Thunder Bay, Ontario–(Newsfile Corp. – February 8, 2018) – White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that the Company has completed their annual meeting with all motions passed and also the appointment of Jean-Pierre “JP” Colin to the Board of Directors.
Mr. Colin is a corporate strategy consultant to high-growth publicly-listed mining companies. He has been a recognized senior securities industry executive and effective investment banking professional providing financing and mergers and acquisitions services to numerous prosperous mining issuers in Canada. As a result of his extensive financial background throughout his career, he has been called to lead teams of corporate finance professionals at national securities dealers, such as Richardson Greenshields (now RBC Capital), JP Colin Securities, Deacon Capital (formerly acquired by Dundee Capital), Octagon Capital and Desjardins Securities.
Mr. Colin is also a director of dynaCERT Inc., a company listed on the TSX Venture Exchange trading under the symbol DYA. Mr. Colin has also served as a high-profile corporate board director and C-suite executive of numerous public mining companies, often chairing audit committees, compensation committees and corporate governance committees, including with Premier Gold Mines; Wolfden Resources (sold to Zinifex for over $350 million); Virginia Gold (whose Eleonore property was sold to Goldcorp for over $ 1 billion); and, Pelangio Mines, the former controlling shareholder of Detour Gold, one of Eastern Canada’s largest gold mining operations.
Mr. Colin holds a DCS from McGill University where he studied Biology & Engineering, an MBA from the University of Western Ontario, a Law Degree from the University of Ottawa a Certificate in Comparative Law from the University of Manitoba and also practiced corporate law prior to his investment-banking profession.
Jean-Pierre Colin states, “I am very pleased to join White Metal as an independent director and commence working closely with my fellow board members and White Metal management and employees, especially for the benefit of our numerous shareholders and stakeholders. Mick Stares, our CEO, has accomplished many very enviable milestones for White Metal while assembling a remarkable team of experts and he has my full commitment in moving our company to a very successful future.”
Mick Stares, CEO of White Metal states, “We are privileged to welcome Jean-Pierre Colin to our Board. Mr. Colin brings deep expertise and a proven track record in investment banking and corporate governance and he is well-known throughout the mining community for his ethical business acumen. We are capitalizing on our mining claims in Newfoundland and Ontario, and Mr. Colin brings to us the corporate governance expertise and required wisdom to further our properties to the possible next stages of achievement and exploration success.”
The Company would also like to announce it has issued 175,000 stock options exercisable at 0.10 cents per share and expiring in 5 years to a director of the Company.
About White Metal Resources Corp. (TSXV: WHM): White Metal’s Flag ship Property is the Gunners Cove Property (the “Property”), located 20 km north of St. Anthony on the Northern Peninsula, Newfoundland. The Property is easily accessible by means of local roads and trails, and consists of 682 claim units (59,402 ha or 594 sq-km). The Company is currently undertaking an airborne time-domain electromagnetic-magnetic survey over the Property. To date, 133 surface grab samples have been collected from the 10 mineralized zones at the Property. The distribution of the samples containing anomalous gold values define an area roughly 5 km x 3 km. Approximately 50% of the grab samples collected in the Gunners Cove area assayed 100 ppb Au (0.1 g/t Au) or greater, with a maximum of 5.9 g/t Au (Mossberg Zone). Silver assay results are also elevated, ranging from less than 1 ppm Ag to a maximum of 9.1 g/t Ag (Cooey Zone) [note: grab samples are selective by nature and are unlikely to be representative of average grades]. Work to date at the Gunners Cove Property has highlighted a large area of anomalous gold values and extended the discovery area substantially. Historically, this Property has seen very little exploration work and is a recent prospecting discovery, adding to its importance. Precious metal and base metal mineralization is associated with, and appears to be largely hosted by, pyritic nodules and stringers accompanied by minor silicification and local brecciation, and hosted by an extensive black shale unit.
White Metal Resources Corp is a junior exploration company exploring in Canada and currently has 39,855,240 common shares issued and outstanding.
On behalf of the Board of Directors of White Metal Resources Corp.
Michael Stares, President and CEO
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The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company‘s expectations or projection
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200