VANCOUVER, BC, Oct. 08, 2017 (GLOBE NEWSWIRE) -- Ascot Resources Ltd (TSXV:AOT) (“Ascot” or the “Company”) is pleased to announce the appointment of Mr. Rick Zimmer to the role of non-executive Chairman of the Board of Directors of Ascot (the “Board”), effective October 7th, 2017.
Mr. Zimmer was recently appointed to the Board and brings a wealth of experience from his 40-plus years of mining operating and project experience. In addition to Mr. Zimmer’s technical experience, he has served on a number of boards and board committees as an independent director. Prior to announcement, the Company did not have a Chairman of the Board and the establishment of the Chairman role will help the remainder of the Board and management more effectively develop the Company going forward.
Derek White, the Company’s newly appointed President and CEO, commented, “I am so very pleased that Rick has accepted the Board’s nomination to serve as non-executive independent Chairman of the Board. Rick’s experience, hardworking approach and guidance will be a tremendous asset to the Company.”
“It is a privilege to be appointed to Board Chair of Ascot. It is an exciting time for the company which is poised to deliver substantial value to its shareholders and stakeholders as it embarks on the next phase of development of its flagship Premier-Dilworth Property and other projects. I look forward to working with the Board and the executive team led by Derek White,” Rick Zimmer commented.
Ascot is also pleased to announce the appointment of Mr. John Kiernan to the role of Chief Operating Officer, effective October 7th, 2017. Mr. Kiernan is a professional mining engineer with over 30 years of operational development experience, including a cumulative four years as an underground miner and operating foreman. Previously, Mr. Kiernan served as the VP Project Development for Magellan Minerals, the Manager Project Evaluation for QuadraFNX Mining, as a Mining Analyst for PI Financial Corp and VP Mining/Mine Manager for Roca Mines Inc. In the period from 1987 to 2006, Mr. Kiernan held various senior engineering positions with Strathcona Mineral Services, Inco Ltd., Wardrop and AMEC. Mr. Kiernan holds has a B.Sc in Mining Engineering from Queen’s University and an MBA from Laurentian University. He is currently serving as a director of Kapuskasing Gold Ltd. and Northern Superior Resources Inc.
Derek White also commented, “John is a highly energetic and creative mining engineer with a passion for developing mining operations. It is great to have him on our team and utilize his tremendous experience to develop Ascot’s assets and technical capabilities going forward.”
Ascot announces that it has granted an aggregate of 6,000,000 incentive stock options (the “Options”) to certain directors and officers of the Company, of which 5,400,000 Options were granted on October 6, 2017 with an exercise price of $1.60 per share, and 600,000 Options were granted on October 7, 2017 with an exercise price of $1.70 per share. The Options are exercisable for a five-year period from the date of grant.
The Options are granted pursuant to the Company’s stock option plan which was approved by shareholders at the Company’s annual general meeting of shareholders held on September 27, 2016. The grant of the Options is subject to the approval of the TSX Venture Exchange.
About Ascot Resources Ltd.
Ascot is a focused gold and silver explorer with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. The company’s flagship Premier-Dilworth Gold Project is a near-term high-grade advanced exploration project with large upside potential. With an experienced and highly regarded major shareholder, coupled with an experienced and successful exploration team, Ascot is poised to be the next Golden Triangle producer.
