QUEBEC, QUEBEC–(Marketwired – Oct. 4, 2017) – Stelmine Canada Ltd. (« Stelmine ») (TSX VENTURE:STH) is pleased to announce the appointment of Mr. Michel Boily and Mr. Normand Goulet to the Board of Directors as geologists specialized in geochemistry, metallogeny and structural geology. Since April 2017, these specialists provided strong expertise in the support of Stelmine exploration program and are actively involved in the Courcy project. Their scientific and technical knowledge will be of the utmost importance in the Company’s future strategic planning following the results obtained from Stelmine exploration campaigns carried out in the eastern segment of the Opinaca sedimentary basin.
Dr. Boily is an expert geochemist and metallogenist specializing in the interpretation of precious and rare metal deposits in Precambrian volcano-plutonic terranes for the last 25 years. Prior to consulting for the mining industry and government agencies, Dr. Boily was involved as a research associate at MERI/McGill in the study of several rare metals deposits located in the Quebec province; notably the Strange-Lake deposit in Labrador (Zr, Y, REE), the St-Honoré mine in the Saguenay area (Nb, REE) and the Québec Lithium Mine in the Abitibi Greenstone Belt (Li). Since 1992, Dr. Boily has conducted exploration and technical evaluation of gold, base metals and rare metal properties located in Archean greenstone belts and the Grenville Province of Quebec, in the Anti-Atlas Proterozoic windows of Morocco, Northern Mexico, Argentina and Nicaragua. Dr. Boily graduated from the Université de Montréal in 1988 with a PhD in geochemistry and carried out post-doctoral studies at the University of Chicago. Since 1984, Dr. Boily has been the author of various publications in international scientific journals and has written numerous technical reports. Dr. Boily is currently a registered Professional Geologist in good standing with l’Ordre des Géologues du Québec.
Dr. Normand Goulet (Bsc, Université de Montréal; DEA and Doctorate, Université de Grenoble, France and PhD, Queen’s University, Kingston) is a full tenured professor in geology at the Université du Québec, Montréal. Dr. Goulet brings a vast expertise in the domain of structural geology, tectonics, deformation of metalliferrous deposits and petrology. He has over forty years of experience managing teams of geologists working for government or private agencies in Canada or abroad. In particular, Dr. Goulet carried out geological studies on the metasedimenary Opinaca basin and participated to the initial exploration work on the Courcy property. Professor Goulet directed several research projects on gold (Abitibi, Dominican Republic, Maroc, Mali), nickel (New Caledonia, Ivory Coast, Albania, James Bay), uranium (Otish and Torngat Mtns.), diamond (Torngat) and on polymetallic mineralization (Nunavut). He further participated in mapping and the completion of a new geological and metallogenic map of Mali.
Stelmine is proud to welcome Messrs. Boily and Goulet on their current team and is convinced they will play an active role in the Company’s management.
Furthermore, the Company reports Mr. Hugo Gagné will leave his position as a member of the Board of Directors. M. Gagné will still be involved in Stelmine as an occasional adviser to the Management. The management wants to express his gratitude to Mr. Gagné for his implication over the last year.
Stelmine also announces granting, as of October 3rd 2017, 350,000 stock options to his employees, management, directors and consultants at an exercised price of 0.30 $ per share, including 60,000 options to be exercised within the next 12 months and 290,000 within the next 60 months, conditional on TSX Venture Exchange approval.
Stelmine is a junior mining exploration company and its activities are located in the Province of Québec. Stelmine holds 754 claims spanning 383 km2 on the eastern part of the Opinaca metasedimentary basin, which contains zones with a high potential for gold deposit discovery in geological contexts similar to the one leading to discovery of the Éléonore Mine. Its capital stock consists of 21,926,452 issued and outstanding shares for a current market capitalization of $6.6 million.
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Stelmine and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications or statements made by Stelmine. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements.
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.
President and CEO