THUNDER BAY, ONTARIO–(Marketwired – April 10, 2014) – Mega Precious Metals
Inc. (TSX VENTURE:MGP) (“Mega”) announces the appointment of Daniel Racine to
the Board of Directors. Daniel is a Professional Engineer and was President and
Chief Operating Officer of Brigus Gold until Brigus was taken over by Primero
Mining in March 2014. Prior to this Mr. Racine was Senior Vice President Mining
of Agnico-Eagle Mines Limited where he was responsible for Agnico-Eagle’s global
mining operations. Mr. Racine joined Agnico-Eagle as a junior Mining Engineer in
1988 and took on progressively senior roles, including LaRonde Mine Manager,
Vice-President Operations Manager, and Senior Vice President Operations. During
Mr. Racine’s 24 years with Agnico-Eagle, the company grew from a market
capitalization of $300 million with two small operating mines to a global mining
leader with a market capitalization of $6.4 billion with five large mines in
three countries. Mr. Racine has a Bachelor degree in Mining Engineering from
Laval University. He is a registered engineer in Quebec (IEng) with L’Ordre des
Ingenieurs du Quebec, a professional engineer (PEng) with the Professional
Engineers Ontario and also a member of the Ontario Society of Professional
“Daniel’s skill set as a mine builder will add significant value to our
Monument Bay Project and assist us through the transition process from becoming
an advanced explorer to a developer,” commented Mario Stifano, Chairman of Mega.
“We are delighted to have such an esteemed and well known mining executive join
our team, Daniel’s expertise and knowledge will definitely assist us in
advancing our flagship Monument Bay Project to development.”
In addition to his appointment, Mr. Racine has been granted 300,000 stock
options with an exercise price of $0.165 vesting immediately.
Mega Precious Metals Inc. is a leading Canadian-based exploration company
with a high quality pipeline of projects located in the mining friendly
jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company’s
significant portfolio includes the flagship Monument Bay Gold Tungsten Project
in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining
district of Red Lake, Ontario. Mega has established a record of delivering rapid
growth through their focused and low cost approach to exploration and resource
development. The Company’s common shares trade on the TSX Venture Exchange under
the symbol MGP.
For further information and presentation material, please review the Mega
website at www.megapmi.com.
Certain statements in this press release relating to the completion of the
Tranche 1 Financing and the completion of the Offering are “forward-looking
statements” within the meaning of securities legislation. The Company does not
intend, and does not assume any obligation, to update these forward-looking
statements. These forward-looking statements represent management’s best
judgment based on current facts and assumptions that management considers
reasonable. The Company makes no representation that reasonable business people
in possession of the same information would reach the same conclusions.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. In
particular, fluctuations in the price of gold or in currency markets could
prevent the Company from achieving its targets. Readers should not place undue
reliance on forward-looking statements. More information about risks and
uncertainties affecting the Company and its business is available in Mega
Precious Metal’s filings which are posted on sedar at www.sedar.com.
Neither 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.
Mega Precious Metals Inc.
Glen Kuntz, P.Geo.
President, Chief Executive Officer & Director
O: 807-766-3380 or TF: 877-592-3380