VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 2, 2016) – InZinc Mining Ltd. (TSX VENTURE:IZN) (“InZinc” or the “Company”) announces that Chris Staargaard has resigned as President, Chief Executive Officer and Director of InZinc to pursue other interests effective June 1, 2016. The board thanks Mr. Staargaard for his instrumental role in the advancement of the West Desert project and his many years of dedicated service to the Company and wishes him the best in his future endeavours.
Mr. Kerry Curtis, Independent Chairman and Director of InZinc since 2012, will assume the role of Interim Chief Executive Officer of the Company.
Mr. Curtis has over 30 years of experience in exploration, feasibility, permitting, financing and development as well as corporate development and general corporate affairs. He is the former President, CEO and Director of Cumberland Resources where his responsibilities included the successful exploration of the Meadowbank gold project into one of Canada’s largest gold resources. Under his leadership, this was followed by a production decision and initial construction at which point the company was acquired by Agnico-Eagle Mines in a transaction valued at $730 million. Mr. Curtis has worked on a wide variety of exploration to production stage polymetallic and precious metal deposits in the Americas for senior and junior listed companies and private resource investment companies.
“InZinc is in a comparatively rare position, owning a significant North American zinc resource in a positive jurisdiction with abundant infrastructure. West Desert also comprises a large mineralized system which has yet to be fully explored,” stated Kerry Curtis, Chairman and Interim CEO of InZinc. “The Company is in a good position to leverage our experience and skills for growth and I am excited to work more closely with the management and board of InZinc to achieve this.”
For his services as Interim CEO, Mr. Curtis has agreed to accept stock options in lieu of cash compensation.
Election of Directors
InZinc is also pleased to announce that the nominees listed in the Management Proxy Circular for the 2016 Annual General Meeting of Shareholders held on May 26, 2016 were elected as Directors of InZinc. Results of the vote for the election of Directors are tabulated below:
|Director||Votes For||%||Votes Withheld||%|
|*||Chris Staargaard subsequently resigned as Director of InZinc effective June 1, 2016. Mr. Staargaard will remain as a consultant to the Company.|
In addition, the following resolutions were passed:
Issuance of Stock Options
InZinc announces the grant of stock options to directors, officers and consultants to purchase a total of 2,650,000 common shares of the Company for a period of five (5) years at an exercise price of $0.09 per share effective May 31, 2016.
These stock options will vest as to 50% immediately and 50% on May 31, 2017.
About InZinc Mining Ltd.
InZinc owns a 100% interest in the West Desert zinc-copper-iron project located in western Utah. West Desert hosts a large and potentially expandable resource and benefits from all-weather road access, on-site grid power and proximity to natural gas transmission. It is located 90 kilometres (55 miles) from multiple transcontinental rail networks accessing all major North American markets and servicing a variety of western US ports. For more information please visit our website at www.inzincmining.com.
InZinc Mining Ltd.
Kerry Curtis, Chairman and Interim Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This news 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 Company’s next shareholder meeting. 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, performance, or actions and that actual results and actions may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company’s Management Discussion and Analysis for the year ended December 31, 2015 filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.
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 release.