Midas Gold Increases Board Size to Eight & Appoints an Additional Director
Senior Barrick Executive, Mark Hill, Appointed to the Board of Directors
VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) -- Midas Gold Corp. (TSX:MAX) (OTCQX:MDRPF) (“Midas Gold” or the “Company”) today announced that it has increased the size of its board of directors from seven to eight and appointed Mark Hill, Chief Investment Officer with Barrick Gold Corp. (NYSE:ABX) (TSX:ABX) (“Barrick”) to fill the additional position. The increase in board size and the appointment of a Barrick nominee to the board of directors is in accordance with the terms of the investor rights agreement entered into with Barrick in conjunction with the strategic investment by Barrick in Midas Gold that was completed on May 16, 2018.
“We welcome Mr. Hill to the board of directors of Midas Gold and look forward to his input and guidance,” said Peter Nixon, Chairman of Midas Gold’s Board of Directors. “Mr. Hill has extensive technical, investment and senior management experience at senior levels in the mining industry, which experience will be beneficial as we continue to advance our Stibnite Gold Project towards completion of a feasibility study and permitting for restoration and redevelopment.”
Additional Details
Mark Hill was appointed Chief Investment Officer for Barrick in September 2016, this is a new position that ensures a high degree of consistency and rigor is applied to all capital allocation decisions at Barrick. Mr. Hill chairs Barrick's Investment Committee, bringing added technical experience to the investment review process. He is also a member of the Company's Executive Committee, as well as Barrick’s Growth Group, and oversees an Evaluations team that independently scrutinizes proposed expenditures before they go to the Investment Committee. Mr. Hill has more than 25 years of experience in the mining industry. He re-joined Barrick after four years at Waterton Global Resource Management, where he was a partner and Head of Mining. Mr. Hill's prior positions at Barrick included Vice President, Evaluations, and Vice President, Capital Projects. He has also held senior positions with BHP Billiton, AngloGold Ashanti, Placer Dome, and WMC Ltd. Mr. Hill holds a Bachelor's degree in Mining Engineering, and a Graduate Diploma in Mineral Economics.
For further information about Midas Gold Corp., please contact:
Liz Monger -- Manager, Investor Relations
(t): 778.724.4704
(e): info@midasgoldcorp.com
Facebook: www.facebook.com/midasgoldidaho Twitter: @MidasIdaho
Website: www.midasgoldcorp.com
About Midas Gold and the Stibnite Gold Project
Midas Gold Corp., through its wholly owned subsidiaries, is focused on the exploration and, if warranted, site restoration and development of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by its Stibnite Gold Project. As operator of the Project, Midas Gold’s subsidiary, Midas Gold Idaho, Inc. is a modern mining company that believes that industry and the environment can work together. Commencing in 2009, Midas Gold defined a world-class deposit of gold and antimony in an area in need of serious environmental repair. The Stibnite Gold Project, as proposed in the Plan of Restoration and Operations currently being reviewed by regulators, would restore the site, create economic opportunity and benefit the surrounding communities.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions, courses of action and business objectives. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "advance", "create", "benefit" or variations of such words and phrases or statements that certain actions, events or results “completion”, "would", "occur" or "be achieved". Although Midas Gold has attempted to identify important factors that could affect Midas Gold and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, Midas Gold has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Midas Gold does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.