Crown Mining Corporation (TSXV: CWM) (“Crown” or the “Company“) is pleased to announce that Peter McRae has been appointed to the Board of Directors, effective immediately.
Mr. McRae is a Chartered Professional Accountant and a graduate of the Director’s Education Program of the Institute of Corporate Directors with an ICD.D designation. He is currently the Chairman of the board of Freedom International Brokerage Company, Canada’s largest inter-dealer broker, and between 1994 and 2015 was the President and CEO. Mr. McRae was the Chair of both Ryan Gold Corp. and Corona Gold Corporation until their acquisition by Osisko Mining Inc. in August 2015. He is also a director and Chair of the audit committee of both Eco Oro Minerals Corp. and Founders Advantage Capital Corp.
“We are delighted to have Mr. McRae join our board at this critical juncture,” commented Stephen Dunn, President and CEO of Crown. “Mr. McRae brings more solid financial and mining expertise to Crown as we get ready to complete our preliminary economic assessment on our 100% controlled Moonlight-Superior Copper Project in Northeast California early next year.”
In addition, the Company announces that incentive stock options to purchase up to 240,000 common shares of the Company have been granted to various consultants and a director of the Company pursuant to the Company’s stock option plan and subject to any regulatory approval. Each stock option is exercisable at $0.15 for a period of three years from the grant date.
Crown is focused on advancing its 100% controlled Moonlight-Superior Copper Project in Northeast California which includes 4 known copper deposits.
The Moonlight-Superior Copper Project in Northeast California includes four known copper deposits, three of which host the following National Instrument 43-101 (“NI 43-101”) resources:
| Deposit | Tonnes | Grade | Copper |
| (tons in brackets) | (%) | (pounds) | |
| Moonlight (Indicated) | 146 million (161mm) | .324 | 1.04 billion |
| Moonlight (Inferred) | 88 million (88mm) | .282 | 496 million |
| Superior (Inferred) | 54 million | .41 | 487 million |
| Engels – oxide (Inferred) | 2.5 million | 1.05 | 60 million |
Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 and the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar.com, which also discloses a historical resource estimate for the fourth deposit.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crownminingcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corporation (416) 361-2827 or email info@crownminingcorp.com.
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.