TORONTO, Ontario, August 10, 2016 - Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce the appointment of two new members to its Board of Directors: Mr. William M. (Bill) Shaver and Ms. Elizabeth A. Wademan.
Terry MacGibbon, Chairman of the Board stated: “We are very fortunate that these two outstanding professionals of extensive global mining expertise as corporate executives, are joining our Board. Bill Shaver brings deep operational, technical and international experience which was acquired over a long career in the mine contracting industry. His passion for safety and support to the younger generations of mining professionals is a testament to his commitment to the industry. Elizabeth Wademan brings extensive experience with investment banking and capital markets for the global metals and mining sector, which she acquired through increasingly senior roles during her 18 years at BMO Capital Markets. On behalf of the Torex team, I welcome Bill and Elizabeth in the certainty that their operational and capital markets talents will strengthen this Board as we continue to position Torex as the preferred emerging mid-tier gold producer.”
William M. (Bill) Shaver P. Eng.
Is a seasoned senior mining executive with over 40 years of expertise in mine construction and operations. His early experience includes Teck, Eldorado Nuclear, New Quebec Raglan, Falconbridge and the Redpath Group working on many projects in roles of increasing responsibility. He was one of the founders of Dynatec Corporation which became one of the leading contracting and mine operating groups in North America. More recently, Mr. Shaver was the COO of FNX Mining and the President and CEO of DMC Mining Services. Mr. Shaver served as the Chair of the Board Workplace Safety North since its inception in 2009 to 2015. He also sponsors scholarships for Masters and Doctorate students working in the safety area at Laurentian University. Mr. Shaver was recognized as the Ernst and Young Entrepreneur of the Year in 2013 for his devotion to bringing innovation to the mining industry. Mr. Shaver is a Professional Engineer who graduated with a Bachelor of Science in Mining Engineering from Queens University in Kingston. He is also a graduate of the Haileybury School of Mines.
Is a senior capital markets professional with over 20 years of financial services experience. Ms. Wademan spent 18 years in investment banking at BMO Capital Markets, where she focused on the Global Metals and Mining and Technology sectors and was responsible for Mining Equity Capital Markets. As a former Managing Director in Equity Capital Markets, Ms. Wademan has extensive experience in capital markets advisory and investment banking, in both domestic and international markets, as well as in commodities and securities. She obtained her Bachelor of Commerce (Finance and International Business) from McGill University, is a CFA charterholder and a member of the Institute of Corporate Directors.
Torex is an emerging intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. Within this property, Torex has the El Limón Guajes Mine, which announced commercial production in March of 2016 and the Media Luna Project, which is in an advanced stage of exploration, and for which the Company issued a preliminary economic assessment (PEA) in 2015. The property remains 75% unexplored.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to the Company becoming a intermediate gold producer. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including those risk factors identified in the Company’s annual information form and management’s discussion and analysis. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not undertake to update any forward-looking statement, except in accordance with applicable securities laws.