Silvercrest Announces Appointment of New Director, Reconfirmation of Shareholder Rights Plan and Grant of Stock Options
June 17 2011 - 2:24PM
Marketwired
SilverCrest Mines Inc. (the "Company") (TSX VENTURE: SVL) is
pleased to announce that at the Company's Annual General Meeting of
shareholders held on June 15, 2011, the shareholders of the Company
re-elected J. Scott Drever, Barney Magnusson, George Sanders and
Graham Thody to the Board of Directors, and elected Ross Glanville
as a new member of the Board.
Mr. Glanville has over forty years of resource-related
experience in numerous countries, and has been involved in the
exploration, financing, development, and operation of a number of
mines. Mr. Glanville has specialized in valuations, fairness
opinions, and litigation support, often as expert witness, related
to the mining and exploration industry. He has prepared hundreds of
valuations and fairness opinions for mining and exploration
companies in North America, Africa, Australia, South America, Asia,
and Europe. Mr. Glanville has formed public companies, listed on
the Toronto Stock Exchange, the Australian Stock Exchange, NASDAQ,
and the TSX Venture Exchange, and has served on the Boards of
Directors of four companies with producing mines.
Mr. Glanville graduated from the University of British Columbia
in 1970 with a Bachelor of Applied Science Degree (Mining
Engineering) and became a member of the Association of Professional
Engineers of British Columbia in 1972 (P.Eng.). In 1974, Glanville
obtained a Master of Business Administration Degree (MBA),
specializing in finance and securities analysis; and in 1980 he
became a member of the Certified General Accountants of B.C. (CGA).
He is currently a director of Archon Minerals Limited and Clifton
Star Resources Inc. (both TSX-V listed companies), as well as
Starfield Resources Inc. (a TSX listed company).
J. Scott Drever, President stated; "It is truly a significant
event for SilverCrest to have someone with the experience and
credentials of Ross Glanville join our Board of Directors. With the
commissioning of our new Santa Elena Mine in Mexico the Company has
entered a new and exciting phase of its development. We expect that
Ross will make serious contributions to our current plans for
expansion and the development of our next mine."
At the annual general meeting, the shareholders of the Company
also reconfirmed the Company's shareholder rights plan (the "Rights
Plan"), which was first approved by the shareholders in 2008. The
Rights Plan is subject to further reconfirmation by the Company's
shareholders in 2014, and at every third annual general meeting
thereafter.
The Company also announces the grant of a Director's incentive
stock option to Mr. Glanville for the purchase of up to 200,000
common shares of the Company at an exercise price of $1.17 per
share for a term of five years.
SilverCrest Mines Inc. (TSX VENTURE: SVL) is a Mexican precious
metals producer with headquarters based in Vancouver, BC.
SilverCrest's flagship property is the 100%-owned Santa Elena Mine,
which is located 150 km northeast of Hermosillo, near Banamichi in
the State of Sonora, Mexico. The mine is a high-grade, epithermal
gold and silver producer, with an estimated life of mine cash cost
of US$8 per ounce of silver equivalent. SilverCrest anticipates
that the current 2,500 tonnes per day facility will produce
approximately 800,000 ounces of silver and 30,000 ounces of gold
per full production year from the initial open-pit heap leach
operation.
This news release contains forward-looking statements, which
address future events and conditions, which are subject to various
risks and uncertainties. The Company's actual results, programs and
financial position could differ materially from those anticipated
in such forward-looking statements as a result of numerous factors,
some of which may be beyond the Company's control. These factors
include: the availability of funds; the timing and content of work
programs; results of exploration activities and development of
mineral properties, the interpretation of drilling results and
other geological data, the uncertainties of resource and reserve
estimations, receipt and security of mineral property titles;
project cost overruns or unanticipated costs and expenses,
fluctuations in metal prices; currency fluctuations; and general
market and industry conditions. Forward-looking statements are
based on the expectations and opinions of the Company's management
on the date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking
statements.
J. Scott Drever, President
SILVERCREST MINES INC.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Contacts: SilverCrest Mines Inc. Fred Cooper Investor Relations
(604) 694-1730 ext. 108 or Toll Free: 1-866-691-173 (604) 694-1761
(FAX) info@silvercrestmines.com www.silvercrestmines.com
SilverCrest Mines (TSXV:SVL)
Historical Stock Chart
From Feb 2025 to Mar 2025
SilverCrest Mines (TSXV:SVL)
Historical Stock Chart
From Mar 2024 to Mar 2025