Orestone Announces Changes to the Board of Directors and Stock Option Grant and Cancellation
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2018) - Orestone Mining Corp. (TSXV: ORS) ("Orestone" or the "Company") is pleased to announce the appointment of Ms. Julia Aspillaga and Mr. Patrick Daniels to the Company's Board of Directors. Combined Julia and Patrick have over six decades of mineral industry experience and have collaborated on several projects over the years.
Mr. Gary Nordin, Orestone Director states, "I worked with Julia and Patrick during the early years of Bema Gold. Julia was Bema's Country Manager in Chile and instrumental bringing the Refugio and Cerro Casale gold copper porphyry deposits to the group in 1988-90. Shortly thereafter, Patrick, Chief Engineer at Bema's Champagne Mine in the USA, was transferred to Chile as the Senior Project Engineer to work on the feasibility of the Refugio Project. With their long and successful history in the industry, I am confident that they will materially assist Orestone in the acquisition and development of substantial projects in Chile and elsewhere."
Ms. Julia Aspillaga has more than 30 years of minerals industry experience in Chile and other Latin American countries. As a company founder, company builder, as an officer and as a director in both public and private companies; her various roles have included strategic planning, finance, management and administration. She holds two degrees from the Pontifical Catholic University of Chile, one in Business Administration and the other in Education.
In the 1980's Julia was a partner of and participated in the discovery, development and subsequent sale to Glamis Gold of the San Cristóbal Gold Deposit in Region II Chile. In the 1990's she was manager of Bema Gold in Chile and played a key role in the development of the 5.4 million-ounce Refugio Gold Deposit, currently owned by Kinross Gold (source: Kinross Gold 2006 Mineral Reserve and Resource Statement).
Additionally, Julia brought the Cerro Casale project to the Bema Group where a mineral reserve and resource in excess of 23 million ounces of gold, 5.8 billion pounds of copper and 58 million ounces of silver have been drilled off. Barrick Gold and Goldcorp are now 50/50 partners on the project (source: Goldcorp News release June 9, 2017).
Julia has been a manager or an advisor to management for various international companies including Mineral Resource Development (Great Britain), Yorkton Securities (Canada), Endeavour Financial (Canada), and Global Hunter Corp. (Canada). She currently participates in the IMT Exploraciones Chile Fund as a Member of the Advisory Team.
Patrick Daniels is a senior mining engineer with 30 years of multinational experience working with resource and mining companies to find, responsibly develop, build, and operate profitable mines.
Patrick has worked in multiple commodities spanning 13 countries and over 50 projects including Amax Gold's Sleeper Gold Mine, Freeport's Jerritt Canyon Gold Mine and the start-up of Bema Gold's Champagne Mine. At Caterpillar's Global Mining Consulting Group, Patrick helped lead mine operational assessments and production studies throughout the Americas and Africa. As Engineering Manager for Gustavson Associates, he authored and managed a variety of project technical studies and as an independent engineer, he evaluated major gold and copper capital projects in Canada, the USA, Chile, and Peru for financial institutions and investors. Most recently, Patrick founded Danyers & Company, a mineral development consultancy working in project sourcing, acquisition, due diligence and project management.
Patrick holds a BS in Mining Engineering from the Colorado School of Mines, has a Black Belt designation in Lean Six Sigma, and is a qualified person under NI 43-101 regulations.
David Hottman, Chairman, President & CEO states, "We are very pleased that Julia and Patrick have joined the Board of Directors, it will be a pleasure to work together again. Combined they bring to Orestone a wealth of technical, entrepreneurial and mining industry experience within the America's, experience with all stakeholders - social, environmental, financial and economic as well as global relationships. Their unwavering enthusiasm coupled with a strong drive to succeed will be invaluable".
The Company would also like to advise that Mr. Doug Willock and Mr. Andrew Muir have resigned as Directors. The Board would like to thank them for the contributions they have made to the Company and wish them success in their future endeavors.
In conjunction with the above appointments the Company has, subject to regulatory approval, granted the new directors incentive stock options to purchase an aggregate of 400,000 common shares. The options are exercisable until April 29, 2023 at an exercise price of $0.15 per share.
The Company also announces that it has cancelled incentive stock options to purchase an aggregate of 395,000 common shares allocated to Mr. David Hottman and Mr. Gary Nordin.
Orestone Mining Corp. is a Canadian-based company that controls a portfolio of gold-copper porphyry exploration targets in British Columbia, Canada. The Company is currently reviewing opportunities in Chile and anticipates that a transaction will be secured in the near future. For more information please visit: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
"David Hottman"
President and CEO
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 news release.
For further information contact:
David Hottman
604-629-1929
info@orestone.ca