Jun 04, 2014
Argentum Appoints Mike Petrina and David Bo to Board of Directors
Vancouver, B.C., Canada — June 4, 2014 – Argentum Silver Corp. (ASL: TSX-V or the "Company") is pleased to announce the appointments of Mike Petrina and David Bo to the Board of Directors of the Company (the "Board").
Mike Petrina, P. Eng., is a professional mining consultant who brings over 25 years of experience in operations, engineering, mine development, financial modeling and acquisition analysis, and is a past technical advisor and engineering consultant for numerous mining companies. Mr. Petrina has held previous positions as COO of Probe Mines Limited, VP Operations for MAG Silver Corp., VP Mining for Hawthorne Gold Corp. and has also held senior operations positions with Adanac Molybdenum Corporation and Pan American Silver Corporation. Mr. Petrina graduated from the mining engineering program at Queen's University, is registered in British Columbia as a Professional Engineer, and holds an MBA from the University of Athabasca.
David Bo has 25 years of experience in the resource sector. He started his career at PetroChina, the largest integrated oil & gas company in Asia. In 1996, Mr. Bo joined the Ivanhoe Group and assumed various positions including Business Development Manager at Sunwing Energy Ltd. (a wholly-owned subsidiary of Ivanhoe Energy Inc.), Senior Business Manager at Jinshan Gold Mines Inc. (now China Gold International) and then General Manager, Business Development of Ivanhoe Capital Corporation. During his tenure at Ivanhoe, Mr. Bo took the lead or was heavily involved in business development, project management, legal affairs, joint ventures, corporate financings, government and partner relations. Mr. Bo brings first-hand experience in corporate development, financing, investment banking, joint ventures and project management to the Board. Mr. Bo was also a Director of Abra Mining Limited, an Australian non-ferrous metals explorer, Ferrous Resources Limited, an Isle of Man company focused on iron ore development in Brazil, Executive Chairman of TSX Venture-listed China Minerals Mining Corporation, and Huakan International Mining Inc. while it was listed on the TSX Venture Exchange. Mr. Bo holds both his Bachelors and Masters in Engineering from China University of Petroleum.
"I would like to welcome both Mr. Petrina and Mr. Bo to our Board of Directors and the Argentum team. Both Mike and David bring a deep understanding of the resource sector, including engineering, corporate finance, and project development," commented Peter A. Ball, President & COO of Argentum Silver. "As we push forward on the resource development program at our 100% owned Coyote Project in Jalisco State, Mexico, Mike and David will play key roles in assisting the Company advance the project to a potential production decision by late 2015."
Board Approves Advance Notice Policy
The Company also announces that the Board approved an advance notice policy (the "Advance Notice Policy") on May 29, 2014. The Advance Notice Policy includes, among other things, a provision that requires advance notice be given to the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (British Columbia) (the "Act"); or (ii) a shareholder proposal made pursuant to the provisions of the Act.
Additionally, the Advance Notice Policy sets a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders, sets forth the information that a shareholder must include in the notice to the Company, and establishes the form in which the shareholder must submit the notice for that notice to be in proper written form.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 days nor more than 65 days prior to the date of the annual meeting. However, in the event that the annual meeting is to be held on a date that is less than 40 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the tenth (10th) day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting) notice to the Company must be made not later than the close of business on the fifteenth (15th) day following the day on which the first public announcement of the date of the special meeting was made.
The Advance Notice Policy is in full force and effect as of the date it was approved. In accordance with the terms of the Advance Notice Policy, the Advance Notice Policy will be put to shareholders of the Company for approval at its next shareholders meeting, and if the Advance Notice Policy is not confirmed at such meeting by ordinary resolution of shareholders, the Advance Notice Policy will terminate and be of no further force and effect following the termination of such meeting.
The full text of the Advance Notice Policy is available under the Company's profile on SEDAR at www.sedar.com.
About the Coyote Silver Project
The 1,053 hectare Coyote Project has an Inferred Mineral Resource estimate (the "Resource") under National Instrument 43-101 ("NI 43-101") on one vein system known as the El Tajo vein at the Coyote Silver Project in Jalisco State, Mexico as part of an independent report (the "Report") prepared by GeoVector Management Inc. ("GeoVector"). At a cut-off of 70 grams per tonne (g/t) silver (Ag), GeoVector estimates a Resource of 583,000 tonnes grading 192 g/t Ag and 0.27 g/t gold (Au). This equates to a 207 g/t AgEq* grade. The Resource contains a total of 3,600,000 ounces silver and 5,053 ounces of gold. The resource is open along strike and down dip. (*Silver-equivalent was determined using a silver to gold ratio of 56.1:1 assuming a 100% recovery rate, and no base metal values were included in the silver-equivalent.)
At the Coyote Project, seven different vein systems have been discovered totaling close to seven kilometres of combined strike length. The Resource is currently contained on the El Tajo Vein. In 2012, the Company drill tested the El Tajo silver vein to a depth of approximately 100 meters over a 600 metre strike length with 25 diamond drill holes for a total of 3,013 metres. Since the initial drill program, the El Tajo Vein's strike on surface has been extended to approximately 1.1 kilometres.
The Coyote Project contains dozens of individual intermediate sulfidation epithermal silver-gold veins and stockwork. Most of the mineralization occurs within seven defined zones within an area of approximately 1.5 x 2.6 kilometres. Vein widths typically range from 1.0 to over 5.0 metres. Surface exposures of stockworking have been mapped and sampled over widths exceeding 35 metres.
The Coyote project is located near the town of Chilacayote, within the state of Jalisco, Mexico. Road access and infrastructure are excellent. The property is approximately 150 kilometres southwest of the capital city of Guadalajara, roughly a 3½ hour drive. Topography is generally gentle to moderate. A regional electrical power line crosses the property.
Ben Whiting, P.Geo., a Director of the Company and a Qualified Person as defined under NI 43-101, has approved the technical information in this news release.
About Argentum Silver
Argentum holds 100% interest in the Coyote and Victoria properties located in Jalisco, Mexico, and the Lachiguiri and Silacayoapan properties located in Oaxaca, Mexico. For further information, please go to www.argentumsilvercorp.com.
On behalf of the Board of Directors of Argentum Silver Corp.
"Peter A. Ball"
Peter A. Ball
President & COO
Argentum Silver Corp.
For further information please contact:
Peter A. Ball
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.
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.