Dynacor Nominates Jean Depatie as Chairman of Board
MONTREAL, QUEBEC–(Marketwired – March 31, 2016) – The Board of Directors of Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF)(“Dynacor” or the “Corporation”) is pleased to announce the appointment of Jean Depatie as Chairman of the Board.
Jean Depatie joined the Board of Directors on the 11th of May 2015 and has been an active member ever since. He has introduced the Corporation to several potential investors and funds in Toronto and was instrumental in securing the 10-million-dollar credit facility that Dynacor recently closed (see Press Release dated January 15, 2016). Jean Depatie has more than 20 years’ experience in Peru in the mining sector and speaks fluent Spanish. He has recently been to Peru to visit Dynacor’s ore processing plant in Huanca. He also visited the Company’s Tumipampa exploration camp and has maintained a close contact with Dynacor exploration team.
Jean Depatie has been at the forefront of the mining industry in Québec and in Canada for the past 45 years. He is an internationally recognised expert in the mining world in financing, takeovers, mergers and acquisitions. He is a past director of Glamis Gold that was sold to Goldcorp creating a 21.3-billion-dollar entity, a past Director of Novicourt Inc (taken over by Xtrata), a past Director of Consolidated Thomson Iron Mines (taken over by Cliff Resources in a 4.9 billion dollar transaction in 2011). As the Vice-President Exploration of Sullivan Mines, he was directly involved in the reactivation of the Win-Eldrich gold mine. As the President and CEO of Louvem Mines he was instrumental in the discovery of the Louvicourt base metal mine and the development of the Beaufor gold mine in Quebec (later sold to Richmont Mines). In Peru, as a Director of Gold Hawk Resources he was involved in the acquisition and reactivation of the Cobre San Juan base metal mine located in San Mateo (later sold to Nystar a Dutch Company).
Jean Depatie has served many public companies at the highest levels: CEO, President and Chairman of the Board. He has also been actively involved in exploration and economic geology, both as an independent consultant and as a senior officer; for instance, he was Vice-President Exploration for SNC Lavalin for 7 years. He has a very extensive international experience and has worked in more than 20 countries.
He received the 1990 Prix d’Excellence from Québec Ministry of Mines and Energy for having financed and put into production the Stratmin mine, the most important graphite mine in North America. In 1991, Stratmin was amonst the three finalists for international development at the Quebec’s annual Mercuriales Awards. After only two years of production Stratmin was selling graphite in more than 16 countries. Jean Depatie is a graduate of the University of Montréal where he obtained a B.A in Mathematics and Physics and a BSc in Geology and a MSc in Geology from Laval University in 1964. He is a former President of the Association professionnelle des géologues et des géophysiciens du Québec.
The Directors and Dynacor’s senior management are very pleased to work with Jean as Dynacor’s new Chairman of the Board and look forward to growing the Company and creating value for its shareholders.
René Branchaud has resigned from the Board of Directors after 7 years as Chairman of the Board. The Board wishes to thank René for his significant contribution to the development of Dynacor Gold. His leadership of the Board and his in-depth knowledge and expertise of the mining sector was greatly appreciated both by the members of the Board and by Dynacor’s senior officers.
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor’s basic share count at 37.4 million outstanding is in the lowest quartile of the resource sector. The Corporation’s assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85.000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation is currently building a new 300 tpd ore processing plant in Chala (Southern Peru) and expects to begin operations in mid-2016. This new plant represents an important milestone for the Corporation’s future growth. The Corporation’s strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX: DNG)
Shares outstanding: 37 420 911
President and CEO
Dynacor Gold Mines Inc.
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Director, Investor Relations
Dynacor Gold Mines Inc.