Toronto, Ontario--(Newsfile Corp. - October 15, 2019) - HARTE GOLD CORP. (TSX: HRT) (OTC Pink: HRTFF) (FSE: H4O) ("Harte Gold" or the "Company") is pleased to announce the addition of Joseph Conway and James Gallagher to the Board of Directors (the "Board") of Harte Gold. Mr. Conway will also assume the position of Chair of the Audit Committee.
Pursuant to the press release announced August 28, 2019, part of the Governance Committee's mandate was to identify two independent director candidates. The focus was on candidates who will provide operational experience, financial acumen and corporate leadership to help guide the continued ramp-up of the Sugar Zone mine. After completing an in-depth review of potential candidates, the Governance Committee unanimously agreed on its recommendations to the Board. The Company is pleased to welcome both Joseph Conway and James Gallagher to the Board of Directors of Harte Gold.
Mr. Conway, B.Sc., MBA, has 30 years of executive leadership and financial industry experience. Mr. Conway previously served as President and CEO of Primero Mining prior to its acquisition by First Majestic Silver Corp. in 2018. Prior to that, Mr. Conway was President and CEO of IAMGOLD from 2003 to 2010. During this period, Mr. Conway led IAMGOLD through its transformation from a junior joint venture company to a $6 billion leading mid-tier gold producer. During his executive leadership, Mr. Conway has been involved in strategic development including mergers and acquisitions, corporate restructurings and accessing the capital markets for over US$1.2 billion in debt and equity.
Mr. Gallagher, B.Eng. is a seasoned mining executive and Professional Engineer with a 35-year track record of optimizing operational performance, leading successful projects and consulting with global scope. Mr. Gallagher is currently the President and CEO of North American Palladium Ltd. ("NAP"). Since joining NAP, Mr. Gallagher rebuilt the senior management team, introduced advanced technologies and mining methods at the Lac des Illes Mine and achieved an operational and financial turnaround within two years that made the Lac des Illes Mine one of the largest underground mines in Canada, culminating in the recently announced sale of NAP for $1 billion to Impala Platinum. Prior to NAP, Mr. Gallagher spent 24 years with Falconbridge Inc., in a variety of operational and project management roles and eight years as Global Director of Mining for Hatch, leading one of the largest mining EPCM teams in North America. Mr. Gallagher currently serves on the Board of the Ontario Mining Association.
Board Renewal and Management Update
Pursuant to the Board Renewal plan, Richard Faucher has resigned from the Board. The focus is now on completion of the President and CEO search. Several high-quality candidates have been identified and the Company will provide further updates once a decision has been made.
About Harte Gold Corp.
Harte Gold is Ontario's newest gold producer through its wholly owned Sugar Zone Mine in White River Ontario. Using a 3 g/t gold cut-off, the NI 43-101 compliant Mineral Resource Estimate dated February 19, 2019 contains an Indicated Mineral Resource of 4,243,000 tonnes grading 8.12 g/t Au with 1,108,000 ounces contained gold and an Inferred Mineral Resource of 2,954,000 tonnes, grading 5.88 g/t Au with 558,000 ounces contained gold.
A NI 43-101 compliant Feasibility Study was completed on the Sugar Zone Mine effective February 15, 2019 calculating total Reserves of 3,879,000 tonnes grading 7.1 g/t Au with 890,000 ounces of gold. Exploration continues on the Sugar Zone Property, which encompasses 79,335 hectares covering a significant greenstone belt.
For further information, please contact:
Stephen G. Roman
Chairman and Interim CEO
Vice President, Corporate Development
This news release includes "forward-looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Such risks and uncertainties include, but are not limited to, there being no events of default or breaches of key financing agreements, including agreements with BNP Paribas and Appian; the Company being able to attract and retain qualified candidates to join the Company's management team and Board, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by the Company. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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