Corvus Gold Inc. Announces the Appointment of Management & Directors
Vancouver, B.C........Corvus Gold Inc. ("Corvus" or the "Company") - (TSX: KOR) is pleased to announce the appointment of the following directors and management, effective August 25, 2010. Directors include: Jeffrey Pontius (Chairman), Steven Aaker, Daniel Carriere, Edward Yarrow, Anthony Drescher and Rowland Perkins. Key members of management include:
Jeffrey Pontius: Chief Executive Officer Russell Myers: President Lawrence Talbot: Vice President and General Counsel Michael Kinley: Chief Financial Officer Marla Ritchie: Corporate Secretary Quentin Mai: Manager - Corporate Communications Shirley Zhou: Manager - Corporate Communications Jeff Pontius, CEO and Chairman, stated; "The Company is exceptionally fortunate to have such an experienced and proven team of directors and management to guide project development and create shareholder value. Corvus will focus on the discovery and partner leveraged development of major gold assets in North America. Management anticipates generating a broad portfolio of non-operator, production participation projects that provide shareholders with significant exposure to the appreciating gold market."
Biographical Summaries - Directors and Management
Jeffery A. Pontius - CEO, Chairman, and Director: Jeff has over 30 years of geological experience and possesses a distinguished track record of successful discoveries that includes four precious metal deposits in North America. Significantly, he led the discovery of the new Livengood Gold Deposit in Alaska, which has a significant identified gold resource and continues to rapidly expand. Additionally, Jeff led the discovery and development team for the Cripple Creek Deposit in Colorado, which is operated by AngloGold Ashanti plc and contains over 15 million ounces of gold.
Dr. Russell Myers - President: Russell has over 27 years experience in mineral exploration and project development. Russell has exceptional skills in the utilization and integration of numerous geological methods for the definition of new deposits. Throughout his distinguished career Russell has been a 'hands-on' exploration geologist, who has been integral in the discovery and development of several of the Corvus projects as well as defining new opportunities for the Company.
Michael Kinley - Chief Financial Officer: Mike possesses extensive public company experience and has the financial qualifications to play an important role as the Company continues to expand. He received his Chartered Accountant designation in 1973 in Ontario while with KPMG, where he became a partner in 1981. Since 1993, Mike has been the president of Winslow Associates Management & Communications Inc., a private consulting firm which provides accounting and regulatory support services to junior public companies.
Lawrence W. Talbot - Vice-President & General Counsel: Lawrence is a mining lawyer with over 23 years experience representing a wide range of clients in the mining industry, from individual prospectors and junior and mid-size explorers and producers through to major mining companies, in both the hard-rock and industrial mineral fields. He has extensive experience acting for public natural resource companies and providing advice on all aspects of their businesses, including corporate finance, securities and regulatory matters, corporate governance and shareholder issues, and all aspects of corporate acquisitions, takeovers, divestitures and reorganizations.
Quentin Mai - Manager - Corporate Communications: Quentin has extensive experience in corporate communications, investor relations and business initiative development with publicly listed companies in both the Canadian and US equities markets. He brings over 17 years of professional commerce experience, including 5 years based in Asia.
Marla K. Ritchie - Corporate Secretary: Marla has over 15 years experience in public markets working as a Corporate Administrator and Corporate Secretary. She specializes in working with resource based exploration companies.
Shirley Zhou - Manager - Corporate Communications: Ms. Zhou has worked as a corporate communications professional for the past 7 years, and has combined experience in investor/public relations, corporate communications, strategic marketing, client services, sales and journalism. Most recently, she held the role of Corporate Communications Manager for Silvercorp Metals Inc. for two years. Prior to that, she has held the position of Corporate Communications and Investor Relations for several publicly traded resource companies focused on silver, uranium, base metals and potash exploration since 2005.
Steve K. Aaker - Director: Steve has more than 30 years experience in the mining industry, including an 18 year association with the Franco-Nevada royalty portfolio. He served as Group Executive for Newmont Capital Limited from 2002 to 2007. Prior to the acquisition of Franco-Nevada Mining Corporation Limited (Old Franco-Nevada) by Newmont Mining Corporation in 2002, Steve served as Vice President for Old Franco-Nevada, Euro-Nevada Mining Corp. Ltd. and Redstone Resources Inc., and was associated with the majority of the U.S. acquisitions made by those companies.
Daniel A Carriere - Director: Dan was a founding partner and significant shareholder in Corriente Resources Inc., which was acquired by a Chinese company in 2010. During the past 20 years, Mr. Carriere has been instrumental in the development and financing of small to medium capitalized companies, both private and public, in Canada and the USA. Dan was also a director of ID Biomedical Corporation and was a significant shareholder in ID Biomedical since that company's initial public offering in 1991 and its growth from an initial $3 million market capitalization to $1.7 billion, the value of the takeover offer from Glaxo Smith Kline plc in 2005.
Edward Yarrow - Director: Ed is a senior economic geologist with over 35 years experience in the minerals industry. He has been involved in a number of discoveries of massive sulphide, magmatic nickel, tungsten and gold during this timeframe, and has extensive experience in commercial and legal aspects of the mineral exploration business and new business development in a number of different countries. Recently retired from Anglo American plc. he was, from 2000 until December, 2009, the Vice-President, Exploration Division, North America Europe for Anglo American and President and a Director of Anglo American Exploration (Canada) Ltd. (2002 - 2009). Prior to that, he was the Vice President, Exploration for Hudson Bay Mining and Smelting Co. Ltd., responsible for regional and mine exploration in the Flin Flon mining camp, since 1995. Ed is a member of the Association of Professional Engineers & Geoscientists of both B.C. and Manitoba.
Anton J. Drescher - Director: Tony is a Certified Management Accountant, a designation he has held since 1981. He has been a director and officer of a number of public companies, including USA Video Interactive Corp., Dorato Resources Inc., Landmark Minerals Inc., San Gold Inc. and Trevali Resource Corp. He served as the president of Westpoint Management Consultants Limited, a private company engaged in tax and accounting consulting for business reorganizations since 1979 and president of Harbour Pacific Capital Corp., a private British Columbia company involved in regulatory filings for businesses in Canada since 1998. Tony is the Chairman of the Company's audit committee.
Rowland Perkins - Director: Rowland has, since 2001, been the President and a director of eBackup Inc., a company providing online backup solutions for computers. Previously, he was the Marketing Manager of Intellisave Datavaults Inc. (Securinet Inc.). He is also a director of USA Video Interactive Corp. since 2005.
Return of Capital - International Tower Hill Mines Ltd.
For the information of shareholders of the Company and International Tower Hill Mines Ltd. ("ITH"), the Company advises that, on August 26, 2010, the capital of ITH was reduced pursuant to the Plan of Arrangement dated July 8, 2010 by the distribution of common shares in the capital of Corvus. Corvus has been advised that, in accordance with section 74 of the Business Corporations Act (B.C.), the board of directors of ITH has determined that the amount by which ITH's capital was reduced, being the fair market value of the common shares of Corvus as of the time of the distribution, was CAD 0.75 per common share of Corvus, which is the five day volume weighted average price of the Corvus common shares on the TSX for the period ending on September 3, 2010.
Grant of Incentive Stock Options
The Company also announces that, pursuant to its 2010 Incentive Stock Option Plan, it has granted directors, management and consultants incentive stock options to purchase up to 3,000,000 common shares in the capital stock of the Company. The options are exercisable on or before September 8, 2012 at a price of CAD 0.75 per share.
About Corvus Gold Inc.
Corvus Gold Inc. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum from early stage to the advanced gold projects. Corvus is committed to building shareholder value through new discoveries and leveraging those discoveries via partner funding into carried and or royalty interests that provide its shareholders significant exposure to produced gold and the maximum value for their investment.
On behalf of
CORVUS GOLD INC.
(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
Chairman and Chief Executive Officer
Contact Information:Quentin Mai, Manager - Corporate Communications
Phone: 1-888-770-7488 (toll free) or (604) 683-3246/Fax: (604) 408-7499
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans and business trends, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Information Circular of International Tower Hill Mines Ltd. dated July 9, 2010 in respect of the ITH Special Meeting held on August 12, 2010. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com.