Callinex Announces the Retirement of Chairman Mike Muzylowski
Callinex Announces the Retirement of
Chairman Mike Muzylowski
VANCOUVER, June 3, 2019 /CNW/ - Callinex Mines Inc. (the
"Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) announces that
Mike Muzylowski, has retired from his position as Chairman and as a
member of the Company's Board of Directors. Mr. Muzylowski
achieved an illustrious career that spanned five decades, where he
was involved in the discovery of 16 producing mines and was a
recipient of the 1988 PDAC Developer of the Year Award for his role
in the advancement of the Hycroft Mine in Nevada. In 2011, Mr.
Muzylowski's contributions to the mining industry were recognized
with an induction into the Canadian Mining Hall of Fame.
Max Porterfield, President and CEO, commented "Mike's passion for
exploration has been a driving force in the mineral exploration industry
for over six decades. We are honored to have had his leadership and
unrivaled enthusiasm as our founder and Chairman."
Mr. Porterfield, continued, "Very few are fortunate to have a mentor in
life like Mike has been to me. I'll forever cherish the impact he's had
on me as a businessman and an explorer. I look forward to writing the
next chapter of our relationship as he enters his much-deserved
retirement."
Mike Muzylowski, stated, "I am very grateful to have worked along
side some of the best in the industry throughout my career and look
forward to the bright future ahead for Callinex. After a long career, I
am thoroughly looking forward to spending more time with my wife
Lesia, the long-time love of my life, who has made significant
contributions to my personal and professional endeavours." Mr.
Muzylowski, continued, "I am pleased to stay on as an advisor to Max
and the rest of the Callinex team."
Mr. Muzylowski was particularly instrumental in the development of
the Flin Flon Mining District through his previous roles with Hudson
Bay Mining and Smelting, Granges Exploration, Callinan Mines and
Callinex Mines. Most notably, Mr. Muzylowski led the discovery of the
Trout Lake Mine in the Flin Flon Mining District, which operated from
1982 to 2012, along with a role in the discovery of 12 volcanogenic
massive sulphide mines in the district since the 1950s.
As part of an annual review of its equity compensation plans, the
Company has cancelled its RSU plan and all outstanding RSUs that
were granted under the RSU Plan.
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its
portfolio of zinc rich deposits located in established Canadian mining
jurisdictions. The portfolio is highlighted by its Nash Creek and
Superjack deposits in the Bathurst Mining District of New Brunswick. A
2018 PEA outlined a mine plan that generates a strong economic
return with a pre-tax IRR of a 34.1% (25.2% post-tax) and NPV8% of
$230 million ($128 million post-tax). The projects have significant
exploration upside over a district-scale land package that
encompasses several high-grade mineral occurrences along a 20 km
trend. Click here to view a video overview of the Nash Creek Project.
Callinex has a project portfolio that also includes projects within the
Flin Flon Mining District of Manitoba that are located 25 km to an
operating processing facility that requires additional ore. The
Company's projects host Indicated resources of 13.6 Mt averaging
3.2% Zn Eq. totaling 963 million pounds and Inferred resources of
23.2 Mt averaging 5.2% Zn Eq. totaling 2.7 billion pounds (See News
Release dated April 16, 2018).
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.
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to future expenditures. These statements
address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the statements. Such factors include, among others, the
ability to complete the proposed drill program and the timing and
amount of expenditures. Except as required under applicable
securities laws, Callinex does not assume the obligation to update any
forward-looking statement.
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SOURCE Callinex Mines Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2019/03/c0537.html
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For further information: Callinex Mines Inc., Max Porterfield,
President and Chief Executive Officer, Phone: (604) 605-0885, E-mail:
CO: Callinex Mines Inc.
CNW 08:30e 03-JUN-19