Moneta re-organizes management structure Symbol: TSX: ME
Moneta re-organizes management structure
Symbol: TSX: ME
TORONTO, May 24, 2018 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF)
(XETRA:MOP) ("Moneta" or the "Company") is pleased to announce changes to its executive officer
titles. Gary V. O'Connor has been named Chief Executive Officer and Chief Geologist. Ian C. Peres has
been named President and Chief Financial Officer. Warren Bates has stepped down as Chief Financial
Officer and will continue on the Board of Directors.
Ian C. Peres, President and CFO commented, "The change in titles better aligns senior executives with
their primary roles and responsibilities. We would like to thank Mr. Bates for his contribution as CFO and
look forward to his ongoing contribution on the technical committee and Board.
Mr. O'Connor's hiring has proven to be a transformational change for the Company as his vast technical
knowledge and experience provides the missing piece for Moneta to unlock the value in our extensive
land position in one of the most prolific gold belts in Canada. Ongoing drilling, to supplement 100,000
metres of prior drilling in the South West Deposit, continues to confirm the new high grade gold
interpretation and geological understanding."
Gary V. O'Connor, CEO and Chief Geologist commented, "Moneta has been concentrating on re-defining
and testing targets on its prospective land package. We have now identified multiple opportunities for high
grade deposits on the Golden Highway Project and believe that we are well on our way towards adding
value with the advancement of the South West Deposit. We expect to release a NI 43-101 resource
estimate on the South West deposit before the end of the year."
About Moneta
The Company holds a 100% interest in 5 core gold projects strategically located along the Destor-
Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The
projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, Kayorum and Denton projects.
The Golden Highway Project covers 12 kilometres of prospective ultramafic/mafic volcanic/sedimentary
rocks along the DPFZ hosting a NI 43-101 indicated resource estimate of 1,091,000 ounces (31.1 Mt at
1.09 g/t Au) and 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.
The Company's public documents may be accessed at www.sedar.com. For further information on the
Company, please visit our website at www.monetaporcupine.com or email us at
This news release includes certain forward-looking information and forward-looking statements,
collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation.
Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect",
"anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking
statements include, but are not limited to information with respect to the future performance of the
business, its operations and financial performance and condition such as the Company's drilling program
and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated
goals and objectives.
Forward-looking statements are based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and
uncertainties, including the speculative nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events or results may differ materially from
those projected in the forward looking-statements and we caution against placing undue reliance thereon.
We assume no obligation to revise or update these forward-looking statements.
SOURCE Moneta Porcupine Mines Inc.
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%SEDAR: 00003301E
For further information: Gary V. O'Connor, CEO and Chief Geologist, 416-357-3319; Ian C. Peres,
President and CFO, 416-579-3040
CO: Moneta Porcupine Mines Inc.
CNW 09:00e 24-MAY-18