Genesis Metals Joins Discovery Group and Strengthens Team
TSX VENTURE: GIS
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2019) - Genesis Metals Corp. (TSXV: GIS) ("Genesis" or the "Company") today announced that Genesis has joined Discovery Group and appointed John Robins and Jim Paterson as Strategic Advisors. Genesis would also like to announce the appointment of Stephen Williams to the Board of Directors.
Jeff Sundar, President and Director commented, "On behalf of the Board of Directors we are very proud to join Discovery Group and happy to welcome the new additions to the team. Discovery Group includes companies advancing high quality resource projects such as Bluestone Resources Inc., Fireweed Zinc Ltd. and Great Bear Resources Ltd. Recent group M&A successes include Kaminak Gold Corp. acquired by Goldcorp. for $520 million in 2016 and Northern Empire Resources Corp. acquired for $117 million in 2018 by Coeur Mining.
John Robins and Jim Paterson, both principals of Discovery Group, have an enviable track record of success and bring significant capital markets and technical expertise. We are also pleased to appoint Stephen Williams to the Board of Directors, as Stephen brings significant experience in corporate finance, investor relations, and metallurgical engineering; all highly valuable as we look to advance Chevrier and unlock value for shareholders."
John Robins, P.Geo. - Strategic Advisor
Mr. Robins is a professional geologist with over 30 years of experience as an independent exploration geologist and entrepreneur. Most recently John was the founder and Chairman of Kaminak Gold which was purchased for $520 million by Goldcorp Inc. in 2016.
In 2008, Mr. Robins was recognized for his achievements in mining exploration by the Association for Mineral Exploration British Columbia with the H.H. "Spud" Huestis Award. This is recognized as one of the highest awards given for mineral exploration in Canada.
Mr. Robins has also been active in starting several successful public exploration and development companies culminating in 2005 with his founding of Discovery Group.
Jim Paterson - Strategic Advisor
Jim is a principal of Discovery Group and has been actively involved in marketing and corporate development activities for the group companies since 2002. Jim has 22 years of industry experience, including capital raises, acquisitions, joint-ventures, spin-outs, RTOs, and IPOs.
He is the Chairman and CEO of Valore Metals Corporation and was a driving force behind more than $60 million in equity financings for ValOre that lead to multiple discoveries and a 200% increase in mineral resources at ValOre's Angilak uranium project.
Jim was a long-standing and active director of Kaminak Gold Corp. (acquired by Goldcorp.) and founding director of Northern Empire Resources Corp. (acquired by Coeur Mining). In 2007, Jim founded Corsa Capital Ltd. Corsa's 2008 IPO lead to a 2010 transaction which created a leading U.S. metallurgical coal producer with a C$250M market capitalization.
Stephen Williams, P.Eng., MBA - Appointed to Board of Directors
Mr. Williams was previously a Director of the metals and mining investment banking team at Canaccord Genuity Corp. He provided strategic advice to clients on acquisitions, mergers, and equity financings. Stephen is a professional engineer by background and worked for Freeport-McMoRan in an operational and process development capacity. He holds a B.A.Sc. in Metallurgical Engineering from the University of British Columbia and an MBA from the W. P. Carey School of Business, Arizona State University.
Stephen is currently the Vice President of Corporate Development & Investor Relations for Bluestone Resource Inc., a Discovery Group company.
About Genesis Metals
The Company is focused on advancing the Chevrier Gold Project located 35 km southwest of Chibougamau, Quebec. On February 6, 2019, Genesis announced a new resource estimate for Chevrier: 423,000 ounces Indicated at 1.22 g/t gold and 303,000 ounces Inferred at 1.27 g/t gold.* Chevrier is located along the Fancamp Deformation Zone, 15 km northeast of the high-grade Monster Lake gold deposit and 15 km northwest of the past producing high-grade Joe Mann gold mine.
Genesis also owns 100% the 203 km2 October Gold project located in the southern Swayze greenstone belt in Benton Township, Ontario. This project is located 35 km northwest of IAMGold and Sumitomo Mining's Cote Lake deposit and 50km southeast of Goldcorp's Borden gold deposit.
*Both Indicated and Inferred categories comprise pit constrained and underground components with cut-off grades of 0.3 g/t Au and 0.95 g/t Au respectively. (previously disclosed in a Company news release dated February 6th, 2019)
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. The CIM definitions were followed for the classification of Indicated and Inferred Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated Mineral Resource category.
ON BEHALF OF THE BOARD
CEO and Director
President and Director
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-646-8356 Fax: 604-484-7155
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.
Certain disclosure in this release, including statements regarding the intended use of proceeds from the private placement, constitute forward-looking information or statements (collectively, "forward-looking statements") for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.