TORONTO, March 14, 2013 /CNW/ - Temex Resources Corp. (TSXV: TME), (FWB: TQ1)
("Temex" or the "Company") is pleased to announce the appointment of Mr. René
Marion to the Board of Directors of Temex effective immediately. Mr. Marion
brings to Temex an extensive and successful track record of corporate
development, mining operations, and mine development and he will work directly
with the management team by chairing a new Strategic/Technical Advisory
Committee that will report to the Board of Directors.
"I am excited at the opportunity to work with René as we share a similar
vision for Temex's growth and development. His appointment is a strong
catalyst as we transform Temex into a progressive junior explorer capable of
taking projects from early or advanced stage through to production within an
aggressive time frame," commented Ian Campbell, President and CEO of Temex.
"On behalf of the Board and Management, I welcome René to our team."
Mr. Marion brings to Temex over 25 years of operations, mineral exploration
and mine development experience and a successful history of corporate
development. He was most recently President, CEO and Director of AuRico Gold
Inc. ("AuRico") where he built AuRico into one of the "Top 40 Mining
Companies" (Canadian Mining Journal, August 2012) by executing several
transformational transactions which included the acquisition and development
of AuRico's flagship Young-Davidson Mine, located 45 kilometres northeast of
the Company's Juby Gold Project.
Prior to joining AuRico, Mr. Marion held several senior positions with Barrick
Gold Inc. ("Barrick") over 14 years including Vice President of Russia and
Central Asia, Vice-President Technical Services, Vice-President and General
Manager of Kahama Mining. From 2006 to 2007, he was seconded by Barrick to
Highland Gold Mines Ltd. as Chief Operating Officer and a Director based out
Mr. Marion is a senior corporate executive with extensive experience in all
aspects of the mining sector, including corporate governance, executive
leadership, strategic planning, operations, operating management, reserves and
mine engineering. Over his career he has worked on a dozen international
feasibility studies and has been on the team for the construction of nine
mines. Of further importance to Temex, he led the team that successfully
concluded impact and benefits agreements in the Temex project areas.
A graduate of Queens University with a BScE degree in Mining Engineering
obtained in 1986, Mr. Marion is a member in good standing with the
Professional Engineers of Ontario, and the Ontario Society of Professional
Effective with the appointment, Mr. Marion has been granted options to
purchase 750,000 common shares of the Company, with each such option
exercisable at a price of $0.20 per share for a period of 5 years.
The Company also announces that it has granted to an officer of the Company
options to purchase 200,000 common shares of the Company, with each such
option exercisable at a price of $0.20 per share for a period of 5 years.
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio of
precious metals properties in the world class mining district of northeastern
Ontario. Temex (60% interest) is advancing the Timmins Whitney Gold Project,
in partnership with Goldcorp (40% joint venture interest; no back-in rights),
and exploring the Juby Gold Project (100% Temex).
The Whitney Property has open pit and underground NI 43-101 compliant
resources on the Upper Hallnor of 3.0 million tonnes at a grade of 2.44 g/t
gold for 234,300 ounces of gold in the Measured category plus 8.8 million
tonnes at a grade of 1.97 g/t gold for 555,900 ounces of gold in the Indicated
category and 4.1 million tonnes at a grade of 1.82 g/t gold for 241,000 ounces
of gold in the Inferred category at a cut-off grade of 0.30 g/t gold for open
pit and 2.0 g/t for underground (Note 1).
The Juby Main Zone has NI 43-101 compliant resources of 22.3 million tonnes at
a grade of 1.30 g/t gold for 934,645 ounces of gold in the Indicated category
and 28.2 million tonnes at a grade of 1.00 g/t gold for 905,621 ounces of gold
in the Inferred category, both at a cut-off grade of 0.40 g/t gold (Note 2).
1. Information regarding the mineral resource estimate on the Upper
Hallnor is in the Company's news release dated September 5, 2012
and the technical report filed on SEDAR October 19, 2012. The
Mineral Resource Statement was prepared for Temex by P&E Mining
Consultants Inc. of Brampton, Ontario in accordance with NI 43-101
by Richard Sutcliffe, PhD, P.Geo., Eugene Puritch, P.Eng., David
Burga, P.Geo., Yungang Wu, P.Geo., Tracy Armstrong, P.Geo., and
Antoine Yassa, P.Geo., "independent qualified persons" as defined
by NI 43-101.
2. Information regarding the mineral resource estimate on the Juby
Main Zone is in the Company's news release dated January 16, 2012
and the technical report filed on SEDAR February 28, 2012. The
Mineral Resource Statement was prepared for Temex by GeoVector
Management Inc., Ottawa, Ontario in accordance with NI 43-101 by
Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geol., and Allan
Armitage, PhD, P.Geol., "independent qualified persons" as defined
by NI 43-101.
This news release contains forward-looking information which is not comprised
of historical facts. Forward-looking information involves risks, uncertainties
and other factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward-looking information in
this news release includes, but is not limited to, mineral resource estimates,
and the potential transformation of the Company and the development of its
projects as well as the timing related thereto. Factors that could cause
actual results to differ materially from such forward-looking information
include, but are not limited to, general business and economic uncertainties,
future mineral prices, uncertainties in mineral resource estimates and adverse
market conditions, as well as those risks set out in the Company's public
documents filed on SEDAR. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time
frames or at all. The Company disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
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.
please visitwww.temexcorp.com or email:firstname.lastname@example.org or phone:
416-862-2246 toll free: 866-373-6287
SOURCE: Temex Resources Corp.
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