Angus Gold Announces Management Change
April 07 2021 - 6:30AM
Angus Gold Inc. (TSX-V:GUS) (OTCQB:ANGVF)
(“
Angus” or the “
Company”) has
appointed Steve Burleton as the new interim Chief
Executive Officer of the Company, effective today. Mr.
Burleton replaces Andrey Shamis, the current Chief Executive
Officer who will be stepping down from that role and from the Board
of Directors, effective immediately. The Company thanks Mr. Shamis
for his valuable contributions and wishes him all the best in his
future endeavours.
Steve is an experienced mining executive with
significant experience in capital raising, corporate development
and strategy. Most recently, he was President and Chief Executive
Officer of GT Gold Corp. where he was responsible for bringing
in Newmont Corporation as a strategic investor. Prior to this he
was Vice President of Business Development at Richmont Mines which
was acquired by Alamos Gold Inc. for US$770 million in 2017. He
spent over 18 years in the Canadian investment banking industry,
including positions of Managing Director of Investment Banking at
Wellington West Capital Markets Inc. and at Scotia Capital Inc. Mr.
Burleton is a CFA charterholder, has an MBA from York University
and holds an ICD.D designation from the Rotman School of
Management.
Exploration is currently underway on the Golden
Sky project with both ground geophysical and geochemical programs
in-progress. The surveys cover two of the project’s most advanced
targets, the Dorset Gold zone and the Banded Iron Formation (“BIF”)
gold zone, with both targeting high-grade gold mineralization in
close proximity to the Eagle River Mine Complex of Wesdome Gold
Mines Ltd. The current work is designed to identify gold targets
for the upcoming summer drilling program expected to commence in
June. The Company has contracted a 90-line kilometre
high-resolution 3D induced polarisation (IP) survey and will
prioritize anomalies using the surface geochemical data.
Preliminary results are very encouraging with numerous anomalies
already identified over the 25% of the grid that has been surveyed
to-date.
The Company also announces that it has granted
options to acquire a total of 200,000 common shares of the Company
at the exercise price of $0.80 per share for a period of five
years, subject to vesting requirements.
The Golden Sky Project
The Golden Sky Project is located within the
Mishibishu Lake Greenstone Belt of Northern Ontario, an extension
of the Greenstone Belt and host to the high-grade Eagle River Gold
Mine of Wesdome Gold Mines Ltd (“Wesdome”). The
project is located approximately 50 kilometres west of the
town of Wawa and is situated immediately between the Eagle River
underground mine and the Mishi open pit mine of Wesdome. The
project is host to the near-surface Dorset Gold Zone, which
contains a historic estimated resource (using a 0.50 g/t Au
cut-off) consisting of an indicated resource of 40,000 ounces of
gold (780,000 tonnes grading 1.4 g/t Au), and an inferred resource
of 180,000 ounces of gold (4,760,000 tonnes grading 1.2 g/t
Au). For greater details on the Golden Sky Project please refer to
the NI 43-101 technical report for the Golden Sky Project entitled,
“NI 43-101 Technical Report for the Wawa Proper Ontario, Canada”
dated February 18, 2020 and available on the Company’s SEDAR
profile.
Qualified Person
The scientific and technical content of this
press release has been reviewed and approved by Gabrielle Hosein,
P.Geo, who is a “Qualified Person” as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
(“NI 43-101”).
About Angus Gold:Angus is a
Canadian gold exploration company with a 234-square-kilometres land
package located in north-central Ontario approximately
50 kilometres west of the town of Wawa and lies between
Wesdome Gold Mines’ two producing mines.
On behalf of Angus Gold Inc.,
Patrick Langlois, Director
For further information:Email:
info@angusgold.comCompany Website: www.angusgold.com
TSXV: GUS | OTCQB: ANGVF
Forward-Looking Statements
Neither 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. This News Release includes certain
"forward-looking statements" which are not comprised of historical
facts including statements regarding the use of proceeds.
Forward-looking statements include estimates and statements that
describe the Company’s future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”,
“estimates”, “may”, “could”, “would”, “will”, or “plan”. Since
forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are
based on information currently available to the Company, the
Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information 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, the Company’s objectives, goals or
future plans, statements, exploration results, potential
mineralization, the estimation of mineral resources, exploration
and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could
cause actual results to differ materially from such forward-looking
information include, but are not limited to: the ability to
anticipate and counteract the effects of COVID-19 pandemic on the
business of the Company, including without limitation the effects
of COVID-19 on the capital markets, commodity prices supply chain
disruptions, restrictions on labour and workplace attendance and
local and international travel, failure to receive requisite
approvals in respect of the Transaction, failure to identify
mineral resources, failure to convert estimated mineral resources
to reserves, the inability to complete a feasibility study which
recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project
approvals, political risks, inability to fulfill the duty to
accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and 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.
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