VANCOUVER, Sept. 5, 2019 /CNW/ - Trilogy Metals Inc.
(TSX / NYSE American: TMQ) ("Trilogy Metals" or the "Company")
announces the resignation of Rick Van
Nieuwenhuyse as CEO, President and director of Trilogy
Metals. James (Jim) Gowans has
been appointed CEO and President on an interim basis.
Mr. Van Nieuwenhuyse will remain
as a consultant to the Company until January
31, 2020 and will assist with transitional matters and with
advancing the Company's interests in Alaska.
The Board of Directors of Trilogy Metals wishes to thank Mr.
Van Nieuwenhuyse for his
contributions to the Company over the years including the integral
role he has played in the development of the Ambler Mining
District. In 2004, Mr. Van
Nieuwenhuyse negotiated the acquisition of the Ambler Mining
District assets from Rio Tinto subsidiary, Kennecott Copper.
In 2011, he concluded an agreement with NANA Regional Corporation,
Inc. for the Bornite property further consolidating the district
and developing a partnership with a leading Alaska Native
Corporation. Mr. Van
Nieuwenhuyse built a partnership with the State of Alaska, specifically, the Alaska
Industrial Development and Export Authority, to promote the
development of a road to the Ambler Mining District. That
effort culminated recently with the issuance of the Draft
Environmental Impact Statement for the Ambler Mining District
Industrial Access Project, a proposed 211-mile road that will link
the Ambler Mining District to the existing rail and port
infrastructure in southcentral Alaska.
About Jim Gowans
Mr. Gowans is a director of the Company and was President and
CEO of Arizona Mining Inc. from 2016 to 2018 when Arizona Mining
was purchased by South32 Limited. Previously he was a Senior
Advisor to the Chairman, Co-President and EVP and COO at Barrick
Gold Corporation from 2014 to 2015. Mr. Gowans has extensive
experience in Alaska. He completed
the feasibility study for the Red Dog Mine, oversaw the design and
construction of that mine and then operated Red Dog for three years
after commissioning.
The Board of Directors of the Company will commence a search for
a permanent Chief Executive Officer shortly.
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration company focused on
exploring and developing the Ambler mining district located in
northwestern Alaska. It is one of
the richest and most-prospective known copper-dominant districts
located in one of the safest geopolitical jurisdictions in the
world. It hosts world-class polymetallic volcanogenic massive
sulphide ("VMS") deposits that contain copper, zinc, lead, gold and
silver, and carbonate replacement deposits which have been found to
host high grade copper mineralization. Exploration efforts have
been focused on two deposits in the Ambler mining district - the
Arctic VMS deposit and the Bornite carbonate replacement deposit.
Both deposits are located within the Company's land package that
spans approximately 143,000 hectares. The Company has an agreement
with NANA Regional Corporation, Inc., a Regional Alaska Native
Corporation, that provides a framework for the exploration and
potential development of the Ambler mining district in cooperation
with local communities. Our vision is to develop the Ambler mining
district into a premier North American copper producer.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, included
herein, are forward-looking
statements. Forward-looking statements are frequently, but not
always, identified by words such as "expects", "anticipates",
"believes", "intends", "estimates", "potential", "possible", and
similar expressions, or statements that events, conditions, or
results "will", "may", "could", or "should" occur or be achieved.
These forward-looking statements may include statements regarding
perceived merit of properties; exploration plans and budgets;
mineral reserves and resource estimates; timing of the feasibility
study; funding by South32; work programs; capital expenditures;
timelines; strategic plans; market prices for precious and base
metals; or other statements that are not statements of fact.
Forward-looking statements involve various risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Company's expectations include the uncertainties involving the
interpretation of drill results, the need for additional financing
to explore and develop properties and availability of financing in
the debt and capital markets; uncertainties involved in the
interpretation of drilling results and geological tests and the
estimation of reserves and resources; the need for cooperation of
government agencies and native groups in the development and
operation of properties as well as the construction of the access
road; the need to obtain permits and governmental approvals; risks
of construction and mining projects such as accidents, equipment
breakdowns, bad weather, non-compliance with environmental and
permit requirements, unanticipated variation in geological
structures, metal grades or recovery rates; unexpected cost
increases, which could include significant increases in estimated
capital and operating costs; fluctuations in metal prices and
currency exchange rates; and other risks and uncertainties
disclosed in the Company's Annual Report on Form 10-K for the year
ended November 30, 2018 filed with
Canadian securities regulatory authorities and with the United
States Securities and Exchange Commission and in other Company
reports and documents filed with applicable securities regulatory
authorities from time to time. The Company's forward-looking
statements reflect the beliefs, opinions and projections on the
date the statements are made. The Company assumes no obligation to
update the forward-looking statements or beliefs, opinions,
projections, or other factors, should they change, except as
required by law.
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SOURCE Trilogy Metals Inc.