True North Gems Appoints Vice President of Engineering
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/17/12 -- True North
Gems Inc. (TSX VENTURE:TGX) (the "Company") is pleased to announce
the appointment of Mr. Ronald Hall as Vice President of Engineering.
Mr. Hall brings over 35 years of diverse industry experience to this
new role. As a consultant, Mr. Hall has been advising the Company
since 2011 on ruby and pink sapphire plan flow sheet optimization.
Mr. Hall's immediate new responsibilities include finalizing the
detailed engineering and processing-plant design for the Company's
planned flagship Aappaluttoq Ruby Mine in SW Greenland.
Nicholas Houghton, President and CEO, stated, "The depth of Mr. Halls
engineering, management and development expertise ensure we have the
ultimate person to lead our operating team as we move forward towards
production at the Aappaluttoq Ruby Mine. His appointment is also a
testament to the strength of our organization and demonstrates the
potential growth we have as a Company. We all look forward to working
closely with him to deliver a steady and sustainable source of
Greenlandic Ruby and Pink Sapphire to the coloured stone industry."
Mr. Hall was formerly a Partner and Vice President of Mining at
Wardrop Engineering Inc. During this seven (7) year period he oversaw
a period of large-scale expansion and growth within the company's
Canadian operations, and the successful opening of international
branches in China, Chile, Brazil, Hong Kong and Australia.
Previously, while at SNC Lavalin, Hatch and MinMet Consulting Mr.
Hall was involved with the advanced mine engineering and design
across multiple commodities including copper, cobalt, gold, silver,
PGE's, rare earth elements and diamonds. He spent seven (7) years as
Senior Metallurgist and Operations Superintendent at DeBeers' Orapa
and Jwaneng Diamond mines in Botswana; and was recently appointed as
a non-executive director for Chinalco, a Chinese State Owned mining
company focused on copper developments in Peru.
True North Gems Inc. is listed on the TSX Venture Exchange and is
engaged in the exploration and development of Greenlandic and North
American coloured gemstone prospects. The Company is a pioneer in
colored gemstone exploration and, currently in Greenland, has the
rights to earn 100% interest in the Aappaluttoq ruby and pink
sapphire project, holds a 100% interest in the Tsa da Glisza emerald
property, Yukon, and the Beluga sapphire property located on Baffin
Island, Nunavut. True North's prime focus remains the commercial
advancement of the Aappaluttoq Ruby Project in Greenland.
This document contains "forward-looking information" and
"forward-looking statements" (together, "forward-looking statements")
within the meaning of applicable securities legislation, which are
made as of the date of this document or the document(s) referred to
herein. Statements that express predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"intends", "strategy", "goals", "objectives" or variations thereof or
stating that certain actions, events or results "may", "could",
"would", "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 include, without limitation, statements
with respect to: the amount of mineral reserves and mineral
resources; the amount of future production over any period; net
present value and internal rates of return of the proposed mining
operation; capital costs; operating costs; strip ratios and mining
rates; and mine life. The forward-looking statements are made based
upon certain assumptions which, if untrue, could cause the actual
results, performances or achievements of the Company to be materially
different from future results, performances or achievements expressed
or implied by the forward-looking statements.
These assumptions include, without limitation: the price of gemstone
products produced; anticipated costs; the presence of and continuity
of gemstones at modeled grades and values; the capacities of various
machinery and equipment; the availability of personnel, machinery and
equipment at estimated prices; exchange rates; appropriate discount
rates; tax rates applicable to the proposed mining operation;
financing structure and costs; anticipated mining losses and
dilution; gemstone recovery rates; reasonable contingency
requirements; and receipt of regulatory approvals on acceptable
terms. By their very nature, forward-looking statements involve
inherent risks and uncertainties that could cause actual results,
performances or achievements to differ materially from those in the
forward-looking statements. These include, without limitation: price
volatility, discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical recoveries, mining
operational and development risks, regulatory restrictions (including
environmental regulatory restrictions and liability), activities by
governmental authorities (including changes in taxation), currency
fluctuations, the speculative nature of gemstone exploration, the
global economic climate, dilution, share price volatility,
competition, loss of key employees; additional funding requirements
and defective title to mineral claims or property). This list is not
exhaustive. See also, for example, the risks disclosed in the
Company's other disclosure documents filed at www.sedar.com,
including, without limitation, those disclosed in the Company's
management's discussion & analysis. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements, except as otherwise required by applicable securities
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.
True North Gems Inc.
President and CEO
604-687-8055 or Toll Free: 1-800-399-8055
True North Gems Inc.
604-687-8055 or Toll Free: 1-800-399-8055
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