|By Marketwired .||
|April 1, 2014 09:30 AM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/01/14 -- Metallis Resources Inc. (TSX VENTURE:MTS) (the "Company" or "Metallis Resources") is pleased to announce the formation of an Advisory Council. The Company has appointed two distinguished individuals as the initial members of its Advisory Council, to provide strategic guidance and insight to assist the Company on the exploration of its Kirkham Property, located in the Golden Triangle in Northwestern British Columbia.
Mr. Roulston is a mining analyst and past mining company executive with more than 35 years of resource industry experience. Since 1998, he has been a mining analyst and consultant, as well as the editor of Resource Opportunities, an independent investment publication focused on the mining industry. Mr. Roulston holds a BSc in geology, and has additional training in engineering and business from the University of British Columbia. He began his mining career as an analyst with a major mining company, and then went on to management positions with mid-tier and junior resource companies, including the CEO role of an exploration company. He has had direct contact with hundreds of exploration and mining projects in 40 countries around the world. His experience includes managing the re-development of a mining operation in northwest BC and overseeing exploration projects in the Golden Triangle area of northwestern BC.
Mr. Idziszek holds a Master of Applied Sciences degree from McGill University and has worked as an exploration geologist and exploration executive with numerous international mining companies for over 40 years. He has been recognized by his industry peers for his central role in the discovery and development of the Eskay Creek gold deposit in Canada, being designated "Mining Man of the Year" in 1990 and "Prospector of the Year" in 1994. He has also been recognized for his leadership of Adrian Resources Ltd. during its exploration and development of the Petaquilla copper-gold-silver-molybdenum deposits in Panama (First Quantum Minerals Ltd.'s Cobre Panama deposit). He was a director of Arequipa Resources Ltd. which discovered the Pierina gold deposit subsequently acquired by Barrick Gold Corp. in 1996 for Cdn $1.1 billion. Since 2005 his principal focus was Oromin Explorations Ltd. and its joint venture on the OJVG Gold Project in eastern Senegal. On October 4, 2013, Teranga Gold Corporation completed the acquisition of all the issued and outstanding shares of Oromin Explorations Ltd. by way of a takeover bid.
"We are honoured to have these distinguished gentlemen join us. Mr. Roulston's deep knowledge and extensive background in geology and Mr. Idziszek's expertise and success in the Golden Triangle will greatly assist Metallis in the exploration of its Kirkham Property which is just 20km southwest of the Eskay Creek mine," stated Fiore Aliperti, Metallis Resources, CEO and President.
Further, the Company also announces a non-brokered private placement consisting of up to 3,000,000 million shares at a price of $0.13 cents per share for gross proceeds of up to $390,000. There will be no warrants issued with this private placement. Any finder's and/or agent's fees will be paid in accordance with the policies of the TSX-V Exchange via cash and/or shares of the Company. Proceeds from this private placement will be used for the 2014 exploration program on the Kirkham Property in Northwestern British Columbia and for general working capital. The private placement is subject to TSX-V approval.
On behalf of the Board of Directors:
Chief Executive Officer, President and Director
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.
Metallis Resources Inc.