THUNDER BAY, ON, May 31, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) (the "Company" or
"Wolfden") is pleased to announce proposed changes to
its management and board of directors, in connection with its
upcoming annual and special meeting of shareholders (the
"Meeting") to be held on Tuesday,
June 26, 2018 at 4:30 p.m.
(Toronto time) at the offices of
Bennett Jones LLP, 3400 One First Canadian Place, 100 King Street
West, Toronto, Ontario.
Effective following the Meeting, Mr. Ronald Little, a current director of the
Company, has been appointed as President and Chief Executive
Officer replacing Mr. Donald Hoy,
who will continue to lead the Company's exploration, development
and acquisitions as Executive Vice-President of Exploration.
Nominated as new directors of the Company are Mr. Ian Atkinson, Mr. Don
Bubar and Mr. John Seaman.
Messrs. Ewan Downie and Ronald Little will stand for re-election as
directors of the Company. Messrs. David
Brown, Donald Hoy,
Dan Mechis and Tom Quigley have elected not to stand for
re-election as directors of the Company. The election of
Messrs. Ian Atkinson, Don Bubar and John
Seaman as directors of the Company is subject to the
approval of the TSX Venture Exchange.
"The acquisition of the Pickett Mountain Project was a
transformational event for the Company and adding mine
development expertise at the board level, will assist us in
advancing our projects," stated Ewan Downie,
Chairman of the board for Wolfden. "I would
personally like to recognize the efforts of our outgoing
members for their years of commitment as
they have supported our focus on Maine as a favourable
jurisdiction. Lastly, I am very pleased that
Ron Little will become Wolfden's
President and Chief Executive Officer. His extensive
knowledge with project development, financing, acquisitions and
underground operations will be a strong addition to
Don Hoy's expertise in exploration.
I look forward to working closely with Ron,
Don and the new board members with
a renewed focus on exploration and development
success."
About the New Nominees
Ian Atkinson - Mr.
Atkinson was previously President and Chief Executive Officer and a
director of Centerra Gold Inc. before retiring in 2015. He has more
than 40 years of experience in the mining industry with extensive
background in exploration, project development and mergers and
acquisitions. Prior to his ten-year tenure at Centerra Gold Inc.,
Mr. Atkinson held various senior leadership positions with Hecla
Mining Company, Battle Mountain Gold Inc., Hemlo Gold Mines Inc.
and the Noranda Group. Mr. Atkinson has contributed to the
discovery of several major mineral deposits and been involved in a
number of large global mining projects in his career. Mr. Atkinson
holds a Bachelor of Science degree in geology from King's College,
University of London and a Masters
degree in geophysics from the Royal School of Mines, University of
London.
Don Bubar - Mr. Bubar is a
professional geoscientist with 40 years experience in mineral
exploration and development in Canada. Mr. Bubar is a graduate of
McGill University (B.Sc. 1977) and
Queen's University (M.Sc. 1981). From 1984 to 1994, he worked for
Aur Resources Inc. as Exploration Manager and later VP, Exploration
where he was involved in gold and base metal exploration on
numerous projects in the Abitibi region of Quebec. This was highlighted by Aur's
discovery of the Louvicourt Copper-Zinc VMS deposit in Val d'Or in 1989. Subsequently, he initiated a
base metal exploration program for Aur in Maine and New
Hampshire. Prior to joining Aur, he was involved in base
metal exploration in the NWT with Kidd Creek Mines Ltd. where he
participated in the discovery of the Gondor VMS deposit in 1982.
Since 1995, Mr. Bubar has been President and Chief Executive
Officer of Avalon Advanced Materials Inc. (formerly Avalon Rare
Metals Inc.), a mineral development company with a primary focus on
technology metals, including lithium, tin, indium and rare earths.
He also now serves as Chairman of the Board of Imperial Mining
Group, a mineral development company with assets in northern
Quebec.
Mr. Bubar served as a Director of the Prospectors and Developers
Association of Canada (PDAC) for
nine years and Chair of its Aboriginal Affairs Committee from its
creation in 2004 until retiring from the PDAC Board in 2013. He
also serves on the Advisory Board to the Faculty of Science of
McGill University and on the Board of
Directors of Mining Matters, a not-for-profit organization founded
by PDAC to promote geoscience education and mineral industry
awareness to grade school students in Canada.
John Seaman - Mr. Seaman
is President and Chief Executive Officer of Apex Investigation and
Security Inc., a large privately owned security company. He is a
director and Chair of the Audit Committee of Premier Gold Limited
since May 2006 and was Chief
Financial Officer of Premier Gold Mines Limited from August 2006 to June
2012 and was the CFO of Wolfden Resource Inc. from 2002
until it was taken over in 2007. Mr. Seaman was previously
director and/or officer of other small-cap public companies and is
an ICD.D member of the Institute of Corporate Directors.
About Wolfden
Wolfden is a Canadian exploration and development company
focused on advancing its wholly owned high-grade (Zn, Pb, Cu, Ag)
VMS Pickett Mountain Project in Maine,
USA. Located close to excellent infrastructure, the company
plans to complete sufficient exploration, definition drilling and
various technical studies in order to demonstrate the economic
potential for an underground mining scenario on the Project.
Cautionary Statement Regarding Forward-Looking
Information
This news release contains certain information that may
constitute forward-looking information or forward-looking
statements under applicable Canadian and United States securities legislation
(collectively, "forward-looking information"), including but not
limited to information about future drilling activities at the
Pickett Mountain Project; the timing and completion of an
anticipated mineral resource estimate and technical studies at
the Pickett Mountain Project; and the scope of and
the anticipated effect of new mining legislation in Maine. This forward-looking information
entails various risks and uncertainties that are based on current
expectations and actual results may differ materially from those
contained in such information. These uncertainties and risks
include, but are not limited to, the strength of the global
economy; the price of base metals and minerals generally;
operational, funding and liquidity risks; the degree to which
mineral resource estimates are reflective of actual mineral
resources; the degree to which factors which would make an
underground mineral deposit commercially viable are present; the
risks and hazards associated with mineral exploration and mining
operations; and the ability of Wolfden to fund its substantial
capital requirements and operations. Risks and uncertainties about
the Company's business are more fully discussed in the Company's
disclosure materials filed with the securities regulatory
authorities in Canada available at
www.sedar.com. Readers are urged to read these materials. Wolfden
assumes no obligation to update any forward-looking information or
to update the reasons why actual results could differ from such
information unless required by law.
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.
SOURCE Wolfden Resources Corporation