February 25, 2013
NV & Vancouver, BC - February 25, 2013 - Klondex Mines Ltd. (TSX:
KDX and OTCQX: KLNDF), a Nevada gold mining and exploration company, is
pleased to announce the appointment of veteran gold mining executive,
Larry E. Phillips, as Chairman of the Board effective April 1, 2013. Mr.
Phillips was a co-founder and Executive Vice President, Corporate
Affairs, and General Counsel of IAMGOLD Corporation, a leading mid-tier
gold producer with five operating gold mines.
Mr. Phillips will assume the Klondex Chairmanship from
Blair Schultz who served on an interim basis since July 2012 and will
remain as a Director. Investment executives Paul Crilly and Ben Shapiro
have agreed to tender their resignations from the Klondex Board
effective February 28, 2013 to facilitate the appointment of Mr.
Phillips and one additional mining industry veteran still to be named.
This appointment demonstrates the continuing commitment to enhance
Klondex’s board with mining professionals possessing strategic planning,
management, financial and technical expertise.
Klondex President and CEO, Paul Huet, said: “Larry’s
significant gold mining experience and achievements make his decision to
join us an important step forward for Klondex. His experience in
acquiring, developing and bringing gold mines into full-scale production
should prove invaluable as we evolve Klondex from exploration to
initial production and beyond. I also look forward to his mentorship in
my role as CEO.
“I also wish to acknowledge the contributions of Paul Crilly and Ben
Shapiro who have provided substantial support and direction to the
Board. They played a critical role in bringing Klondex to this current
stage and in positioning us for success. I also thank Blair Schultz for
his leadership as Chairman and welcome his continued contributions to
Mr. Phillips commented: “I am very happy to be joining
Klondex with such a great team in place and a superior project as Fire
Creek. I look forward to working with Paul and his team and am confident
that together we’ll build a very successful company.”
Mr. Phillips was one of the four founders of IAMGOLD
Corporation, an international gold mining, exploration and development
company. For over 20 years Larry directed all international investments,
joint ventures and government relationships, helping build the company
into one of the largest gold mining companies in the world, trading on
the TSX and NYSE. He took early retirement in June 2011 as part of a
broader corporate succession plan. While at IAMGOLD Mr. Phillips served
as a Director of The World Gold Council. Prior to that, he was the
managing partner of a Toronto-based law firm specializing in corporate
Currently Mr. Phillips serves as President of Corplex
Management Services in Toronto, providing advisory services in
international business and governmental affairs to private and public
companies. He is an Executive in Residence and a part-time lecturer at
Queens University School of Business and is a Director and Chair of the
Governance Committees for Gowest Gold and Compass Gold, and Chairman and
CEO of Niagara Ventures Corporation.
About Klondex Mines Ltd.
Klondex Mines is focused on the exploration and
development of its Fire Creek gold deposit in North Central Nevada. Fire
Creek is a compelling gold mining prospect located in a region of
prolific gold production that is near power, transportation, mining
infrastructure and several milling facilities. As of February 22, 2013
Klondex had approximately 64.4 million shares issued and outstanding and
84.9 million shares on a diluted basis.
Paul A. Huet, President and CEO David Collins
Klondex Mines Ltd.
Catalyst Global LLC
This news release contains
forward-looking statements, including about current expectations on the
timing of project development. These forward-looking statements entail
various risks and uncertainties, are based on current expectations, and
actual results may differ materially from those contained in such
statements. These risks and uncertainties include, but are not limited
to the risks and hazards associated with environmental compliance and
permitting for its underground operations. Risks and uncertainties about
the Company’s business are more fully discussed in the Company’s
disclosure materials filed with the securities regulatory authorities in
Canada and available at www.sedar.com. Readers are urged to read these
materials. Klondex assumes no obligation to update any forward-looking
statement or to update the reasons why actual results could differ from
such statements unless required by law.
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