MIDAS GOLD APPOINTS BOB BARNES AS VICE-PRESIDENT, DEVELOPMENT
VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) is pleased to announce the addition of Bob Barnes, P.Eng. to the Midas Gold team as Vice-President, Development.
Mr. Barnes was previously with Capstone Mining Corp. as their Vice President, Operations and was responsible for Capstone’s mines in Yukon and Mexico (from 2008 through early 2011) and for the development and operation of Capstone’s Cozamin mine in Mexico before the Capstone - Sherwood Copper Corp. merger.
Prior to Capstone, Mr. Barnes was involved in technical studies and operations in various locations, including a period with Pan American Silver. From 1985 to 1995, he worked with Wharf Resources, where he was General Manager of the Golden Reward and Wharf gold mines in South Dakota from 1988-1995. From 1981-88, Mr. Barnes played a leadership role in the feasibility, permitting, construction and operation of the original Wharf mine and, subsequently, for the permitting and implementation of a five-fold increase in production at these mines. Mr. Barnes is a mining engineer by training and spent his first three years with Teck Corporation in operations, before moving on to his Wharf-related activities.
“We are extremely pleased to welcome Bob to the Midas Gold team,” commented Stephen Quin, President and CEO of Midas Gold. “His experience in US gold production, permitting and interactions with regulators in the United States will be particularly helpful in advancing the Golden Meadows Project.”
In connection with his appointment and in accordance with the Company’s Stock Option Plan, Mr. Barnes has been granted options to acquire a total of 250,000 common shares of the Company at the exercise price of $3.76 per share for a period of 5 years, subject to vesting. The Company has also granted 200,000 additional options to new employees of the Company with the same terms as specified above.
About Midas Gold and the Golden Meadows Project
Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.
The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization.