TORONTO, October 13, 2015 /PRNewswire/ --
AuRico Metals Inc. (TSX: AMI),
("AuRico" or the "Company") today announced that Scott Perry has resigned from his position as
executive Chairman, as he takes on the CEO role with a large gold
mining company. Mr. Perry will remain a member of the AuRico Metals
Board of Directors. Richard
Colterjohn, previously an AuRico Metals Director, has been
appointed non-executive Chairman of the Board.
Mr. Colterjohn brings more than 25 years of experience in the
mining sector, including a lengthy career in investment banking and
as founder and CEO of a Chile-based copper company. Mr. Colterjohn
also holds significant public company director experience.
Commenting on Mr. Colterjohn's appointment, Chris Richter, President and CEO of AuRico
Metals, said: "Richard's knowledge and experience in the mining
industry are truly exceptional and we are very happy that he has
agreed to take on the Chairman role."
Mr. Richter continued; "On behalf of our Board of Directors and
the management team at AuRico, I would like to sincerely thank
Scott for his essential efforts in establishing AuRico Metals and
his strong commitment to the company's ongoing success. We look
forward to continuing to benefit from Scott's involvement at the
Board level and we wish him all the best in his new role."
About AuRico Metals
AuRico Metals is a precious metals royalty and development
company whose royalty assets include a 1.5% NSR on the
Young-Davidson Gold Mine, a 0.25% NSR on the Williams mine at
Hemlo, and a 0.5% NSR on the Eagle
River mine - all located in Ontario,
Canada. AuRico Metals also has a 2% NSR on the Fosterville
Mine, located in Victoria,
Australia, and 100% ownership of the advanced stage Kemess
Project in British Columbia,
Canada. AuRico Metals' goal is to deliver sustained value
creation for the company's many stakeholders. AuRico Metals' head
office is located in Toronto, Ontario,
Canada.
Cautionary Statement
This press release contains forward-looking statements and
forward-looking information as defined under Canadian and U.S.
securities laws. All statements, other than statements of
historical fact, are forward-looking statements. The words
"expect", "believe", "anticipate", "will", "intend", "estimate",
"forecast", "budget" and similar expressions identify
forward-looking statements. Forward-looking statements include
information as to strategy, plans or future financial or operating
performance, such as the Company's expansion plans, project
timelines, production plans, projected cash flows or capital
expenditures, cost estimates, projected exploration results,
reserve and resource estimates and other statements that express
management's expectations or estimates of future performance.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by
management, are inherently subject to significant uncertainties and
contingencies. Known and unknown factors could cause actual results
to differ materially from those projected in the forward-looking
statements, including: uncertainty of production and cost
estimates; fluctuations in the price of gold and foreign exchange
rates; the uncertainty of replacing depleted reserves and the
possible recalculation or reduction of reserves and resources; the
risk that the Young-Davidson shaft will not perform as planned;
the risk that mining operations do not meet expectations; the risk
that projects will not be developed according to budgets or
timelines, changes in laws in Canada, Australia and other jurisdictions in which the
Company may carry on business; risks of obtaining necessary
licenses, permits or approvals for operations or projects such as
Kemess; disputes over title to properties; the speculative nature
of mineral exploration and development; compliance risks with
respect to current and future environmental regulations;
disruptions affecting operations; opportunities that may be pursued
by the Company; employee relations; availability and costs of
mining inputs and labor; the ability to secure capital to execute
business plans; volatility of the Company's share price; the effect
of future financings; litigation; risk of loss due to sabotage and
civil disturbances; the values of assets and liabilities based on
projected future cash flows; risks arising from derivative
instruments or the absence of hedging; adequacy of internal control
over financial reporting; changes in credit rating; and the impact
of inflation. Actual results and developments are likely to differ,
and may differ materially, from those expressed or implied by the
forward-looking statements contained herein. Such statements are
based on a number of assumptions which may prove to be incorrect,
including assumptions about: business and economic conditions;
commodity prices and the price of key inputs such as labour, fuel
and electricity; credit market conditions and conditions in
financial markets generally; revenue and cash flow estimates,
production levels, development schedules and the associated costs;
ability to procure equipment and supplies and ability to do so on a
timely basis; the timing of the receipt of permits and other
approvals for projects and operations; the ability to attract and
retain skilled employees and contractors for the operations; the
accuracy of reserve and resource estimates; the impact of changes
in currency exchange rates on costs and results; interest rates;
taxation; and ongoing relations with employees and business
partners. The Company disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by applicable law.
For further information please see http://www.auricometals.ca or
contact: Chris Richter, President
and Chief Executive Officer, AuRico Metals Inc., +1-416-216-2780,
chris.richter@auricometals.ca; Rob
Chausse, Chief Financial Officer, AuRico Metals Inc.,
+1-416-216-2780, robert.chausse@auricometals.ca