July 12, 2011
Appoints Blane Wilson as CEO and Ken Stowe as Lead Director
Vancouver, BC Canada, July 12, 2011
- Klondex Mines Ltd. (TSX:
KDX), which is focused on the exploration and development of its 100%
owned Fire Creek gold deposit in North Central Nevada, today confirmed
the election of six Directors to its Board at its annual shareholders
meeting held June 30, 2011 and the subsequent appointment of Ken Stowe
as a seventh Director. Mr. Stowe shall also serve in the role of Lead
Director. The Klondex Board now includes five independent Directors.
Klondex also announced that Blane Wilson has been named President and
Chief Executive Officer of the Company, expanding upon his prior role as
President and Chief Operating Officer. William J. Solloway, who has
stepped down as CEO, remains as Chairman of the Klondex Board.
The new Board provides substantial precious metals exploration,
production, processing and finance experience as Klondex enters an
exciting new phase of underground exploration, deposit
delineation/verification and bulk sampling, seeking to advance its goal
of becoming a successful mid-tier gold mining company. Klondex’s Board
is comprised of the following professionals:
Andre Douchane, Director
, has extensive experience in developing
and managing mines in Nevada, including the Round Mountain gold mine,
several projects for Battle Mountain Gold and Battle Mountain North
America, and Franco-Nevada’s Ken Snyder (Midas) gold mine. He is
Chairman of North American Palladium Ltd. and a Director of Osisko
Robin Goad, Director
, is a professional geologist with
approximately 30 years of experience in the mining and exploration
industries in Canada and internationally. He is President, CEO and a
Director of Fortune Minerals Limited, a director of the Northwest
Territories and Nunavut Chamber of Mines, and a director of Andor Mining
Warren Moysey, Director
, was with CIBC for 28 years, with his
last position as director and one of three bank presidents. He has also
held senior positions at financial institutions including Chairman and
CEO of CI Mutual Funds Inc. and is currently an Independent Review
Committee member for Toronto Dominion Asset Management Inc. and a
director of a TDAM Mutual Fund.
William Solloway, Chairman
, is Barrister/Solicitor and active
investor overseeing family interests in mining, natural resource and
other public companies. After a career in law, Mr. Solloway held
management positions at Canadian Bechtel, Trans Mountain Pipeline and
was a principal at Minbanco Corp., Camino Gold Mines and The Marshall
Plan asset managers affiliated with CALPERS.
Kenneth Stowe, Lead Director
, has over 35 years of mining
industry experience. He is the outgoing President and CEO of Northgate
Minerals Corporation and the recipient of the Canadian Mineral Processor
of the Year Award in 2006. Prior to Northgate, Mr. Stowe worked in
various operational, R&D and corporate leadership roles at Noranda,
Diamond Fields Resources and Westmin Resources/Boliden. Mr. Stowe is a
director of Hudbay Minerals Inc.
Chad Williams, Director
, is a professional mining engineer and
was a highly ranked institutional equity analyst covering the gold and
precious metals sector. He previously served as a Senior Gold Analyst
and ultimately Head of Investment Banking at Blackmont Capital Inc. He
is a director and former President and CEO of Victoria Gold Corp. and a
director of Golden Valley Mines Ltd.
Blane Wilson, Director, President and CEO
, has over 25 years of
mining, gold refining and processing, permitting, water management,
reclamation and construction experience, including serving as Corporate
Operations Manager for Queenstake Resources USA’s Jerritt Canyon Nevada
gold mine. Mr. Wilson is COO of Golden Eagle International, Inc.
Audit & Compensation and Governance Committee Appointments:
Klondex’s new Board of directors has appointed a new Audit Committee and
expanded the scope of its prior Compensation Committee to form the
Compensation and Governance Committee. Andre Douchane, Robin Goad, and
Ken Stowe have each agreed to serve on both the Audit Committee and the
Compensation and Governance Committee.
Klondex President and CEO, Blane Wilson, commented, “Klondex has forged a
very strong, independent board with an impressive track record of
mining industry accomplishment and mine operations experience, including
relevant Nevada gold mining involvement. The Board’s guidance will
prove instrumental as we execute our active surface and underground
programs at Fire Creek which continue to make solid progress. The Board
has also made substantial Corporate Governance headway, having formed
fully-independent Audit and Compensation and Governance Committees.
These are important steps for Klondex that reflect our evolution as a
company and represent clear signs of the Board’s responsiveness to
About Klondex Mines Ltd.
Klondex Mines is focused on the exploration and development of its 100%
owned Fire Creek gold deposit in North Central Nevada. As of July 11,
2011, Klondex had 37.0 million shares issued and outstanding and 43.6
million shares on a diluted basis.
On Behalf of Klondex Mines Ltd.
President and CEO
Klondex Mines Ltd.
Jaffoni & Collins
Back to the News page