Thursday, February 24, 2011 |
NEWS |
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Klondex Names Robin Goad, Veteran Geologist and Mining Industry Executive, to its Board of Directors
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Vancouver, BC - February 24, 2011 - Klondex Mines Ltd. (TSX: KDX) announced today the appointment of veteran geologist and mining industry executive, Robin E. Goad, M.Sc., P.Geo., to its Board of Directors. Mr. Goad is President and C.E.O. of Fortune Minerals Limited (TSX: FT), a diversified resource company with several mineral deposits and exploration projects in Canada. Mr. Goad will serve on Klondex's Audit Committee. His appointment increases the Klondex Board to six members.
Mr. Goad is a professional geologist with nearly 30 years of experience in the mining and exploration industries on a global basis. Prior to founding Fortune Minerals, he worked for major mining companies and as a consultant to mid-tier and junior resource companies. Mr. Goad is a director of the Northwest Territories and Nunavut Chamber of Mines, serves as a director of Andor Mining Inc., and has served as President and a director of other TSX listed resource companies.
William J. Solloway, Chairman and CEO of Klondex, commented, "Klondex is very pleased to announce the appointment of Robin Goad to its Board of Directors. His outstanding career in mining greatly strengthens KDX's Board and operational management resources. His experience in bringing large, valuable projects to fruition is a timely complement to our development efforts at Fire Creek, our high-grade gold property in Nevada.
"Robin possesses a proud heritage in mining and finance from his grandfather's brokerage firm, J. L. Goad, and his father's St. Lawrence Securities, firms that underwrote many of today's producing mines. He's applied those origins and his geologic training at Fortune Minerals, which has built a strong portfolio of deposits which include metallurgical coal in northwest British Columbia, a gold-cobalt-bismuth-copper mine and concentrator in the Northwest Territories, and a hydrometallurgical refinery in Saskatchewan, all in the development stage for production."
As of December 31, 2010 Klondex Mines had 36,544,089 shares issued and outstanding, 41,319,089 shares on a fully diluted basis, and approximately CDN $8 million in cash.
About Klondex Mines (www.klondexmines.com): Klondex Mines Ltd. is focused on the exploration and development of its 100% owned high-grade Fire Creek gold deposit in North Central Nevada. Fire Creek is a compelling, low-Capex mining prospect that is well located near power, transportation, mining infrastructure and several milling facilities. Klondex plans to initiate an underground exploration and bulk sampling program in Q1 2011, with initial bulk sampling production targeted by year-end 2011. Klondex has identified the following NI 43-101 compliant resource at Fire Creek:
Fire Creek NI 43-101 Compliant Mineral Resource as of March 30, 2009* |
Classification |
Metric Tonnes |
Grams Gold Equivalent Per Metric Tonne |
Total Ounces Gold Equivalent |
Indicated |
5,043,033 |
10.11 |
1,639,822 |
Inferred |
1,833,423 |
8.63 |
508,799 |
*The resource is approx. 98.3% gold and 1.7% silver and reflects a cutoff grade of 5 grams per tonne and 60 units of silver equivalent to one unit of gold. | ON BEHALF OF KLONDEX MINES LTD. William J. Solloway Chairman and CEO
Blane Wilson President and COO
Investor Contacts: Bryson Goodwin Klondex Mines Ltd. brysongoodwin@shaw.ca (604) 341-1531
David Collins Jaffoni & Collins KDX@jcir.com (212) 835-8500
View News Release in PDF Format:
- Associated File: http://www.klondexmines..com/i/pdf/NR-2-24-11.pdf
- 471 KB in size, approx. 1 minute, 29 seconds to download at 56.6Kbps
You can also view this News Release on our website at: http://www.klondexmines.com/s/News.asp?ReportID=444291 |
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