Fremont Appoints Andy Wallace to Advisory Board; Activity Update
Fremont Appoints Andy Wallace to Advisory Board;
Activity Update
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2019) - Fremont Gold Ltd. (TSXV: FRE) (FSE: FR2) (OTC Pink:
USTDF) ("
Fremont
" or the "
Company
") is pleased to announce that it has appointed Andy Wallace to its Advisory Board. Mr.
Wallace is a principal of Cordilleran Exploration Company ("Cordex").
Founded by the legendary John Livermore, co-discoverer of the Carlin mine (Nevada Gold Mines), Cordex is credited with the
discovery of nine gold mines in Nevada, several of which are still in production today. Andy joined Cordex in the 70's and five of
those discoveries occurred under his management, including the Marigold mine (SSR Mining), the Lone Tree/Stonehouse mine
(Nevada Gold Mines), the Daisy mine (Coeur Mining), the Sterling mine (Coeur Mining) and the Dee mine.
"I'm very pleased that Andy has agreed to join our Advisory Board," said Blaine Monaghan, CEO of Fremont. "Andy has an
unparalleled track record and his encyclopedic knowledge of Nevada will be extremely valuable as we evaluate new projects for
acquisition."
Dr. Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists. He completed a
B.S. in geology at Eastern New Mexico University, an M.S. in geology at the University of Texas at El Paso, and a PhD in
geology at the Mackay School of Mines at the University of Nevada, Reno
Andy joins Douglas Hurst, the former Executive Chairman of Northern Empire Resources Corp, which was recently acquired by
Coeur Mining Inc., and Derek White, the current CEO of Ascot Resources Ltd. and former CEO of KGHM International Ltd. (the
Sierra Gorda mine in Chile was built under Derek's leadership), on Fremont's Advisory Board.
Activity Update
Fremont is currently weighing the sale or joint venture of some of its projects while it evaluates opportunities to acquire an
advanced-stage gold project that has the potential to host an economic deposit hosting a minimum of 1.0 million ounces of gold
in the Western U.S.
"Strong interest has been expressed in several of our properties; we are in advanced stage negotiations with one gold
producer," said Mr. Monaghan. "Management will seek to maximize the returns our present portfolio can generate while
evaluating opportunities that can add immediate and long-term shareholder value. Over the last several months we have looked
at numerous advanced-stage gold projects in Nevada, Idaho and Utah, resulting in a short list of projects that warranted further
due diligence. We are in discussions with several third parties and are confident that we will be able to identify and acquire an
advanced-stage gold project that has the potential to host an economic deposit hosting a minimum of 1.0 million ounces of
gold."
Related, the Company has terminated the Gold Bar option agreement. Based on the exploration results to date, Fremont has
determined that Gold Bar no longer fits with the Company's corporate strategy. Further, a payment of US$100,000 was due to
Nevada Select Royalties, Inc. (a wholly-owned subsidiary of Ely Gold & Minerals Inc.) in September 2019 to keep the option
agreement in good standing.
About Fremont Gold
Fremont's mine-finding management team has assembled a portfolio of high-quality gold projects in Nevada with the goal of
making a new discovery. Fremont's Gold Canyon is a past producing gold mine adjacent to McEwen's Gold Bar mine. Other
projects include North Carlin, Goldrun, Hurricane, and Roberts Creek. We are aligned with our shareholders: Insiders own over
20% of Fremont.
On behalf of the Board of Directors,
"Blaine Monaghan"
CEO
Telephone:
+1 604-676-5664
Email:
www.fremontgold.net
Neither the TSX Venture Exchange nor its Regulation 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.
Forward looking statements
Certain statements and information contained in this press release constitute "forward-looking statements" within the
meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian
securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities
Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Forward-looking statements are
statements and information regarding possible events, conditions or results of operations that are based upon assumptions
about future economic conditions and courses of action. All statements and information other than statements of historical
fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such
as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential",
"target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future
outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include but are
not limited to statements and information regarding negotiations with a gold producer, and identifying and acquiring an
advanced-stage gold project that has the potential to host an economic deposit hosting a minimum of 1.0 million ounces of
gold. Such forward-looking statements are based on a number of material factors and assumptions and involve known and
unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry
results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue
reliance on forward-looking statements contained in this press release. Actual results and future events could differ materially
from those anticipated in such statements. Fremont undertakes no obligation to update or revise any forward-looking
statements included in this press release if these beliefs, estimates and opinions or other circumstances should change,
except as otherwise required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/46426