and expire on September 30, 2019.
Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the North Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.
For further information and presentation material, please review the Mega website at www.megapmi.com.
Forward-looking Statements
Certain statements in this press release relating to the completion of the Tranche 1 Financing and the completion of the Offering are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal's filings which are posted on sedar at www.sedar.com.
Neither 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.