Vancouver, British Columbia--(Newsfile Corp. - January 3, 2020) - Constantine Metal Resources Ltd. (TSXV: CEM) (OTCQX: CNSNF) ("Constantine" or the "Company") announces the resignations of the following officers of the Company, effective as of December 31, 2019.
In June 2019, Constantine announced the spinout of its gold assets to a new company that was being created to unlock and distribute the value of Constantine's gold assets to its shareholders. Each Constantine shareholder of record on July 31, 2019 received one new company share of HighGold Mining Inc. ("HighGold") for every three shares of Constantine held. The spinout was completed under a plan of arrangement on August 1, 2019 and HighGold was listed and financed on the TSX Venture Exchange in September 2019 under the symbol HIGH.
The Company's Information Circular published last June disclosed that some of Constantine's management team would transition to the new company by the end of 2019. Mr. Darwin Green, Vice-President Exploration, and Ms. Naomi Nemeth, Vice-President Investor Relations, have now assumed full-time executive positions at HighGold as President & CEO and Vice-President Investor Relations, respectively. The Company gratefully acknowledges and thanks them both for their valuable contributions to Constantine over the term of their employment, including the transition period of the past five months, and wishes them every success in the growth and development of HighGold.
HighGold is currently a well-financed mineral exploration company with approximately $14M in working capital, focused on premier high-grade gold projects located in North America. HighGold's flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in south-central Alaska, USA. The spinout included HighGold's flagship asset, the high-grade Johnson Tract Gold (Zn-Cu) Project located in south-central Alaska, USA, and a portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada, namely the Munro-Croesus Gold property, renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold's management is committed to creating shareholder value through the discovery process, careful stewardship of capital, and environmentally/socially responsible mineral exploration.
Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on premier North American mining environments. The Company's flagship asset is the Palmer Project, a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Co., Ltd. (49%), with Constantine as operator. Management is committed to providing shareholder value through discovery, meaningful community engagement, environmental stewardship, and responsible mineral exploration and development activities that support local jobs and businesses.
Please visit Constantine's website (www.constantinemetals.com) for more detailed company and project information.
On Behalf of Constantine Metal Resources Ltd.
President & CEO
For further information please contact:
Garfield MacVeigh, President
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.
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's management changes and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.