TORONTO, Dec. 18, 2014 /CNW/ - Temex Resources Corp.
(TSX-V: TME, FWB: TQ1) ("Temex" or "the Company" or "the
Corporation") announces today that Mr. Gregory Gibson has resigned as a Director of the
Board of Directors of the Corporation so that he may focus his
efforts on his duties as CEO and a Director of San Gold
Corporation, President, CEO and Director of Kerr Mines and as a director other exploration
companies.
Commented Ian Campbell, President
and CEO of Temex Resources Corp., "On behalf of the Board of
Directors and the Temex team, I would like to thank Greg for his
contributions over the past two and a half years and wish him well
in his future endeavours."
Temex is actively exploring the Whitney Gold Project in
Timmins and is on schedule for
completion of the permitting stage in preparation for an advanced
exploration program targeted for 2015.
Oh Behalf of the Board of Directors,
"René Marion"
Executive Chairman
About Temex Resources Corp.
Temex is a Canadian based
exploration company focusing on its portfolio of precious metals
properties in the world class mining district of northeastern
Ontario. Temex (60% interest) is advancing the Timmins
Whitney Gold Project, in partnership with Goldcorp Canada Ltd. (40%
joint venture interest; no back-in rights), and exploring the Juby
Gold Project (100% Temex).
The Whitney Property has a NI 43-101 compliant resources on the
Upper Whitney of 0.97 million tonnes at a grade of 7.02 g/t gold
for 218,100 ounces of gold in the Measured category plus 2.3
million tonnes at a grade of 6.77 g/t gold for 490,500 ounces of
gold in the Indicated category and 1.0 million tonnes at a grade of
5.34 g/t gold for 170,700 ounces of gold in the Inferred category
at a cut-off grade of 3.0 g/t gold (Note 1).
The Juby Gold Project has NI 43-101 compliant resources of 26.6
million tonnes at a grade of 1.28 g/t gold for 1,090,400 ounces of
gold in the Indicated category and 96.2 million tonnes at a grade
of 0.94 g/t gold for 2,908,800 ounces of gold in the Inferred
category, both at a cut-off grade of 0.40 g/t gold (Note
2).
Temex also has a NI 43-101 compliant resource for tailings
material on its Gowganda Silver Project. The tailings piles
contain a NI 43-101 compliant resource of 1.94 million tonnes
grading 47.5 g/t silver for a contained resource of 2.96 million
ounces of silver in the Indicated category (Note 3).
Notes:
1.
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Information regarding
the mineral resource estimate on the Upper Whitney is in the
Company's news release dated January 14, 2014 and the technical
report filed on SEDAR on February 27, 2014. The Mineral
Resource Statement was prepared for Temex by P&E Mining
Consultants Inc. of Brampton, Ontario in accordance with NI 43-101
by Richard Sutcliffe, PhD, P.Geo., Eugene Puritch, P.Eng., David
Burga, P.Geo., Yungang Wu, P.Geo., Tracy Armstrong, P.Geo., and
Antoine Yassa, P.Geo., "independent qualified persons" as defined
by NI 43-101.
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2.
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Information regarding
the mineral resource estimate on the Juby Gold Project is in the
Company's news releases dated April 29, 2013 and January 15, 2014
and the technical report filed on SEDAR February 26, 2014.
The Mineral Resource Statement was prepared for Temex by GeoVector
Management Inc., Ottawa, Ontario in accordance with NI 43-101 by
Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geo., and Duncan
Studd, MSc, P.Geo., "independent qualified persons" as defined by
NI 43-101.
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3.
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Information regarding
the mineral resource estimate in the tailings piles located on the
Gowganda Silver Project is in the Company's news release dated June
8, 2011 and the technical report filed on SEDAR July 21,
2011. The Mineral Resource Statement was prepared for Temex
by GeoVector Management Inc., Ottawa, Ontario in accordance with NI
43-101 by Allan Armitage, PhD, P.Geol., Alan Sexton, MSc, P.Geo.,
and Joe Campbell, BSc, P.Geo., "independent qualified persons" as
defined by NI 43-101.
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Forward-Looking Information:
This news release
contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward-looking information in this news release
includes, but is not limited to, mineral resource estimates, and
the development of its projects as well as the timing related
thereto. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, general business and economic uncertainties, future
mineral prices, uncertainties in mineral resource estimates and
adverse market conditions, as well as those risks set out in the
Company's public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information, which only
applies as of the date of this news release, and no assurance can
be given that such events will occur in the disclosed time frames
or at all. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than
as required by law.
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.
SOURCE Temex Resources Corp.