Aintree Resources Inc. Signs Consulting Service Agreemen t with Kalex LLC and James Hesketh and Names New Director
Aintree Resources Inc.
Suite 600 – 666 Burrard Street, Vancouver, B.C
Tel: 604-689-9600 Fax: 604-689-9610
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Aintree Resources Inc. Signs Consulting Service Agreemen t with Kalex LLC and James
Hesketh and Names New Director
Vancouver, B.C. - May 10, 2017 - Aintree Resources Inc. (NEX:AIN.H) (the “Company”) is
pleased to announce the appointment of Mr. James Hesketh as President and CEO of the
Company. Mr. Gary Macdonald will continue as Director of the Company. Ms. Marilyn Miller has
resigned from the Board to be replaced by Mr. Christopher E. Herald. The Board would like to
thank Ms. Miller for her service to the Company.
Mr. Hesketh has over 35 years of experienc e in mining company positions, including over 12
years in public company CEO roles, and positions in mining finance, business development, and
mine engineering, development, and operations with companies including Atna Resources Ltd,
Canyon Resources Corpo ration, NM Rothschild & Sons (Denver) Inc., Cyprus Amax Minerals
Company, Pincock, Allen & Holt, Inc., and Dresser Industries Inc. He holds a B.S. in Mining
Engineering and a M.S. in Mineral Economics, both from the Colorado School of Mines.
Mr. Herald i s currently President, CEO and Director of Solitario Exploration & Royalty Corp. Mr.
Herald also served in various senior management roles and finally as President, CEO and
Director of Crown Resources Corporation from 1990 until Crown was acquired by Kinro ss Gold
Corp in 2006. Prior to joining Crown Mr. Herald was a senior geologist for Echo Bay Mines and
Anaconda Minerals. Mr. Herald received an MS in Geology from the Colorado School of Mines
and a BS in Geology from the University of Notre Dame.
Mr. Hesketh will initially be retain ed through a Consulting Service Agreement dated for reference
April 10th, 2017 (the “Agreement”). Subject to the acceptance of the NEX, the Company will issue
500,000 Common shares of the Company (“ Shares”) to Kalex LLC, a Colorado limited liability
company of which James Hesketh is the principal, upon the execution and delivery of the
Agreement; an additional 500,000 S hares, if and when the Company’s list ing is restored on the
TSX Venture Exchange (“TSXV”); and an additional 500,000 Shares upon completion of a NI 43 -
101 compliant technical report (as determined by such report being accepted for filing by the
TSXV) declaring mineral resources on the Company’s Tonopah project in Tonopah , Nevada’; and
a final tranche of an add itional 500,000 Shares on the completion of six month s of service to the
Company.
Mr. Hesketh was a related party to the Company at the time of entering into the Agreement,
having been appointed as an additional director in March 2017, resulting in the Agreement
representing a related pa rty transaction pursuant to TSXV Policy 5.9 and Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special Transactions (“ MI 61 -101”). The
Company relied on section 5.5(a) of MI 61 -101 for an exemption from the formal valuation
requirement and section 5.7(1)(a) of MI 61 -101 for an exemption from the minority shareholder
approval requirement of MI 61 -101 as the fair market value of either the securities to be
distributed, or the consideration to be received for those securities, did not exceed 25% of the
Company’s market capitalization.
Contact Information
Detailed information about the Company may be obtained from corporate filings at
www.SEDAR.com. For other Company information please contact:
Mr. James Hesketh
President, CEO and Director
Aintree Resources Inc.
Tel: (720) 291-1775
Forward-looking Statement Cautions
This press release contains certain “forward-looking statements,” within the meaning of Canadian
securities legislation relating to the contemplated issuance of Shares pursuant to the Agreement ,
the contemplated restoration of the Company’s listing on the TSXV and the completion of an
updated NI 43 -101 compliant technical report. They are based on the beliefs, estimates and
opinions of the Company’s management on the date the statements are made, and they involve a
number of risks and uncertainties. Consequently, there can be no assurances that such
statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. The Company undertakes no obligation to update
these forward -looking statements, if management’s beliefs, estimates or opinions, or other
factors, should change, unless required by law or securiti es exchange policies. Factors that could
cause future results to differ materially from those anticipated in these forward -looking statements
include: the Company’s need for and ability to obtain additional financing; the possibility that the
Company may not be able to secure permitting and other governmental clearances necessary to
carry out the Company’s exploration and development programs; and the other risk factors
associated with mineral exploration and development, including those discussed in greate r detail
in the Company’s various filings on SEDAR (www.sedar.com) with Canadian securities
regulators.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts respons ibility for the adequacy or accuracy of this
release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
HEREIN. THESE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR
TO, OR FOR THE BENEFIT OR ACCOUNT OF, U.S. PERSONS UNLESS REGISTERED OR
EXEMPT THEREFROM.