April 13, 2017
Pinecrest Resources Appoints New Directors
Vancouver, British Columbia: Pinecrest Resources Ltd. (TSX-V: PCR) (the "Company" or "Pinecrest") is pleased to announce, effective immediately, the appointment of Mr. Douglas Hurst and Mr. Michael Vint to the Board of Directors of the Company. Ms. Kim Williams will be retiring from the Board of Directors concurrently with the new board appointments.
Ryan King, President and Director of Pinecrest stated: "On behalf of the Board of Directors, I am delighted to welcome Mr. Douglas Hurst and Mr. Michael Vint to the Pinecrest team as Directors. Doug and Mike's extensive experience in project evaluation, debt and equity finance, mergers and acquisitions and mine operations will be a great compliment to our Board. We look forward to working with Mr. Hurst and Mr. Vint as we advance our 100% owned Enchi Gold Project in Ghana and execute our strategy of creating substantial value for shareholders. I would also like to thank Kim Williams for her significant contributions to the Company as a founding Director of the Company."
Mr. Vint is Vice President of Mining with Endeavour Financial, a leading financial advisor in the natural resources sector providing advice in project financing, structured finance and mergers and acquisitions. Mike brings to the Pinecrest board extensive experience in mine operations and construction for precious and base metals as well as corporate finance, mergers and acquisitions. Mr. Vint has spent the majority of his career working in mining operations across the United States and Canada, he then transitioned to the Research department of CIBC World Markets covering the gold sector. Mike was a director of Newmarket Gold Inc. which was recently purchased for $1.0 billion by Kirkland Lake Gold Ltd. Mr. Vint is a registered professional engineer in the Province of British Columbia and received his Mining Engineering degree from the Colorado School of Mines.
Mr. Hurst has over 30 years of experience in the mining and natural resource industries having acted as geologist, consultant, mining analyst, senior executive and board member. Doug was previously a mining analyst with McDermid St. Lawrence and Sprott Securities and a contract analyst to Pacific International Securities and Octagon Capital. He was a founding executive of International Royalty Corporation which was purchased by Royal Gold for $700 million. Recently, Mr. Hurst was one of the founders of Newmarket Gold Inc. which was purchased for $1.0 billion by Kirkland Lake Gold Ltd in November, 2016. Mr. Hurst holds a bachelor of science in geology from McMaster University (1986) and he is currently Chairman of Northern Empire Resources Corp.
Pinecrest has granted 2,350,000 stock options at a price of $0.45 per share for a period of five years to directors, officers and consultants of the Company. The options are subject to regulatory approval and are granted under the Company's stock option plan and include vesting provisions.
About Pinecrest Resources
Pinecrest engages principally in the acquisition, advancement and development of precious metal properties with the Company's primary focus being the 100% owned Enchi Gold Project located in Southwest Ghana. Major shareholders of Pinecrest include Kinross Gold Corp., Management and Directors.
Pinecrest Resources Ltd.
President & Director
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Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements, 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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