TORONTO, Dec. 23, 2013 (GLOBE NEWSWIRE) -- Carlisle Goldfields Limited ("Carlisle" or the "Company" ) (TSX: CGJ ) announces the election of Abraham Drost and Nick Tintor to the Board of Directors, subject to TSX approval, at the Company's Annual General Meeting held on December 19 th , 2013.
Mr. Drost is a registered Professional Geoscientist (Ontario) with over twenty five years' experience in the Canadian mining industry. He has a B.Sc. in Earth Sciences (1984) from the University of Waterloo, a M.Sc. degree in Mineral Exploration (1987) from Queen's University and brings considerable senior management success in discovery, finance and mineral project development. Mr. Drost is the former Chairman of Premier Gold Mines USA, Inc. and Premier Royalty Corporation, and former CEO and Director of Premier Royalty Inc. Additionally, Mr. Drost held the positions of President and Director of Sabina Gold and Silver Corporation; President and Director of Sandspring Resources Inc.; and, Director of Source Exploration Corporation. He has been a Director of Mega Precious Metals Inc. since May 2009. Prior to this, Mr. Drost was a consulting geologist to industry and with the Mines and Minerals Division of the Ontario Government.
Mr. Nicholas Tintor is the Managing Director of RG Mining Investments Inc., and the President and a Director of both Ferrum Americas Mining Inc. and Caracara Silver Inc. A graduate of the University of Toronto (B.Sc., Geology), he has more than 30 years of experience in the mining industry and has been involved with all aspects of junior mining company management, finance and project acquisition. Mr. Tintor is also a Director of Aura Silver Resources Inc., Homeland Uranium Inc. and Midlands Minerals Corporation.
Carlisle's President and CEO, Bruce Reid commented that: "We are pleased that Mr. Drost and Mr. Tintor have decided to join Carlisle's Board. The addition of these two new directors will continue to add vision and experience to take the Carlisle story to the next level. We also would like to thank Mr. Carl McGill and Mr. Steven Mintz, both of whom did not stand for re-election on December 19 th , for their years of service. A special thank you goes to Carl McGill who was involved from Carlisle's inception in 2006, and was instrumental in keeping Carlisle moving forward during a challenging period for from 2008 to 2009."
The Company further announces that the new Shareholder Rights Plan and Advance Notice Resolutions were duly approved and passed by the requisite number of shareholders at the Annual General meeting.
About Carlisle: Carlisle Goldfields Limited is a Canadian‐based gold exploration and development company focused on development of its Lynn Lake Gold Camp in the Lynn Lake Greenstone Belt of Northern Manitoba, covering approximately 28,727 hectares, which includes the former MacLellan Gold mine and two other former producing gold mines as well as numerous other historically identified gold zones, all within close distance of the town of Lynn Lake, Manitoba. Carlisle now has five NI 43-101 compliant resource estimates within its Lynn Lake Gold Camp. Further details including technical reports are available on SEDAR ( www.sedar.com ) or carlislegold.com/resource-summary.php. In December 2013, Carlisle released a positive Preliminary Economic Assessment highlighting a Pre-tax NPV of $625 million (using a 5% discount factor) and an IRR of 34.4%. (Please see press release dated December 2, 2013 or carlislegold.com/pea.php)
This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The Company's shares and other securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.
Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", including the establishment and estimate of resources, that involve various known and unknown risks and uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, Carlisle expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither IIROC nor the TSX accepts responsibility for the adequacy or accuracy of this release.
CARLISLE GOLDFIELDS LIMITED 2702 - 401 BAY STREET TORONTO, ONTARIO, CANADA www.carlislegold.com Nicholas Konkin Investor Relations 416-642-0869 ext. 353 or
