TORONTO, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF, FRA: 7AZ1) (“Kerr” or the “Company”) is very pleased to welcome back to the Copperstone Project Giulio T. Bonifacio as a new member to the Board of Directors.
Mr. Bonifacio was the Co-Founder and Director of American Bonanza Gold Corp. from 2002 – 2012 during the initial development and advancement of the Copperstone Project into a high grade underground mining opportunity.
Mr. Bonifacio was the Founder, President and Director of Nevada Copper since its inception in 2005 until his retirement in February 2018. Over the 13-year period, he led and directed efforts at every stage of the Company’s efforts which included resource expansion, feasibility studies and the successful permitting of both the underground and open pit deposits at the Company’s Pumpkin Hollow project located in Nevada. Additionally, Mr. Bonifacio led efforts toward the completion of production-sized headframe, hoist and 1,900-foot-deep, 24-foot diameter concreted lined production sized shaft, all of which will lead to a shortened construction period at Pumpkin Hollow. Mr. Bonifacio was also integral to Nevada Copper attaining a significant refinancing package in December 2017, which now currently positions the Pumpkin Hollow project to progress into commercial production by early 2020.
Over his 30 years of experience in senior executive roles in the mining industry, Bonifacio has raised directly over $700 million in capital through equity and project debt financings for projects of merit as well as being involved in corporate transactions aggregating in excess of US$1 billion.
Mr. Bonifacio is a Chartered Professional Accountant with extensive experience and knowledge of operations, capital markets, project finance, mergers and acquisitions. Mr. Bonifacio has held previous senior executive roles with Getty Resources Limited, TOTAL Energold Corp., an energy and gold producer and Vengold Inc., gold producer prior to founding American Bonanza and Nevada Copper.
“I am very pleased to welcome Giulio to our Board, his knowledge and experience will add tremendous value to our team as we progress through this very important transition to production. Giulio has a great passion for the Copperstone Project and recognizes the potential ahead of us which has attracted him to join our team” stated Claudio Ciavarella, CEO.
Giulio T. Bonifacio, stated:
“I look forward to working with Claudio and the Board to advance Copperstone to commercial production and commend the entire team for the advancement of the project to date. From the initial formation of American Bonanza I have always been of the view that Copperstone has enormous potential by way of its existing infrastructure, permits, grade and manageable capex requirements. Additionally, the multi-million ounce exploration potential of the project cannot be overlooked.”
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million ounce prospects within a 4,775 hectare (11,800 acres) land package.
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Chief Executive Officer
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release and no stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.