VANCOUVER, BRITISH COLUMBIA, May 26, 2015 (Marketwired via COMTEX) — IDM Mining Ltd. (IDM) ("IDM" or the "Company") is pleased to announce that it has appointed Harry Pokrandt and Glen Masterman to an Advisory Board of the company.
"We are excited to have two accomplished and notable leaders in the Canadian mining industry join our team," said Michael McPhie, Executive Chairman of IDM Mining.
"Glen and Harry have significant experience in mining finance, public markets and advanced project exploration and development," said Rob McLeod, President and CEO of IDM Mining. "We are looking forward to their contribution as we advance the high-grade Red Mountain underground gold project through the permitting process and towards a positive construction decision."
Mr. Pokrandt and Mr. Masterman will assist and advise IDM Management and the Board of Directors on financial and technical matters, respectively.
Glen Masterman
Most recently, Glen Masterman served as Senior Vice-President, Exploration for Kinross Gold Corporation ("Kinross"), where he managed global exploration activities and led teams on a number of important new, near-mine discoveries in Kinross' regions of operation. As head of exploration, Glen significantly enhanced Kinross' strength in global exploration and was ultimately responsible for delivering programs to replenish annual gold production. Glen also oversaw exploration at the Tasiast mine in Mauritania which resulted in a major resource expansion and additional discoveries. Prior to Kinross, Glen was General Manager, Exploration for Bolnisi Gold, an Australian company that discovered and developed the Palmarejo silver and gold mine in northern Mexico. He commenced his career in 1994 with WMC Resources and later joined Goldfields Exploration Ltd and Placer Dome Asia Pacific. Glen graduated with a B.Sc.(Honours) from the University of Melbourne and earned his PhD from the University of Tasmania.
Harry Pokrandt
Harry recently retired as Managing Director for a major international investment banking firm, leading its Metals & Mining Group at its Vancouver office. Harry was previously involved with resource-focused investment bank boutique Orion Securities Inc., where he worked in Institutional Sales for over 20 years. Since then, Harry has worked on numerous financing and advisory assignments in the metals and mining sector.
ABOUT RED MOUNTAIN
IDM Mining is currently earning an option to acquire a 100% interest in the 17,125 hectare Red Mountain property, located 15 kilometers northeast of Stewart, BC. Numerous precious and base metal targets have been identified by IDM and previous operators over a 15 km by 4 km trend of strong alteration and mineralized prospects. Since discovery in 1989, in excess of $40 million has been spent on the Project including a production sized underground ramp.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is a mineral exploration company (IDM) based in Vancouver, BC, Canada. The Company's current exploration activities are focused on precious metals in British Columbia. Further information can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD
of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to proposed exploration and development activities and their timing, resource estimates and potential mineralization, the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries, mine life, estimated payback period and net present values, opportunities to enhance the value of the Red Mountain Project and other plans and objectives of IDM. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere in this release, delays in obtaining or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing other development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of future exploration and development activities, exploration and development risks, mineral resources are not as estimated, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: required approvals, permits and financing will be obtained; the proposed exploration and development will proceed as planned; with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated, and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, and market fundamentals will result in sustained metals and minerals prices. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Contacts:
IDM Mining Ltd.
Robert McLeod
604-681-5672 direct or 604-617-0616 cell
[email protected]
www.IDMmining.comSOURCE: IDM Mining Ltd.
Original Article: http://www.idmmining.com/_resources/news/150526.pdf
