TORONTO, Feb. 25, 2019 /CNW/ - RNC Minerals (TSX: RNX)
(RNC) has implemented changes to its Board of Directors to
enhance its performance and that of the company going forward.
Effective immediately, Paul Andre
Huet, who joined the RNC Board on November 18, 2018, will assume the role of
Executive Chairman of the Company. As Executive Chairman, Mr. Huet
will take an active role working with management to deliver on the
strategy of the Company, including the implementation of our plans
for the Beta Hunt Mine in Western
Australia. Scott Hand, former
Executive Chairman of the Board, will become Lead Director. Warwick
Morley-Jepson, who has been an Observer to the Board, will now join
the Board and assume the role of Chairman of the Technical
Committee.
Mr. Hand stated that "The Company will benefit from Paul's
extensive experience in the gold industry. He will work closely
with management to realize the great potential for the Beta Hunt
mine and to enhance the value of the company overall." Mr. Huet
stated: "With these changes to the Board, we are preparing the
Company to be more focused on our more advanced Beta Hunt asset in
Western Australia. I look forward
to working closely with CEO Mark
Selby and the RNC management team to support them in every
way I can to realize the great potential for the Company for all
our shareholders."
Paul Andre Huet has over 30 years
of career experience in the mining industry and is an expert in
narrow vein, high grade mining. Most recently Mr. Huet was
President, CEO and Director of Klondex Mines from 2012 to 2018
until it was acquired by Hecla Mining Company.
Mr. Hand stated that: "Warwick,
with his extensive experience in the gold industry, will continue
to provide excellent expertise to the Company." Mr. Morley-Jepson
has more than 35 years of experience in the gold mining industry.
Prior to his retirement in 2016, he served as Executive Vice
President and Chief Operating Officer of Kinross Gold
Corporation.
Donald McInnes will retire from
the Board to allow Warwick Morley-Jepson to move from his observer
status to a full director. Frank
Marzoli, who was a founder of RNC, intends to retire from
the Board once the Company has identified a person to succeed him
as a director. Mr. Marzoli stated: "I believe that the changes
being made with Paul assuming the role of Executive Chairman put
the Company in an excellent position to succeed at Beta Hunt and
Dumont for the benefit of our shareholders." Mr. Hand stated: "We
most appreciate the service of Frank and Donald. They have been
fine directors and we wish them well for the future."
About RNC Minerals
RNC has a 100% interest in the producing Beta Hunt gold mine
located in Western Australia where
a significant high grade gold discovery - "Father's Day Vein" - was
recently made. RNC is currently completing a 40,000 metre drill
program, the results of which will be incorporated into an updated
NI 43-101 compliant Mineral Resource Estimate and mine plan
targeted for Q2 2019. Beta Hunt gold resource potential is
underpinned by multiple gold shears with gold intersections across
a 4km strike length which remain open in multiple directions
adjacent to an existing 5km ramp network. RNC also has a 28%
interest in a nickel joint venture that owns the Dumont
Nickel-Cobalt Project located in the Abitibi region of Quebec which contains the second largest
nickel reserve and eighth largest cobalt reserve in the world. RNC
owns a 33% interest in Orford Mining Corporation, a mineral
explorer focused on highly prospective and underexplored areas of
Northern Quebec. RNC has a strong
management team and Board with over 100 years of mining experience.
RNC's common shares trade on the TSX under the symbol RNX. RNC
shares also trade on the OTCQX market under the symbol RNKLF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information"
including without limitation statements relating to the liquidity
and capital resources of RNC, production guidance and the potential
of the Beta Hunt Mine as well as the potential of the Dumont
development project and Orford Mining's Qiqavik, and West Raglan,
exploration properties.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of RNC to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to RNC's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news
release and RNC disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
SOURCE RNC Minerals