RENO, Nev.--(BUSINESS WIRE)--
Silver Predator Corp. (SPD.V) (the “Company) is pleased to announce the appointment of Mr. Clifford D. Nelson Jr. as Chief Executive Officer & Director of Silver Predator Corp. Mr. Nelson brings a wealth of experience in the industry having operated a variety of projects ranging in size from the 150 tpd Nixon Fork, Alaska operation to the 40,000 tpd Robinson, Nevada operation. Mr. Nelson’s appointment follows the resignation of Mr. Nathan A. Tewalt who has stepped down in order to pursue personal business interests. Mr. Tewalt will remain a valued technical advisor and will continue to serve on the Board of Directors.
“Cliff is the premier choice to lead the company with its focus now clearly on the Springer tungsten asset. His knowledge of the Springer project combined with his accomplishment in advancing nine mines to production will serve us well,” said William M. Sheriff, Chairman. “At the same time I extend my sincere thanks to Nate both personally and on behalf of the Board for his successful management of the Company since its merger with Nevgold Resource Corp. His work to expand the knowledge base surrounding the Taylor project has created enhanced opportunity for the project, and I am appreciative his advice will continue to be available to the Company at both the Board and technical level.”
Mr. Clifford D. Nelson Jr.
Mr. Nelson has served as President of Springer Mining Company (a 100%-owned subsidiary of Silver Predator) since 2013. He previously served as Vice President Operations at Comstock Mining, Inc., from 2011 to 2013, where he designed, built and commissioned their crusher, heap leach and Merrill Crowe plant. Mr. Nelson has also served as Chief Operating Officer and Executive Vice President of Operations at Golden Predator Corp. from 2009 to 2011. From 2007 to 2009 he was the General Manager of the Springer Mining Company. He has worked with Inspiration Resources (division of Anglo American plc), BHP, Magma Copper Company, West Gold’s Nome Offshore Placer Project and St. Andrew Goldfields. Mr. Nelson received his B.Sc. in Metallurgical Engineering and Materials Science from Michigan Technological University.
About Silver Predator Corp.
Silver Predator’s corporate mandate is to advance its Springer Tungsten Mine and Mill Complex in Nevada to production through a joint venture arrangement. A PEA completed on current resources of 355,000 Indicated tons at an average grade of 0.537% containing 190,635 STU's of WO3 and 1,933,600 Inferred tons at an average grade of 0.493% containing 952,326 STU's of WO3 indicates an IRR of 47% after tax with an estimated capex of 29.8 million dollars(1). The Springer facility was originally constructed and operated by General Electric Corp. in the late 1970’s and early 1980’s when the project was put on care and maintenance due to low tungsten prices. The mill was modernized by Golden Predator Corp. in 2007-2008. The facility could be production capable within 12 months of a capital commitment. Approximately $100 million dollars has cumulatively been invested by all companies in the construction and modernization of the mine and mill.
The Company also holds the Taylor silver-gold project in Nevada. The Taylor project hosts a current resource estimate(2), is open to expansion, and is located in a district that has identified the potential for discovery of additional silver and gold deposits.
Mr. Mike Maslowski, CPG, a Qualified Person as defined by National Instrument 43-101 and a consultant for the Company, has reviewed, verified and approved disclosure of the technical information contained in this news release.
For additional information:
William M. Sheriff, Chairman
(208) 635 5415
info@silverpredator.com
www.silverpredator.com
References:
1) National Instrument 43-101 Technical Report; Preliminary Economic Assessment of the Springer Tungsten Mine Pershing County, Nevada, by Associated Geosciences Ltd. dated December 31, 2013 (and effective August 20, 2012) filed on SEDAR. The preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized;
2) NI 43-101 Technical Report; NI 43-101 of the Taylor Silver Project, White Pine County, Nevada, USA by Thomas H. Chadwick, Dean D. Turner, and Patrick J. Hollenbeck dated March 18, 2013 filed on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Silver Predators’ plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Silver Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.