VANCOUVER - Element79 Gold Corp. (CSE: ELEM) (OTC PINK: ELMGF) (FSE: 7YS) ('Element79 Gold', the 'Company') is pleased to welcome Mr. Antonios Maragakis to the position of Chief Operating Officer.
Mr. Maragakis holds a distinguished resume, including management and director-level positions overseeing multi-billion dollar project portfolios internationally at organizations such as: Barrick Gold Corporation (NYSE Listed), where he lead project controls in North America across a portfolio of 70+ projects worth over $2.3 billion.
Skeena Resources Limited (TSX Listed), where he worked closely with executive leadership to develop the Eskay Creek Project and corporate processes and management systems.
Freeport-McMoRan Inc. (NYSE Listed), where he helped develop the $3 billion Indonesian Copper Smelter Project which includes a 2 million ton/annum smelter and precious metal recovery plant.
Eldorado Gold Corporation (TSX, NYSE Listed), where he was Project Director for the over $1 billion Skouries Project as well as leading the operational turnaround of the Kassandra Mines.
Koch Industries (the largest privately held company in the U.S.), at its subsidiary, Koch Ag. & Energy Solutions where he helped execute the Enid Expansion Megaproject, at the time the largest capital project ever undertaken by the entire Koch Industries conglomerate.
Mochica Resources and Calipuy Resources (private Peruvian gold mines) where he oversaw the development of various project portfolios.
'It's a tremendous vote of confidence when a highly seasoned director such as Mr. Maragakis, with his wealth of experience overseeing multi-billion dollar projects, makes the decision to dedicate his valuable time to a junior mining company such as Element79 Gold,' said James Tworek, President and CEO of the Company.
Mr. Maragakis completed his Ph.D. at the University of Delft, M.Sc. at the University of Bath, as well as his B.Sc and B.A. at the University of Nevada, and Executive Training at the London Business School. He brings with him 15+ years of experience leading some of the largest mining megaprojects in the last decade.
'Based on my international experience, especially in Nevada and Canada, I am confident in my ability to deliver significant value across such a diverse set of properties at Element79 Gold,' commented Mr. Maragakis. 'I look forward to working with the team on this unique opportunity, particularly at such early stages of development.'
Element79 Gold Receives DTC Approval
The Company is also pleased to announce that the DTC has completed their Eligibility Review and approved Element79 Gold under the ticker symbol 'ELMGF'. DTC is a subsidiary of Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled though DTC are considered DTC eligible. Element79 Gold's common shares have been made eligible for book entry delivery and depository services of DTC to facilitate the electronic settlement of transfers of its common shares in the United States. DTC eligibility will simplify the process of trading and is expected to enhance the liquidity of the company's common shares on the OTC (over-the-counter) markets. The Company is pursuing an application for full listing on the OTCQB.
About Element79 Gold
Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals within the mining-friendly jurisdictions of Nevada, British Columbia, and Ontario. In Nevada, the Company is closing on its acquisition of the flagship Maverick Springs Project, which consists of 247 unpatented mining claims on the border of Elko County and White Pine County, Nevada, and the Battle Mountain Portfolio, which consists of 2,203 unpatented mining claims in Elko County, Eureka County, Humbolt County, Lander County, and Nye County, Nevada. In British Columbia, the Company has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Ontario, the Company has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.
James C. Tworek