January 13, 2015
Pinecrest Appoints Greg Smith Vice President Exploration And Dr. John Thomas As Technical Advisor
Vancouver, British Columbia: Pinecrest Resources Ltd. ("Pinecrest" or the "Company") (TSX-V: PCR) is pleased to announce the appointment of Greg Smith, Vice President of Exploration and Dr. John Thomas as Technical Advisor effective immediately.
George Salamis, CEO of Pinecrest stated: "I am very pleased to welcome both Greg and John to the technical team at Pinecrest. Pinecrest has recently completed the acquisition of 100% of the Enchi Gold Project, Ghana from Edgewater Exploration and Red Back Mining and we are looking forward to the next significant milestone, that being the completion of the Preliminary Economic Assessment ("PEA"). Both Greg and John bring incredible experience from decades in the precious metal resource industry, both have overseen numerous economic studies, construction and production stage projects. The PEA on Enchi will assess the potential for utilizing low cost open pit mining and heap leach gold recovery on the near surface inferred gold resources. The PEA is scheduled to be completed in Q1/2015."
Mr. Smith is an exploration geologist with more than 25 years of experience. He has worked for both junior and senior mining companies in various parts of the world which has included the management and administration of significant work programs that have been successful in outlining a number of multi-million ounce gold deposits. Greg brings a broad range of management and technical experience to Pinecrest from the evaluation of grass roots properties to management of advanced projects including resource and reserve estimation, oversight of geological and technical activities for active underground and open pit mining operations including grade control, QA/QC programs and NI43-101 compliance. His broad range of experience in the natural resource sector also includes administering programs and budgets for advanced technical and economic studies including Preliminary Assessments, Prefeasibility and Feasibility Studies.
Dr. Thomas is a professional engineer and holds a B.Sc., M.Sc., and a PhD in chemical engineering from the University of Manchester, UK. He also received a Diploma in Accounting and Finance from the U. K. Association of Certified Accountants. He has 42 years of experience in the mining industry, including both base metal and precious metal projects in several countries including; Brazil, Venezuela, Costa Rica, Russia, Canada and Zambia. His experience covers a wide range of activities in the mining industry from process development, management of feasibility studies, engineering and management of construction and operation of mines.
The Board of Directors of the Company is comprised of George Salamis, Ryan King, Douglas Forster, Blayne Johnson, Edward Farrauto and Kimberly Williams. The Pinecrest executive team is composed of George Salamis, Chief Executive Officer, Ryan King, President, Greg Smith, Vice President, Exploration, and Kristian Dagsaan, Chief Financial Officer.
Pinecrest is a British Columbia corporation that is based in Vancouver, B.C. The Company engages principally in the acquisition, advancement and development of precious mineral properties and the Company intends to advance and develop the Company's 100% owned Enchi gold project located in South West Ghana. Major shareholders of the Company include; Red Back Mining Ghana Ltd. (wholly owned subsidiary of Kinross Gold Corp.), Sandstorm Gold Ltd. and Management.
On Behalf of the Board of Directors
PINECREST RESOURCES LTD.
Signed "George Salamis"
Chief Executive Officer, Director
For further information, please contact:
Ryan King, President, Director
Telephone: (604) 628-1012
The TSX Venture Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
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.
Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements, including statements regarding the proposed transactions with Red Back and Edgewater, the proposed Private Placement and Consolidation of the Pinecrest share capital and the closing of the transactions contemplated thereby, the use of net proceeds of the Private Placement, future plans and objectives of the Company and the business of the Company.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Atlas to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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