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Laurentian Goldfields Announces Management Changes to Advance the Madsen Gold Project and Issuance of Stock Options
|By Marketwired .
|April 8, 2014 07:00 AM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/08/14 -- Laurentian Goldfields Ltd. ("Laurentian" or the "Company") (TSX VENTURE: LGF) is pleased to announce the appointment of Mr. Darren O'Brien, P.Geo., as Vice President of Exploration. Mr. O'Brien is a registered professional geologist with over 20 years of experience in the mineral exploration industry working for junior and major mining companies. He is currently an Elected Director of the Association for Mineral Exploration British Columbia (AMEBC) and was recently Vice President of Exploration for Terrane Metals Corp., a British Columbia based exploration company recently acquired by Thompson Creek Metals Company Inc.
Previously Mr. O'Brien worked for Placer Dome Inc. as Senior Exploration Geologist in the Strategic Development Group. In this position he conducted exploration in the Red Lake Camp for Placer Dome Inc, within and adjacent to the Campbell Mine, which is now a part of Goldcorp Inc.'s Red Lake Gold Mines Complex. Mr. O'Brien also completed evaluations on advanced stage projects in Central Asia, Alaska, the Caribbean, and Canada. Mr. O'Brien played a key role in the early development of the Donlin Creek Project in Alaska, and has advanced several projects to positive production decisions including Pueblo Viejo (Dominican Republic) and Mt. Milligan (British Columbia).
Mr. Mark J. Pryor, Pr.Sci.Nat, former Vice President of Exploration of Laurentian, has moved to the role of Chief Exploration Geologist of the Company. In this role Mr. Pryor's wealth of experience will continue to provide Laurentian with strong technical oversight as the Company advances its growth goals for the Madsen Gold Project.
Laurentian is also pleased to announce the appointment of Mr. Mischa Zajtmann as the new Corporate Secretary of the Company, effective immediately.
Mr. Zajtmann is the General Counsel at Oxygen Capital Corp. and is a corporate and securities lawyer with experience in advising and assisting public companies. Mr. Zajtmann obtained his LLB from the University of Saskatchewan in 2008 and is called to the bar in both B.C. and Alberta. Mr. Zajtmann was previously an associate in the securities and corporate finance group of the Vancouver office of Blake, Cassels & Graydon, LLP.
Issuance of Stock Options
Laurentian has granted incentive stock options to its directors, employees and consultants exercisable to purchase up to 4,380,000 common shares in the capital of the Company until April 8, 2019 at an exercise price of $0.35 per share, being the closing price of the Company's shares as traded on the TSX Venture Exchange on April 7, 2014. The incentive stock options were granted in accordance with Laurentian's Stock Option Plan and, other than those options granted to directors, are subject to vesting provisions.
About Laurentian Goldfields Ltd.
Laurentian is led by a management team and board that comprise established mining professionals with extensive knowledge of Red Lake, and proven technical and capital markets expertise. The management and board are committed to generating exceptional shareholder growth through the exploration and development of the high-grade gold Madsen Gold Project in the prolific Red Lake gold camp of Northwestern Ontario. Laurentian intends to become a leading exploration company by unlocking the value in numerous advanced-stage exploration targets and previous gold producers along the 12 kilometre Madsen Mine Trend.
ON BEHALF OF THE BOARD OF DIRECTORS,
Darin Labrenz, P.Geo., President and CEO
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.
Cautionary Statement on Forward-Looking Information
This press release contains certain forward-looking statements, such statements include, without limitation, Laurentian's plans and objectives to acquire the Newman-Madsen Gold Property. All statements, other than statements of historical facts, are forward-looking statements. The words "believe", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to, fluctuations in the price of gold and other commodities, changes in government legislation, taxation, controls, regulations and political or economic developments in Canada, risks associated with mining or development activities, the speculative nature of exploration and development, including the risk of obtaining necessary licenses and permits and the inability of Laurentian to complete the acquisition of the Newman-Madsen Gold Property. Many of these uncertainties and contingencies can affect the Company's actual performance and could cause actual performance to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those acknowledged in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
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