Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the
“Company”), is pleased to announce that, effective immediately,
Terrence (“Terry”) Smith has been appointed to the position of
Chief Operating Officer and Bryan Wilson has been appointed Vice
President Mine General Manager of the PureGold Mine. Phil
Smerchanski has also been promoted to Vice President Exploration
& Technical Services.
Troy Fierro, President & CEO of PureGold
stated, “We are extremely excited to welcome Terry and Bryan to
PureGold. Terry is a talented Mining Engineer, optimization
specialist, and innovative leader who will enhance our operational
planning and execution capabilities. Terry’s sharp focus on, and
deep understanding of, the drivers of long-term value creation in
mining and his ability to assemble and lead effective teams make
him ideally suited to help shape and execute the Company’s
long-term vision for the PureGold Mine. Incoming Mine General
Manager, Bryan Wilson, is an exemplary leader who is known for
establishing a strong safety culture and leading highly productive
operations teams. We are also pleased to promote Mr. Phil
Smerchanski to Vice President Exploration & Technical Services.
In this expanded role, Mr. Smerchanski will work closely with both
Mr. Smith and Mr. Wilson in supporting the Technical Services team
at the PureGold Mine site. As we continue to ramp up the PureGold
Mine to its full potential, these appointments reflect our
commitment to a culture of operational and technical excellence. I
look forward to Terry, Bryan and Phil’s leadership in their
respective areas.”
Terry Smith, Chief Operating Officer of PureGold
stated, “PureGold represents a rare opportunity with all the
makings of a long-life, highly profitable gold mine in a
world-class gold mining district. I have been continually impressed
with the quality of the team in place and with the growth potential
of the asset, and I look forward to stepping in to lead the next
phase of PureGold’s development. Like so many of the high-grade
gold successes in Canadian mining history, success at PureGold will
come as the result of deep geological understanding, a commitment
to operational excellence, and reinvesting in the operation for
long-term returns. I look forward to working with the team at
PureGold, the local communities, and all of our stakeholders and
partners toward our vision of building a multi-generational
Canadian gold mining company rooted in the heart of Red Lake.”
Maryse Bélanger remains on PureGold’s Board of
Directors and will work closely with Mr. Smith and Mr. Wilson to
ensure a smooth transition in the roles of Chief Operating Offering
and Vice President Mine General Manager, respectively.
Maryse Bélanger stated, “When I took on the role
of Mine General Manager in November 2021, my mandate was to drive
functional leadership through all levels of the organization and to
establish a culture that fosters operational excellence. In just
over three months the PureGold Mine has undergone significant
changes which I believe have set the mine on a path toward
long-term success. It is my pleasure today to introduce Bryan
Wilson as our new Vice President Mine General Manager. Bryan’s deep
operational experience and strong leadership ability make him the
ideal person to continue building upon the progress we made toward
achieving the PureGold Mine’s full potential. I remain committed to
PureGold and to the PureGold Mine and will support Bryan completely
both as his predecessor and as a director of the Company.”
Management Profiles
Terry Smith – Chief Operating
Officer
Terry Smith is a Mining Engineer and a versatile
mining executive who brings over 20 years of industry experience to
PureGold, including 15 years focused on underground operations.
Prior to joining PureGold, Mr. Smith served as Chief Development
Officer and Senior Vice President, Operations with Coeur Mining
Inc. where he oversaw the safe and efficient operation and
strategic development of Coeur’s portfolio of precious metals
operations and projects across North America. Prior to joining
Coeur, Mr. Smith served as Vice President, Project Development and
Assessments for Hunter Dickinson Inc., Manager of Operations
Support for Barrick Gold Corporation, and Senior Mining Engineer
for Teck Cominco Ltd. Mr. Smith holds a Bachelor of Mining
Engineering from Laurentian University.
Bryan Wilson – Vice President Mine
General Manager
Bryan Wilson brings over 34 years of mining
industry experience, the majority of which has been in management
positions at operating mines. From 2015 to 2021, Mr. Wilson served
as Mine General Manager of Impala Canada’s Lac Des Iles Mine
(formerly North American Palladium) where he led a workforce of
over 700 employees. Under his leadership, the Lac Des Iles mine
experienced a significant turnaround from challenged entity to a
profitable mine. Bryan’s previous experience includes Mine
Manager/Operations Senior Manager at Lac Des Iles, Operations
General Foreman at Nickel Rim South Mine for Glencore, Construction
Coordinator, Lateral Mine and Blasthole Coordinator, Frontline
Development Coordinator, Transportation Captain and Frontline
Supervisor. Mr. Wilson began his career as an underground miner in
Red Lake, Ontario, first with Dickenson Mines and subsequently with
Placer Dome at the Campbell Mine from 1988 to 2001.
Options and RSUs
The Company has granted 4,440,000 stock options
and 2,600,000 Restricted Share Units (“RSUs”) to certain employees
pursuant to its Stock Option and RSU Plans.
The stock options have an exercise price of
$0.70 and have a range of vesting periods over three years and
expire after five years.
The RSUs are payable in common shares of the
Company on exercise, have a range of vesting periods over three
years and must be redeemed within 30 days of February 17, 2025, or
they expire.
About Pure Gold Mining Inc.
PureGold is a Canadian gold mining company,
located in the very heart of Red Lake, Ontario, Canada. Our vision
is pure and simple. To build a highly profitable,
multi-generational growth company in the world-class gold mining
district of Red Lake. With our 100%-owned, fully constructed
operating PureGold Mine, a multi-million-ounce gold endowment, and
significant exploration upside, our value-maximizing strategy is to
pursue operational excellence today, while investing in systematic
exploration and phased expansions to fuel discovery and growth for
the future.
Additional information about the Company and its activities may
be found on the Company’s website
at www.puregoldmining.ca and under the Company’s profile
at www.sedar.com
ON BEHALF OF THE BOARD
"Troy
Fierro" Troy
Fierro, President & CEOInvestor
inquiries: Adrian O’Brien, Director, IR &
CommunicationsTel: 604-809-6890aobrien@puregoldmining.ca
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
All statements in this press release, other than
statements of historical fact, are "forward-looking information"
with respect to PureGold within the meaning of applicable
securities laws, including, but not limited to statements with
respect to those that address proposed timing of development plans
for the PureGold Mine, potential for extending the mine life of the
PureGold Mine, and potential for additional resources and expansion
of known deposits and potential for making new discoveries and the
focus of the Company in the coming months. Forward-looking
information is often, but not always, identified by the use of
words such as "seek", "anticipate", "plan", "progress", "confirms",
"continue", "planned", "expect", "expectations", "expand",
"enhanced", "increasing", "optimize", "project", "predict",
"potential", "supports", "targeting", "intends", "believe",
"improved", "potential", and similar expressions, or describes a
"goal", or variation , of such words and phrases or state that
certain actions, events or results "may", "should", "confirms",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold and other metal
prices, currency exchange rates and interest rates, favourable
operating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing
licences and permits and obtaining required licences and permits,
labour stability, stability in market conditions, availability of
equipment, accuracy of any mineral resources, successful resolution
of disputes and anticipated costs and expenditures. Many
assumptions are based on factors and events that are not within the
control of PureGold and there is no assurance they will prove to be
correct.
Such forward-looking information, involves known
and unknown risks, which may cause the actual results to be
materially different from any future results expressed or implied
by such forward-looking information, including, risks related to
the interpretation of results at the PureGold Mine complex; changes
in project parameters as plans continue to be refined; current
economic conditions; future prices of commodities; possible
variations in grade or recovery rates; the costs and timing of the
development of new deposits; failure of equipment or processes to
operate as anticipated; the failure of contracted parties to
perform; the timing and success of exploration and development
activities generally; delays in permitting; possible claims against
the Company; the timing of future economic studies; labour disputes
and other risks of the mining industry; delays in obtaining
governmental approvals, financing or in the completion of
exploration as well as those factors discussed in the Annual
Information Form of the Company dated March 31, 2021 in the section
entitled "Risk Factors", under PureGold’s SEDAR profile at
www.sedar.com.
Although PureGold has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
PureGold disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise unless required by law.
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