TORONTO,
Nov. 21, 2013 /CNW/ - Moneta
Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta"
or the "Company") announces the appointment of Ken D. Tylee as Vice President Exploration and
the nomination of Roger Aubertin to
the Board of Directors.
Mr. Tylee has over 30 years of experience in the
world class Timmins Gold Camp in
Ontario with Kinross/Placer Dome/Goldcorp, Noranda and
Canamax. His extensive experience includes intimate knowledge
across most geological settings from the Quebec border, through Timmins, to the western
limits of the Destor Porcupine Fault Zone.
Mr. Tylee was most recently a Senior Exploration
Geologist at Goldcorp Inc. where he spent 19 years responsible for
surface exploration in northeastern Ontario and underground exploration at Hoyle
Pond, currently the highest grade gold mine in the Timmins Camp.
Mr. Tylee was also responsible for project generation and led site
visits and the assessment of numerous property submittals within
the Timmins area.
Mr. Tylee played a lead role on several
exploration teams, with an exceptional track record of 4
discoveries moving into gold production, including the Hollinger
Pit and Holloway Mine within the current Holt McDermott
complex.
Ian C. Peres,
President and CEO stated, "Mr. Tylee adds considerable depth to our
technical team and will be instrumental in growing our NI 43-101
resources and advancing our other key gold projects. His
underground experience at Hoyle Pond will be particularly important
in advancing the structural interpretation and growth in our high
grade gold resource in the Southwest Zone, in addition to other
high grade targets on our Golden Highway project."
Mr. Aubertin commented, "We are pleased to add
Mr. Tylee to our technical team with his extensive experience in
the Timmins camp and exceptional track record of exploration
successes. I will continue to be directly involved as an executive
director and look forward to working closely with Mr. Tylee and the
technical team to advance Golden Highway as well as our other
properties."
Prior to joining Moneta, Mr. Aubertin was
Exploration and Site Project Manager at Detour Gold Corporation
where he was responsible for planning and oversight of a 450,000
metre delineation drill program resulting in 14.9M oz in gold
reserves at its Detour Lake Mine, currently in production in
northeastern Ontario.
About Moneta
Moneta holds a 100% interest in 5 core gold projects strategically
located along the highly prospective Destor Porcupine Fault Zone in
the world class Timmins Camp, one of the best mining jurisdictions
in the world with over 75 million ounces of past gold production
and unmatched infrastructure including paved highway access, water,
electricity, skilled labor force, and nearby mills.
A Preliminary Economic Assessment (Dec 2012) for the flagship Golden Highway
project generated a Net Present Value of $748M using US$1,350 gold based on the NI 43-101 resource
estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t
Au) plus 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au),
clustered within four kilometres of similar geology.
Moneta's public documents may be accessed at
www.sedar.com. For further information on Moneta, please
visit our website at www.monetaporcupine.com or email us at
info@monetaporcupine.com.
This news release includes certain
forward-looking statements concerning the future performance of our
business, its operations and its financial performance and
condition, as well as management's objectives, strategies, beliefs
and intentions. Forward-looking statements are frequently
identified by such words as "may", "will", "plan", "expect",
"anticipate", "estimate", "intend" and similar words referring to
future events and results. Forward-looking statements are based on
the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to
a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks and the
availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events
or results may differ materially from those projected in the
forward looking-statements and we caution against placing undue
reliance thereon. We assume no obligation to revise or update these
forward-looking statements.
SOURCE Moneta Porcupine Mines Inc.