Revival Gold
Inc. (TSXV: RVG,
OTCQX: RVLGF) (“Revival Gold” or
the “Company”), is pleased to announce the appointment of Larry P.
Radford to the Company’s Board of Directors, with immediate effect.
Mr. Radford brings over 35 years of leadership
and operational experience in the mining industry. Most recently,
Mr. Radford served as President & CEO, and Director of Argonaut
Gold Inc., where he led the 200,000 ounce per year gold producer
and oversaw a turn around of the Magino Project in Ontario, Canada.
Previously, Mr. Radford served as COO of Gold Standard Ventures
Corp., where he led development of the South Railroad Project in
Nevada, USA. Before Gold Standard Ventures, Larry held the role of
Sr. VP & COO of Hecla Mining Company (“Hecla”) where he managed
the operating portfolio of underground mines, including the Lucky
Friday mine in Idaho, USA, the Greens Creek mine
in Alaska, USA, the Casa Berardi mine, in Quebec, Canada
and the San Sebastian mine in Durango,
Mexico.
Prior to his role at Hecla, Mr. Radford
held roles of increasing responsibility with Kinross Gold
Corporation from 2007 through 2011, including Vice President &
General Manager of the Fort Knox mine in Alaska, USA, Vice
President of Strategic Mine Planning and Vice President of South
American Operations. Mr. Radford worked with Barrick Gold
Corporation from 1989 to 2007, including 14 years at the Goldstrike
mine in Nevada, USA, two years at the Tambo mine
in Chile and two years as General Manager of the Cowal
mine in New South Wales, Australia.
Mr. Radford is a second-generation miner who
began his mining career in 1984 with Coeur D'Alene Mines
Corporation. He has received a Bachelor of Science in Mining
Engineering from the University of Idaho and an MBA from
the University of Alaska. He is a member of AIME and a registered
Professional Engineer in Idaho.
“We are thrilled to welcome Larry as an
independent director to Revival Gold’s board. Larry’s extensive
leadership experience and operating background in underground and
open pit gold mining, as well as heap leach and mill processing,
will be invaluable to Revival Gold as we transition from
explorer-developer to developer-operator”, said President and CEO
Hugh Agro.
Mr. Radford joins current directors Wayne Hubert
(Non-Executive Chairman), Hugh Agro, Robert Chausse, Maura Lendon,
Michael Mansfield, and Tim Warman effective immediately. In
connection with Mr. Radford’s appointment, Don Birak has stepped
off Revival Gold’s board and transitioned to a senior advisory role
with the Company.
“Don is one of Revival Gold’s founding directors
and was instrumental to the Company’s success in assembling the
Beartrack-Arnett project and making what amounts to the second
largest new discovery of gold in the United States in the past
decade”, said Mr. Agro.
“Don’s critical eye, keen sense of curiosity and
unwavering support for exploration and mining in Idaho are
hallmarks of his involvement in Revival Gold that will live on in
the Company”, said Mr. Agro. “On behalf of our entire management
team and the board, I wish to thank Don for his past dedication and
service and to say that we look forward to his continued
involvement as a senior technical advisor to the Company”, Agro
added.
Subject to regulatory approval, Revival Gold has
granted Mr. Radford 125,000 incentive stock options in connection
with his appointment. Pursuant to the Company’s Stock Option Plan,
the options are exercisable at a price of $0.60 each for a period
of five years and are subject to vesting provisions.
About Revival Gold
Revival Gold is a growth-focused gold
exploration and development company. The Company is advancing the
Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing
gold mine in Idaho. The project benefits from extensive
existing infrastructure and is the subject of a recent Preliminary
Feasibility Study for the potential restart of open pit heap leach
gold production operations.
Since reassembling the Beartrack-Arnett land
position in 2017, Revival Gold has made one of the largest new
discoveries of gold in the United States in the past decade. The
mineralized trend at Beartrack extends for over five kilometers and
is open on strike and at depth. Mineralization at Arnett is open in
all directions.
Additional disclosure including the Company’s
financial statements, technical reports, news releases and other
information can be obtained at www.revival-gold.com or on
SEDAR at www.sedar.com.
For further information, please contact Hugh
Agro, President & CEO or Melisa Armand, Investor Relations.
Telephone (416) 366-4100 or email info@revival-gold.com.
Cautionary Statement
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 news release.
This press release includes certain
"forward-looking information" within the meaning of Canadian
securities legislation and “forward-looking statements” within the
meaning of U.S. securities legislation (collectively
“forward-looking statements”. Forward-looking statements are not
comprised of historical facts. Forward-looking statements include
estimates and statements that describe the Company’s future plans,
objectives or goals, including words to the effect that the Company
or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as
“believes”, “anticipates”, “expects”, “estimates”, “may”, “could”,
“would”, “will”, or “plan”. Since forward-looking statements are
based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Although these statements are based on information currently
available to the Company, the Company provides no assurance that
actual results will meet management’s expectations. Risks,
uncertainties, and other factors involved with forward-looking
statements could cause actual events, results, performance,
prospects, and opportunities to differ materially from those
expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, the Company’s objectives, goals and future plans,
and statements of intent, the implications of exploration results,
mineral resource/reserve estimates and the economic analysis
thereof, exploration and mine development plans, timing of the
commencement of operations, estimates of market conditions, and
statements regarding the results of the pre-feasibility study,
including the anticipated capital and operating costs, sustaining
costs, net present value, internal rate of return, payback period,
process capacity, average annual metal production, average process
recoveries, concession renewal, permitting of the project,
anticipated mining and processing methods, proposed pre-feasibility
study production schedule and metal production profile, anticipated
construction period, anticipated mine life, expected recoveries and
grades, anticipated production rates, infrastructure, social and
environmental impact studies, availability of labour, tax rates and
commodity prices that would support development of the Project.
Factors that could cause actual results to differ materially from
such forward-looking statements include, but are not limited to
failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to maintain the
modelling and assumptions upon which the interpretation of results
are based after further testing, the inability to complete a
feasibility study which recommends a production decision, the
preliminary nature of metallurgical test results, delays in
obtaining or failures to obtain required governmental,
environmental or other project approvals, changes in regulatory
requirements, political and social risks, uncertainties relating to
the availability and costs of financing needed in the future,
uncertainties or challenges related to mineral title in the
Company’s projects, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity and in particular gold
prices, delays in the development of projects, capital, operating
and reclamation costs varying significantly from estimates, the
continued availability of capital, accidents and labour disputes,
and the other risks involved in the mineral exploration and
development industry, an inability to raise additional funding, the
manner the Company uses its cash or the proceeds of an offering of
the Company’s securities, an inability to predict and counteract
the effects of COVID-19 on the business of the Company, including
but not limited to the effects of COVID-19 on the price of
commodities, capital market conditions, restriction on labour and
international travel and supply chains, future climatic conditions,
the discovery of new, large, low-cost mineral deposits, the general
level of global economic activity, disasters or environmental or
climatic events which affect the infrastructure on which the
project is dependent, and those risks set out in the Company’s
public documents filed on SEDAR. Although the Company believes that
the assumptions and factors used in preparing the forward-looking
statements in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, other than as required by
law.
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