TORONTO, April 29, 2014 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta" or the "Company") announces the appointment of Mark Wayne to its Board of Directors, subject to standard TSX approval.
Mr. Wayne was a co-founder, CFO and director of Antares Minerals Inc. from July 2004 to December 2010 when the company was sold to First Quantum Minerals Ltd. in a transaction valued at over $600 million. He was also a co-founder, CFO and director of QGX Ltd. from August 2002 to September 2008, when the company was sold to Kerry Holdings Ltd. for $250 million.
Mr. Wayne is currently Chairman of the board of directors of Alamos Gold Inc. and a director of Castle Mountain Mining Co. Ltd. and serves as a director for other public companies.
He is currently a Vice President of IA Securities Inc. (formerly MGI Securities Inc. "MGI"), a registered investment dealer. Prior to joining MGI in January of 2005, Mark spent four years as CEO, a director and a co-founding shareholder of Lightyear Capital Inc., a Calgary-based investment dealer. Mr. Wayne began his career practicing corporate and securities law for seven years with Bennett Jones LLP and has been directly involved in the investment industry since 1987. Mark founded and was President of AltaFund Investment Corp., a public investment company with over $100 million in assets, from 1987 to 1991. He then joined Altamira, a no-load mutual fund manager, as Vice President, Western Canada, for seven years from 1991 to 1998. Mr. Wayne holds a Bachelor of Law degree from the University of Toronto and is a Chartered Financial Analyst.
The Company also announces that Roger Aubertin has stepped down from the Board of Directors to pursue other interests.
Ian C. Peres, President and CEO said, "We are pleased to welcome Mr. Wayne to the board of directors and look forward to his contribution. His impressive background will be an important asset to the Company. We would also like to thank Mr. Aubertin for his contribution and wish him all the best in his future endeavours."
About Moneta
Moneta holds a 100% interest in 5 core gold projects strategically located along the highly prospective Destor Porcupine Fault Zone in the world class Timmins Camp, one of the best mining jurisdictions in the world with over 75 million ounces of past gold production and unmatched infrastructure including paved highway access, water, electricity, skilled labor force, and nearby mills.
A Preliminary Economic Assessment (December 2012) for the flagship Golden Highway generated a Net Present Value of $748M using US$1,350 gold based on the NI 43-101 resource estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t Au) plus 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres of similar geology. The reader is cautioned that Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Moneta's public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
SOURCE Moneta Porcupine Mines Inc.
For further information: Ian C. Peres, President & CEO, 416-579-3040 (Toronto), 705-264-2296 (Timmins),
iperes@monetaporcupine.com
