Vangold Appoints New Members to Board of Directors Closes $500,000 Non-Brokered Private Placement
Vangold Appoints New Members to Board of Directors
Closes $500,000 Non-Brokered Private Placement
April 26, 2017
VANCOUVER, BRITISH COLUMBIA --(April 26, 2017) - VANGOLD RESOURCES
LTD. (TSXV:VAN) (OTC:VNGRF) (the "Company" or "Vang old") is pleased to announce the
appointments of Mr. Mark Ashley, Mr. Hernan Dorado Smith and Mr. Cameron Scott King to the
Board of Directors of Vangold.
Mr. Ashley is a successful resource executive with ov er 30 -year s’ experience in asset
selection and optimizing mining properties for production. Vangold will be relying on Mr.
Ashley to bring his in -depth knowledge of the technical, commercial, and financial
aspects to the development of the El Pinguico Mine . As CEO of LionOre Mining
International, Mr. Ashley led the successful takeover by Norilsk Nickel in 2007 for $6
Billion CDN . He has held senior executive roles in several internationally listed entities
including Normandy Mining, Cluff Resources, Kagara Zinc and Apex Minerals . Mr. Ashley
was also a director of the Australian Gold Council, the World Gold Council and a Council
Member for Curtin University (in West Australian ). He has significant international corporate
finance experience in the mining and resource sector and has worked in China, Turkey, UK and
Australia. Mr. Ashley is a registered FCMA and Graduate of Emile Woolf University,
London.
Mr. Hernan Dorado Smith is a 5th generation mining engineer and possesses 15 years of
underground and open pit mining experience . He has in -depth and local knowledge of the El
Pinguico mine and the surrounding geological formation. Hernan has worked with several world
class producers on major projects, such as, New Gold at Peak Mine, Australia and Rainy River,
Canada; Panamerican Silver at Navidad, Argentina and La Preciosa, Mexico. His experience
at the various stages of mining, pre-feasibility, feasibility, construction and operations bring
considerable value to Vangold . Hernan graduated as a Mining Engine er from Universidad de
Guanajuato in 2003, received an Executive MBA from Escuela Europea de Negocios,
Salamanca in 2013, and is a member of the Mining of the Mineral and Metallurgical Society of
America (MMSA).
In addition, Vangold is also pleased to anno unce the appointment of Mr. Cameron King as a
Director and Vangold’s new President and CEO. Mr . King brings over 25 years’ experience in
investment banking strategy , mergers and acquisitions and building corporate development
relationships. Mr. King was a member of the Corporate Banking team with the Bank of Nova
Scotia specializing in M&A and Senior VP Mid-Market Finance with Jendens Fina ncial, London
UK. Throughout Mr. King`s career, he has held director positions with Petro Novus AG,
Endeavor Energy, Q uest Oil and Holloman Energy Corporation. Mr. King founded the mining
engineering firm Camline Mining Wear Technologies Ltd. in 1994 , specializing in mineral
processing, operations and efficiencies. Mr. King obtained his MBA in 1991 from Lake Superior
State University, Michigan and holds a degree in Chemical Engineering and Bachelor of
Commerce from McMaster University.
Mr. Dal Brynelsen has stepped down as President and CEO , but will remain as a director and
Chairman of the Board. Vangold is extremely grateful for his almost 30 years of dedication to
Vangold, and we will continue to rely on Dal`s guidance, experience and success . He is a
founding director of Griffin Mining Limited (LSE:GFM), which is one of the few western mining
companies operating China.
Mr. Keith Anderson has also resigned as director of the Company. Vangold would like to thank
Mr. Keith Anderson for his continued support and wishes him the very best in his future
endeavours.
Vangold Closes Non-Brokered Private Placements
The company is pleased to announce that it has closed the final tranche of its $500,000 non -
brokered private placement of $0.05 units (the “$0.05 Placement” – see news release dated
December 13, 2016) and its $500,000 non -brokered private placement of $0.09 un its (the
“$0.09 Placement” – refer news release dated February 23, 2017).
The final tranche of the $0.05 Placement consisted of 3,500,000 units at a price of $0.05 per
unit for gross proceeds of $175,000 (for unit terms, see news release dated December 13,
2016). The securities issued in the final tranche have a hold period expiring August 25, 2017.
The $0.09 Placement consisted of 5,555,556 units at a price of $0.09 per unit for gross
proceeds of $500,000 (for unit terms, see news release dated February 2 3, 2017). Finder’s
fees were paid in the amount of $10,500 and 116,667 finder’s warrants. All securities issued in
the $0.09 Placement have a hold period expiring August 25, 2017.
ABOUT THE COMPANY
Vangold is a development stage silver company , focused on silver and gold production in
Mexico and is aggres sively pursuing its business plan of becoming a senior producer through
the development of its existing mineral property assets and the pursuit through acquisition of
additional mineral assets which contribute to Vangold achieving its aggressive corporate growth
objectives.
VANGOLD RESOURCES LTD.
Cameron King MBA, President & CEO
Contact Information
Vangold Resources Inc.
1400-1111 West Georgia Street,
Vancouver BC, V6E 4M3
T: +1 778 945 2940
www.vangold.ca
Neither the TSX Venture Exchange nor its Regulations 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.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "Forward -Looking Statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify f orward-
looking statements or information. These forward -looking statements or information relate t o, among other things: the price of silver
and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of
production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of
development of our development projects; the effects of laws, regulations and government policies on our operations, includin g,
without limitation, the laws in Mexico which currently have significant restrictions rela ted to mining; obtaining or maintaining
necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure,
including, without limitation, access to power, land, water and roads to carry on activities as planned.
These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant busine ss,
economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could caus e
actual results, performance or achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward -looking statements or information and the Company has made assumptions and
estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot an d forward
price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the
currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local
government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or
technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral
exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and ot her parties
with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of l aws
and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relat ions;
relationships with and claims by local communities and indigenous populations; availability and increasing costs associated w ith
mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary
licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properti es are
mined; the Company's title to properties; and the factors identified under the caption "Risk Factors" in the Comp any's Annual
Information Form, under the caption "Risks Relating to Vangold Resource`s Business".
Investors are cautioned against attributing undue certainty to forward -looking statements or information. Although the Company has
attempted to identify impor tant factors that could cause actual results to differ materially, there may be other factors that cause
results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to upd ate
these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events
affecting such statements or information, other than as required by applicable law.