Margaux Resources Strengthens Management Team with Appointment of Vice-President, Exploration
CALGARY, February 6, 2017: Margaux Resources Ltd. (TSX VENTURE:MRL, OTCQB:MARFF) ("Margaux" or the "Company") is pleased to announce the appointment of Linda Caron as Vice-President, Exploration effective February 6, 2017. "Margaux is very pleased with the appointment of Linda as our VP Exploration. With her extensive experience in the B.C. region, Linda will provide insightful technical advice for our properties' future development, as well as moving our historic resources towards NI 43-101 status," stated Tyler Rice, President and CEO. "Linda's regional experience and widely recognized knowledge of the geology and deposits in the area adds a dimension that Margaux will greatly benefit from, and will assist in our regional consolidation plan."
Ms. Caron has over 30 years of national and international experience in the mining industry. Since 1997 she has worked as a geological consultant on multiple projects for junior mining companies, small-scale producers and majors. Most recently, she has acted as Project Manager for several large mineral exploration projects in southern B.C., with a primary focus on gold, including Kinross Gold Corp.'s Grizzly Greenwood project and Ximen Mining Corp.'s Brett Gold project.
She has worked extensively in the Boundary district of southern B.C. and northern Washington and is widely recognized for her knowledge of the geology and deposits in the area. Ms. Caron graduated from the University of British Columbia in 1985 with an honors degree in geological engineering and obtained a master's degree in geological sciences from the University of Calgary in 1988.
Ms. Caron will be replacing Mr. Richard Kilpatrick who will be stepping down from his role as VP Exploration. Mr. Kilpatrick contributed greatly to the Company's exploration program on its Jersey-Emerald property and in positioning Margaux as a regional consolidator in the Kootenay Arc.
Jim Letwin, Chairman of the Board, commented, "We want to thank Richard for his time at Margaux and his efforts in developing and executing the Company's exploration programs. We wish him all the best in his future endeavors."
In addition, Margaux wishes to announce that it has granted 175,000 common share purchase options to Ms. Caron in accordance with the Company's shareholder-approved stock option plan. The stock options are exercisable at a price of $0.315 per share, expire in five years, and vest over a period of three years, with 1/3 of the options vesting immediately, and 1/3 vesting at the end of each the first and second anniversary of the date of grant.
Finally, Margaux is pleased to announce that it has retained Mr. Todd Keast as a consulting geologist to assist with the exploration and development work on Margaux's properties. Mr. Keast has over 25 years of experience in a diverse field of commodities. Since 2014 he has worked as a consulting exploration geologist for multiple companies. Prior to that, he was President and CEO of Manitou Gold Inc., a start-up mining exploration company in Ontario. Mr. Keast graduated from the University of Manitoba in 1987 with an honors degree in geology.
About Margaux Resources Ltd.: Margaux is a publicly traded polymetallic exploration company focused on the exploration and development of previously producing properties in the Kootenay Arc, located in southeastern British Columbia, including the Jackpot/Oxide, Jersey-Emerald, Sheep Creek and Bayonne properties, on which Margaux has options. The Company is directed by a group of highly successful Canadian business executives with proven track records. Margaux trades on the TSX Venture Exchange under the symbol MRL and on the OTCQB under the symbol MARFF.
Forward Looking Statements
This press release may contain forward looking statements including those describing Margaux's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Margaux and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to Margaux's exploration programs and regional consolidation plans. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Tyler Rice
President, CEO and a Director
(403) 537-5590
tyler@margauxresources.com
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