Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce that David Suda has been appointed as President and Chief Executive Officer of the Company, effective immediately. Mr. Suda will work closely with Joseph Campbell, the Executive Chairman of TerraX, to help lead the company towards continued success in discovery while enhancing the Company’s profile within the investment community.
"David Suda’s appointment is an exciting milestone and comes at an integral time for TerraX”, says Joe Campbell, Executive Chairman. "David’s people-focused leadership style and capital markets experience will improve the company’s ability to finance and fully capitalize on TerraX’s exploration successes and exceptional opportunities.”
David Suda has over 11 years of capital markets experience. He graduated with honours from York University with a Bachelor’s Degree in Environmental Studies. Most recently, Mr. Suda was Head of Trading and Managing Director at Beacon Securities. He has established relationships with investors including institutional managers and public companies. His extensive capital markets experience with a focus on public resource-based companies will provide TerraX access to a skill set which includes marketing, corporate strategy and investment banking.
David Suda, President and CEO stated “It is an exciting and unique opportunity to work with a gold exploration company with so much upside and access to infrastructure in a favorable mining jurisdiction such as Terrax. The work of the team led by Joe Campbell and the commanding land position that has been assembled around two of the highest grade historic gold mines in Canada are the reasons I have decided to join the company. I look forward to working with such a strong technical team to broaden the profile, heighten interest and provide increased value to shareholders.”
Joe Campbell further stated “David brings new energy, vision, strategic thinking and discipline to TerraX as we move towards achieving our long term goal of establishing a major world class Canadian gold district. In addition, David’s background in Environmental Studies will ensure that we maintain and grow our strong relationship with the community in Yellowknife. I am excited to mentor David in his new role, and to follow his lead on investment and corporate strategy.”
TerraX Minerals Inc. has agreed, subject to regulatory approval, to grant incentive stock options to Mr. Suda on 1,250,000 common shares at an exercise price of $0.41 per share for a period of three years from the date of grant. These options will vest over an eighteen month period.
To accommodate Dave Suda’s appointment, Stuart Rogers has agreed to step down as President and to serve as Chief Financial Officer, replacing Mark Gelmon, who will be leaving the Company at the end of June.
About the Yellowknife City Gold Project
The Yellowknife City Gold ("YCG") project encompasses 772 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project's potential as a world-class gold district.
For more information on the YCG project, please visit our web site at www.terraxminerals.com.
On behalf of the Board of Directors
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This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.