2012-09-11 19:29:36 -
Thunder Bay, Ontario CANADA, September 11, 2012 /FSC/ - Mega Precious Metals Inc. (MGP - TSX Venture)("Mega"),is pleased to announce the appointment of Mr. Glen Kuntz, P.Geo. to the positions of President and Interim Chief Executive Officer effective immediately as Mr. James Rogers has decided to resign from his current position and from the board for personal reasons. Mr. Rogers will remain with the Corporation in a technical consulting capacity. Mega wishes to thank Jim for his generous contribution to the company and the integral part he has played in the company's growth and successes.
Mr. Kuntz has held the role of Chief Operating Officer with Mega since February 2011 and has more than 20 years of experience in mining,
exploration, financings and business development including Placer Dome, Runge, GMC Global, Noranda, Rea Gold and Vale. He brings an abundance of experience gained from over 200 projects at all stages of development located in more than 20 countries.
Mr. Kuntz commented, "I am excited about the opportunity to lead Mega through this important growth phase. Mega has two active and growing projects in Canada (Monument Bay and North Madsen Projects), is well-funded for ongoing exploration and will continue to develop these projects in a timely fashion. We look forward to growing both the Red Lake and Monument Bay Resources well beyond its current resource base. Concurrent with ongoing exploration, we will continue to develop these known resources and will expand these assets with our strong pipeline of well-defined exploration targets. Furthermore, the company is currently updating its combined NI 43-101 compliant Measured and Indicated resources of 36M tonnes at 1.86 g/t equating to 1.98 million gold ounces and the Inferred resources of 25M tonnes at 2.81 g/t equating to 2.11 million gold ounces at both of its key projects to ensure the company is properly valued; as such we are well-positioned to add significant shareholder value in the near future.
Mega has assembled an excellent team to work together to continue to deliver results. The gold markets continue to reward new discoveries and our investors can look forward to a steady pace of activity and regular communications."
Mega Precious Metals Inc. is a well financed Canadian-based mineral exploration company with several projects in Northwestern Ontario, Manitoba and Nunavut. The Company is committed to an accelerated growth strategy and is backed by a team of experienced mining experts and a strong financial position. The Company is poised for rapid expansion through quick response to new opportunities and changes in the market. Mega's common shares trade on the TSX Venture Exchange under the symbol MGP.
For further information and presentation material, please review the Mega website at www.megapmi.com
For further information, please contact:
Mega Precious Metals Inc.
Glen Kuntz, President and Interim Chief Executive Officer
Certain statements in this press release relating to the Company's exploration activities, project expenditures and business plans are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal's filings which are posted on sedar at www.sedar.com.
There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify a reserve or resource.
Neither 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 release.
To view this press release as a webpage, please click on the following link:
Source: Mega Precious Metals Inc. (MGP - TSX.V) www.megapmi.com
Maximum News Dissemination by FSCwire. www.fscwire.com