VANCOUVER, November 12, 2012 /PRNewswire/ --
- All $ are in Canadian dollars
Northern Vertex Mining Corp. (TSX.V:NEE) (OTCQX:NHVCF) ("Northern Vertex" or the "Company") is pleased to announce that Mr. J.R.H. (Dick) Whittington, P.Eng. has been appointed President and Chief Executive Officer of the Company, effective immediately. Mr. Whittington will also be joining the Company's Board of Directors.
Mr. Whittington's distinguished career spans 35 years with a select variety of mining companies in Canada, Mexico, Panama, Papua New Guinea and Australia. His experience encompasses senior executive and mine management roles that include numerous feasibility studies, mine evaluations, mine development, production, mergers and acquisitions and raising over $1.3 billion of major corporate financings.
As President and CEO of Northern Vertex, Mr. Whittington will be working closely with the Company's Board of Directors to lead in the transition of advancing the Company's flagship, Moss Gold Project in Arizona from its current stage of development to near-term gold production. He will also be responsible for the review of all financing, development and acquisition alternatives for the Company with a view to creating long-term shareholder value.
Northern Vertex wishes to thank Mr. Kenneth Berry, for his service to the Company as President and CEO. Mr. Berry has skillfully guided the Company through a key period of development that has resulted in timely acquisitions, financings and the successful advancement of the Company's two gold projects. Mr. Berry will move to the position of Chairman of the Company's Board of Directors, where his broad range of management and finance expertise will continue to be invaluable.
"I'm very excited to take a leadership role with Northern Vertex and to participate in the accelerated growth of the Company as we move towards a production decision on the Moss Gold Project in Arizona," said Mr. Whittington. "The Company and its technical team has been highly successful in a short period of time developing its core assets and I look forward to building on that success and playing my part to ensure we maximize the value for shareholders and stakeholders alike."
"We have continued to put significant emphasis on building a corporate team that is capable of taking projects from the development stage through to production," said Northern Vertex CEO Kenneth Berry. "Mr. Whittington's leadership strengths and his demonstrated abilities in mine finance, mine construction, mine operations and mine production will undoubtedly play a vital role in the Company moving its flagship Moss Gold Project towards Production."
As former President and CEO of Farallon Mining, Mr. Whittington took the company from the discovery stage through to commercial production in less than four years. After guiding the Company through its impressive transition from a junior exploration company to a successful Mid-tier zinc producer, he facilitated the successful sale of the company to Nyrstar for $409 million in January of 2011.
Over the course of his career, Mr. Whittington has developed strong working relationships with business leaders and government in the countries in which he operates. In Mexico this lead to the founding and Chairing the Canadian Mining Task Force, an organization he set up to represent Canadian mining and exploration companies interest in Mexico. The aggregate market capitalization of these companies represented by the Task Force represented was in excess of $50 Billion.
He was recognized for his accomplishments, when the Governor General of Canada, Ms. Michaelle Jean, awarded Mr. Whittington a Governor General Gold Medal as a result of his work to strengthen ties between Canada and Mexico and for his commitment to Corporate Social Responsibility in mining.
He was also selected as one of the three finalists for the Ernst & Young Entrepreneur of the Year Award for 2010, in the mining category for the Pacific region. This recognition was presented as a result of his entrepreneurial approach to bring the G-9 Mine into production in a non-traditional manner, specifically the "Parallel Track Approach". The Parallel Track Approach allowed G 9 to come on line and into production on time and on budget in less than four years from its initial greenfield discovery.
Mr. Whittington, P.Eng., was educated at the prestigious Royal School of Mines in the United Kingdom where he received his B.Sc in Mining Engineering. Mr. Whittington also serves on the boards of Kootenay Silver and Great Panther Silver, both Mexican based mining companies.
Subject to the approval of the TSX Venture Exchange, Northern Vertex has issued an aggregate total of 2,450,000 incentive stock options exercisable for a period of 5 years at a price of $1.40 to directors, officers and consultants of the company.
About Northern Vertex: Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the development of precious metals deposits in Canada and the United States. The Company comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development and financing of precious metal mining projects. Its flagship Moss Gold Project located in Arizona, USA contains 956,800 oz of Au-Eq in the measured and indicated categories and is rapidly progressing the project to a production decision.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry", Chairman of the Board
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
Cautionary Note to U.S. Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated insuch statements.
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.
For further information:
For further information, please visit http://www.northernvertex.com or contact Investor Relations at: +1-604-601-3656 or at +1-855-633-8798.