TORONTO, March 14, 2013 /CNW/ - Temex Resources Corp. (TSXV: TME), (FWB: TQ1) ("Temex" or the "Company") is pleased to announce the appointment of Mr. René Marion to the Board of Directors of Temex effective immediately. Mr. Marion brings to Temex an extensive and successful track record of corporate development, mining operations, and mine development and he will work directly with the management team by chairing a new Strategic/Technical Advisory Committee that will report to the Board of Directors.
"I am excited at the opportunity to work with René as we share a similar vision for Temex's growth and development. His appointment is a strong catalyst as we transform Temex into a progressive junior explorer capable of taking projects from early or advanced stage through to production within an aggressive time frame," commented Ian Campbell, President and CEO of Temex. "On behalf of the Board and Management, I welcome René to our team."
Mr. Marion brings to Temex over 25 years of operations, mineral exploration and mine development experience and a successful history of corporate development. He was most recently President, CEO and Director of AuRico Gold Inc. ("AuRico") where he built AuRico into one of the "Top 40 Mining Companies" (Canadian Mining Journal, August 2012) by executing several transformational transactions which included the acquisition and development of AuRico's flagship Young-Davidson Mine, located 45 kilometres northeast of the Company's Juby Gold Project.
Prior to joining AuRico, Mr. Marion held several senior positions with Barrick Gold Inc. ("Barrick") over 14 years including Vice President of Russia and Central Asia, Vice-President Technical Services, Vice-President and General Manager of Kahama Mining. From 2006 to 2007, he was seconded by Barrick to Highland Gold Mines Ltd. as Chief Operating Officer and a Director based out of Moscow.
Mr. Marion is a senior corporate executive with extensive experience in all aspects of the mining sector, including corporate governance, executive leadership, strategic planning, operations, operating management, reserves and mine engineering. Over his career he has worked on a dozen international feasibility studies and has been on the team for the construction of nine mines. Of further importance to Temex, he led the team that successfully concluded impact and benefits agreements in the Temex project areas.
A graduate of Queens University with a BScE degree in Mining Engineering obtained in 1986, Mr. Marion is a member in good standing with the Professional Engineers of Ontario, and the Ontario Society of Professional Engineers.
Effective with the appointment, Mr. Marion has been granted options to purchase 750,000 common shares of the Company, with each such option exercisable at a price of $0.20 per share for a period of 5 years.
The Company also announces that it has granted to an officer of the Company options to purchase 200,000 common shares of the Company, with each such option exercisable at a price of $0.20 per share for a period of 5 years.
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in the world class mining district of northeastern Ontario. Temex (60% interest) is advancing the Timmins Whitney Gold Project, in partnership with Goldcorp (40% joint venture interest; no back-in rights), and exploring the Juby Gold Project (100% Temex).
The Whitney Property has open pit and underground NI 43-101 compliant resources on the Upper Hallnor of 3.0 million tonnes at a grade of 2.44 g/t gold for 234,300 ounces of gold in the Measured category plus 8.8 million tonnes at a grade of 1.97 g/t gold for 555,900 ounces of gold in the Indicated category and 4.1 million tonnes at a grade of 1.82 g/t gold for 241,000 ounces of gold in the Inferred category at a cut-off grade of 0.30 g/t gold for open pit and 2.0 g/t for underground (Note 1).
The Juby Main Zone has NI 43-101 compliant resources of 22.3 million tonnes at a grade of 1.30 g/t gold for 934,645 ounces of gold in the Indicated category and 28.2 million tonnes at a grade of 1.00 g/t gold for 905,621 ounces of gold in the Inferred category, both at a cut-off grade of 0.40 g/t gold (Note 2).
Notes:
- Information regarding the mineral resource estimate on the Upper Hallnor is in the Company's news release dated September 5, 2012 and the technical report filed on SEDAR October 19, 2012. The Mineral Resource Statement was prepared for Temex by P&E Mining Consultants Inc. of Brampton, Ontario in accordance with NI 43-101 by Richard Sutcliffe, PhD, P.Geo., Eugene Puritch, P.Eng., David Burga, P.Geo., Yungang Wu, P.Geo., Tracy Armstrong, P.Geo., and Antoine Yassa, P.Geo., "independent qualified persons" as defined by NI 43-101.
- Information regarding the mineral resource estimate on the Juby Main Zone is in the Company's news release dated January 16, 2012 and the technical report filed on SEDAR February 28, 2012. The Mineral Resource Statement was prepared for Temex by GeoVector Management Inc., Ottawa, Ontario in accordance with NI 43-101 by Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and Allan Armitage, PhD, P.Geol., "independent qualified persons" as defined by NI 43-101.
Forward-Looking Information:
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, mineral resource estimates, and the potential transformation of the Company and the development of its projects as well as the timing related thereto. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, general business and economic uncertainties, future mineral prices, uncertainties in mineral resource estimates and adverse market conditions, as well as those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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SOURCE: Temex Resources Corp.
For further information:
please visit www.temexcorp.com or email: info@temexcorp.com or phone: 416-862-2246 toll free: 866-373-6287
