(Vancouver, BC, July 2, 2014) – Falco Pacific Resource Group Inc. (“Falco”) (TSX.V: FPC) is pleased to announce the appointment of Mr. Trent Mell as President, Chief Executive Officer and Director effective July 2, 2014.
Prior to joining Falco, Mr. Mell was an Executive Vice President at AuRico Gold, which recently declared commercial production at its Young-Davidson underground gold mine in Kirkland Lake, Ontario. He has also held senior leadership roles at Barrick Gold, Sherritt International and North American Palladium. Mr. Mell is a Quebec native and was a securities and M&A lawyer with Stikeman Elliott LLP prior to entering the mining industry. He holds a B.A., B.C.L. and LL.B. from McGill University, an LL.M from Osgoode Hall and an executive MBA from the Schulich School of Business and Kellogg School of Management.
“This has already been a successful year for Falco with the release of a maiden mineral resource estimate at the Horne mine complex and the commencement of an ambitious field exploration program on our land holdings in the Rouyn-Noranda camp in Quebec,” said Darin Wagner, Chairman of Falco. “With Trent’s wealth of capital markets experience and strong track record, the Board is confident that he will be able to guide Falco through its next phase of growth.”
Mr. Trent Mell commented: “I am honored to be joining a strong and dedicated team of professionals that has achieved impressive results in a short time. We are fortunate to own an extensive land package encompassing 14 former producing mines, including the Horne gold-silver-copper-zinc mine, which has been largely overlooked for 35 years. Our focus will be on executing a methodical strategy to create shareholder value by advancing our understanding of the Horne mine complex and several other targets within the land package.”
The Board of Directors wishes to thank Jim Davidson for serving as interim Chief Executive Officer. With Mr. Mell’s appointment, Mr. Davidson will be resuming his role as Chief Financial Officer.
Mr. Dean Linden has been appointed to the position of Senior Vice President of Business Development and will be responsible for Falco’s marketing activities.
Mr. Mell has been granted incentive stock options to purchase 1,100,000 common shares of Falco, subject to a three-year vesting period and a five-year term, at an exercise price of $0.57 per share.
In connection with this appointment, Falco will be opening a Toronto office.
About Falco
Falco is a mineral exploration company and owner of mineral rights to 14 former mines within a 700 km2 land package in the Abitibi region of Quebec, Canada. Falco’s principal property is the Horne mine complex, which was operated by Noranda from 1927 to 1986 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. A maiden 43-101 mineral resource estimate for the Horne 5 deposit delineated an inferred resource totaling 25.3 million tonnes grading 2.64 g/t Au, 0.23% Cu and 0.7% Zn, for 2.2 Moz Au contained (see Falco press release dated March 4, 2014 for more details).
For further information contact:
Mr. Dean Linden
Senior Vice President
Business Development
Ph: 1.425.449.9442
dlinden@falcopacific.com
or
Ms. Deanna Kress
Corporate Communications
Ph: 1.604.336.6346
Toll Free: 1.855.238.4671
dkress@falcopacific.com
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 press release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs and work with respect to the historical data on the Horne 5 deposit, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, metal price assumptions, the ability of Falco Pacific to optimize the value of the Horne 5 deposit and to outline the economic parameters for any potential development of Horne 5 and several nearby deposits, the ability of Falco Pacific to add other nearby unmined and remnant deposits to Falco Pacific’s current model, the ability of Falco Pacific to continue low cost, high impact growth, the potential for any production decision to be made in respect of the Horne 5 deposit, the potential for any mining at or mineral production from Horne 5 or any surrounding deposits, the potential for the identification of multiple deposits surrounding Horne 5, business and financing plans and business trends. Information concerning mineral resource estimates may also be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. Generally, forward-looking information can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in Falco Pacific’s public documents filed on SEDAR at www.sedar.com. Although Falco Pacific believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, Falco Pacific disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cautionary Note Regarding References to Resources and Reserves
National Instrument 43 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in or incorporated by reference in this press release have been prepared in accordance with NI 43-101 and the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004 (the “CIM Standards”) as they may be amended from time to time by the CIM.
United States shareholders are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards differ significantly from the requirements and terminology of the SEC set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”). Accordingly, Falco Pacific’s disclosures regarding mineralization may not be comparable to similar information disclosed by companies subject to SEC Industry Guide 7. Without limiting the foregoing, while the terms “mineral resources”, “inferred mineral resources”, “indicated mineral resources” and “measured mineral resources” are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to be used in documents filed with the SEC by companies subject to SEC Industry Guide 7. Mineral resources which are not mineral reserves do not have demonstrated economic viability, and US investors are cautioned not to assume that all or any part of a mineral resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit amounts. The term “contained ounces” is not permitted under the rules of SEC Industry Guide 7. In addition, the NI 43-101 and CIM Standards definition of a “reserve” differs from the definition in SEC Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made, and a “final” or “bankable” feasibility study is required to report reserves, the three-year historical price is used in any reserve or cash flow analysis of designated reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.
Caution Regarding Adjacent or Similar Mineral Properties
This news release contains information with respect to adjacent or similar mineral properties in respect of which Falco Pacific has no interest or rights to explore or mine. Falco Pacific advises US investors that the mining guidelines of the US Securities and Exchange Commission (the “SEC”) set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”) strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that Falco Pacific has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties, and any production therefrom or economics with respect thereto, are not indicative of mineral deposits on Falco Pacific’s properties or the potential production from, or cost or economics of, any future mining of any of Falco Pacific’s mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.