TORONTO, ONTARIO – Jan. 19, 2017 – Darnley Bay Resources Limited (TSX VENTURE:DBL) (“Darnley Bay” or the “Company“) is pleased to announce the appointment of three new important members to its management team, following the successful acquisition of the Pine Point zinc project near Hay River, Northwest Territories.
Halina McGregor, B. Com, CPA, CA – Chief Financial Officer
Ms. McGregor has extensive experience in corporate finance and managing the finance functions of several large corporations, including a number in the resource field. In 1988 she was appointed Chief Financial Officer of the International Explosive Business of Imperial Chemical Industries (ICI), serving the mining and construction industries in over 15 countries and with $1.5 billion in revenue. Positions later in her career included several years as Chief Financial Officer of both Sherritt International Corp., a nickel and cobalt mining company, and gold producer Goldcorp Inc. Ms. McGregor is a member of the Ordre des CPA du Québec, the Chartered Professional Accountant of Ontario, Institute of Corporate Directors and Financial Executives International.
With the appointment of Ms. McGregor as CFO, current Darnley Bay CFO Patricia Mannard has been appointed Vice President, Finance of the Company.
Timothy Smith, P. Eng – Vice-President, Operations
Mr. Smith is a professional metallurgical engineer with 38 years of experience opening and operating mines and mills across North America. After graduating from McGill University, Mr. Smith started work at Teck’s Afton copper mine and smelter in British Columbia, he rose to the position of Smelter Superintendent, after which he was appointed to increasingly senior positions within the Teck organization, including senior roles at the Bullmoose coal mine in B.C. and the David Bell gold mine in Ontario. He became manager of the Sullivan Concentrator for Cominco in Kimberly B.C., after which he became Operating Manager for seven years of the Red Dog mine in Alaska. After that he became General Manager of the Montana Tunnels gold mine in Montana and then Vice-Present Operations for Apollo Gold Corporation during construction of the Black Fox mine in Ontario. More recently he returned to Montana Tunnels to assist in returning that mine to production.
Judith Dudley, PhD – Vice-President, Environment
Dr. Dudley is a biologist with more than 30 years of comprehensive experience in water quality and water resources management, environmental analysis and permitting, and environmental impact analysis. From 2013-2014, she was Vice-President of Environmental and Community Affairs with Tamerlane Ventures, the previous owner of the Pine Point project. Previous to that she was Principal Scientist with AMEC E&I and its predecessor MACTEC for nine years. At AMEC she managed complex environmental baseline studies, ecological risk assessments, and environmental permitting efforts, in addition to serving as the senior technical scientist on projects managed by others. Dr. Dudley is a Certified Lake Manager with the North American Lake Management Society and is certified as a Project Manager with the Canadian Bioassessment Information Network (CABIN) program.
Jamie Levy, President and Chief Executive Officer of Darnley Bay, commented that “these three individuals are a welcome addition to our growing team of experienced mining professionals that will enhance our objective of bringing the Pine Point zinc mine back into production.”
The appointment of Ms. McGregor is subject to clearance of a PIF by the TSX Venture Exchange.
The company further announces that a total of 1,500,000 options to purchase common shares of the Company were granted on January 18, 2017 to directors, officers, employees and consultants at an exercise price of $0.40 per share, expiring on January 18, 2022, all subject to the terms and conditions of the Company’s stock option plan.
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Darnley Bay expects are forward-looking statements. Although Darnley Bay believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Darnley Bay, investors should review registered filings at www.sedar.com.
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.