Orca Gold Announces Board Appointments and Lead Director
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 8, 2017) - Orca Gold Inc. (TSX VENTURE:ORG) ("Orca" or the "Company") is pleased to announce the appointment of David Field, and Derek White to the Board of Directors of the Company.
David Field, BEc (H) / BSc ANU Australia, has had 25 years' participation in the capital markets and a wealth of experience in evaluating, investing and financing mining projects globally. Mr. Field spent 10 years at Australia's largest retail fund manager, Bankers Trust Financial Group, as head of their Global Basic Materials Group before joining Carmignac Gestion, the largest boutique fund manager in continental Europe. While at Carmignac Gestion, Mr. Field ran a US$ 2 billion mining fund and invested more than US$ 10 billion of the firm's funds under management in the commodities sector globally before his departure in late 2014.
Derek White has over 30 years of experience in the mining and metals industry. He holds an undergraduate degree in Geological Engineering from the University of British Columbia and is also a Chartered Accountant. Mr. White is currently the Principal of Traxys Capital Partners LLP, a private equity firm specializing in the mining and minerals sectors. Prior to joining Traxys, Mr. White was President and CEO of KGHM International Ltd. from 2012 to 2015. He also held the positions of Executive Vice President, Business Development and Chief Financial Officer of Quadra FNX Mining Ltd. from 2004 to 2012. Mr. White has held executive positions with International Vision Direct Ltd., BHP-Billiton Plc, Billiton International Metals BV and Impala Platinum Ltd., in Vancouver, Toronto, London, The Hague, and Johannesburg. Mr. White is also an ICSA Accredited Director.
Lead Director
The Company is also pleased to announce the appointment of Alexander Davidson as Lead Director of the Board of Directors of the Company. Mr. Davidson has been a director of the Company since April 2013. He has over 40 years of experience in designing, implementing and managing gold and base metal exploration and acquisition programs throughout the world. Mr. Davidson's extensive experience in the mining industry and his background in precious metal exploration and corporate development allow him to provide valuable industry insight and perspective to the Board and management. Mr. Davidson also has extensive board level experience and has sat on and has chaired a number of committees, including Health Safety and Environment, Technical, Sustainability, Audit, and Compensation. He received his B.Sc. and his M.Sc. in Economic Geology from McGill University.
Options Grant
The Company also announces that it has granted 625,000 incentive stock options to certain directors and to an employee of the Company. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $0.36 per share.
Other
The Company also announces that Rashida McLean has returned from her temporary leave and has resumed the role of Corporate Secretary, a role that was taken on in the interim by Jeff Yip, the Company's Chief Financial Officer during Ms. McLean's absence.
On the appointment of the new directors, the Chairman of the Board of Directors, L. Simon Jackson, commented, "We are pleased to welcome Mr. Field and Mr. White to our Board. David and Derek bring with them excellent experience that complements the skills of our current Board members. David and Derek's financing and operations background provide depth to the Board in assessing and implementing the next stages of development in the growth of our Company."
About Orca Gold Inc.
Orca Gold Inc. (TSX VENTURE:ORG) is a Canadian public company engaged in the acquisition and exploration of mineral properties in North and West Africa. Orca's principal asset is the Block 14 gold project, located in northern Sudan (near the border with Egypt). A PEA was completed on the Block 14 project in 2016 and an updated resource estimate was announced in February 2017.
Orca Gold recently announced a deal with Kinross whereby Orca will acquire all of Kinross' property rights and interests in the West African country of Côte d'Ivoire. Upon closing of this transaction Kinross will own an 8.6 % interest in Orca. Orca intends to immediately commence exploration on this very prospective property package.
The Company is listed on the TSX Venture Exchange under the symbol "ORG".
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws, including statements regarding Orca's (the "Company", the "Corporation", "we" or "our") plans and expectations relating to the Block 14 project ("Block 14") in northern Sudan and the Pre-Feasibility Study ("PFS") currently being conducted by the Corporation. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Statements concerning mineral resource estimates may also be deemed to constitute "forward-looking statements" to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. The assumptions, risk and uncertainties outlined below are non-exhaustive. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Corporation, or industry results, may vary materially from those described in this presentation.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "expects", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential", "possible" or variations thereof or stating that certain actions, events, conditions or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements and forward-looking information are not guarantees of future performance and are based upon a number of estimates and assumptions of management at the date the statements are made including without limitation, assumptions about the following (the "Forward-Looking Factors"): future prices of gold and other metals; successful exploration, development, and production of Block 14; the timing and completion of the PFS; performance of contractual obligations by counterparties; operating conditions; political stability; obtaining governmental approvals and financing on time; financial projections and budgets; obtaining licenses and permits; government regulation of the Corporation's mining activities; environmental risks and expenses; market conditions; the securities market; price volatility of the Corporation's securities; currency exchange rates; foreign mining tax regimes; insurance and uninsured risks; financial projections and results; competition; availability of sufficient capital, infrastructure, equipment and labour; dependence on key personnel; dependence on outside parties; conflicts of interest; litigation; land title issues; local community issues; estimation of mineral resources; realization of mineral resources; timing and amount of estimated future production; the life of Block 14; reclamation obligations; changes in project parameters as plans continue to be evaluated; and anticipated costs and expenditures and our ability to achieve the Corporation's goals. While we consider these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies, many of which are based on factors and events that are not within the control of the Corporation and there is no assurance they will prove to be correct.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation known and unknown risks, uncertainties and other factors relating to the Forward-Looking Factors above, and those factors disclosed under the heading "Risk Factors" in the Corporation's documents filed from time to time with the securities regulators in the provinces of Canada.
In addition, a number of other factors could cause the actual results, performance or achievements of the Corporation to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, and there is no assurance that the actual results, performance or achievements of the Corporation will be consistent with them. For further details, reference is made to the risk factors discussed or referred to in the Corporation's annual and interim management's discussion and analyses on file with the Canadian securities regulatory authorities and available electronically on the SEDAR website at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events, results, performance or achievements to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause actions, events, results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements and information are made or given as at the date of this presentation and the Corporation 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 as required under applicable securities law. The reader is cautioned not to place undue reliance on forward-looking statements or forward-looking information.
Neither the 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.
Contact
Elina Chow
Investor Relations
416.645.0935 x 226