Vancouver, British Columbia--(Newsfile Corp. - April 20, 2020) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink: USTDF) ("Fremont" or the "Company") is pleased to announce that Randall Chatwin, the current Vice President, Associate General Counsel of B2Gold Corp. and former Vice President, Assistant General Counsel of Goldcorp Inc., has been appointed to the Company's board of directors.
"Randall is an excellent addition to Fremont's board of directors," said Blaine Monaghan, CEO of Fremont. "Randall's legal and governance background, and his experience with senior gold mining companies, will be invaluable as the Company advances Griffon. The fully funded drill program at Griffon is expected to commence sometime this June."
Randall Chatwin replaces Paul Reynolds, who had been a respected member of Fremont's board since 2017. Fremont would like to thank Paul for his service and wishes him all the best in his professional and personal endeavours.
Randall Chatwin biography
Randall Chatwin has more than 15 years' experience in the mining industry and joined B2Gold Corp. in September 2019 as Vice President, Associate General Counsel, where he is responsible for legal and governance matters. Mr. Chatwin had previously served as Vice President, Assistant General Counsel of Goldcorp Inc., one of the world's leading gold mining companies, from May 2015 to May 2019. Mr. Chatwin was instrumental in the execution of Goldcorp's US$12.5 billion merger with Newmont Mining Corporation in April 2019. Prior to joining Goldcorp, Mr. Chatwin was a partner at the law firm of Lawson Lundell LLP, where he spent 11 years practicing corporate commercial and corporate finance law, with a specific focus on the mining industry. Mr. Chatwin holds a Bachelor of Arts degree from the University of Victoria, British Columbia, and Juris Doctor (law) degree from the University of Saskatchewan.
Griffon gold project
Griffon is a past-producing gold mine located at the southern end of the Cortez Trend, approximately 75 km southwest of Ely, and is accessed via paved highway and Forest Service roads. Mineralization at Griffon is Carlin-type and is comparable to the mineralization found at several deposits at the Kinross Bald Mountain Mine complex, approximately 70 km to the north.
Griffon was first drilled in 1988 and a limited amount of shallow drilling (214 drill holes in total) focused on delineating the Discovery Ridge and Hammer Ridge deposits, leaving the remainder of the property essentially untested.
From 1997-1999, Alta produced gold from Discovery Ridge and Hammer Ridge in an oxide heap-leach operation. Alta reported a number of unmined drill intercepts to the southwest of Hammer Ridge, including drill hole GR97-175 which returned 57.9 metres at 0.86 g/t gold, and proposed expanding Hammer Ridge before operations ceased.
Griffon hosts numerous gravity, soil and stratigraphic drill targets. The Pilot Shale horizon - the primary gold host at Fiore Gold's nearby Pan Mine - has not been adequately tested, and the Joana/Chainman transitional horizon, which hosts gold at Griffon, may be concealed underneath and within the Blackrock fault. Lastly, there is also potential in and around the pits, as demonstrated by drill hole GR97-175.
The fully funded drill program is expected to commence in June. Underexplored and last drilled in the 1990s, Griffon offers multiple opportunities for the discovery of a Carlin-type gold deposit.
Grant of Stock Options
Fremont's Board of Directors has approved the granting of stock options to various employees, directors and consultants pursuant to the Company's stock option plan. The stock options entitle the holders (11 people in all) to purchase a total of 3,250,000 common shares in the capital stock of the Company at a price of $0.10 per common share. The stock options have a term of five years and vest over a 24-month period. The stock option grant includes 250,000 stock options granted to a principal of G2 Consultants Corp. which undertakes Investor Relations Activities on behalf of the Company (see news release dated March 16, 2020).
The content of this news release was reviewed by Dennis Moore, Fremont's President, a qualified person as defined by National Instrument 43-101.
Fremont's mine-finding management team has assembled a portfolio of high-quality Nevada gold projects with the goal of making a new discovery. The Company's flagship project is the past-producing Griffon gold project, located at the southern end of the Cortez Trend. Fremont's other projects include Cobb Creek, North Carlin, Goldrun, and Hurricane.
On behalf of the Board of Directors,
Fremont Gold Ltd.
For further information, contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Neither 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
Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will", "hope", "will be", "expected" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are not limited to the potential for the discovery of a Carlin-type deposits and the anticipated start date of the drill program at Griffon. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Actual results and future events could differ materially from those anticipated in such statements. Fremont undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.