Tintina Resources Announces Appointment of New President and CEO
Vancouver, BC – June 1, 2016 - Tintina Resources Inc. (“Tintina” or the “Company”) (TSX.V:“TAU”; OTCQX: “TINTF”) announces the appointment of a new CEO commencing on June 14, 2016.
Tintina is very pleased to report that John Shanahan has agreed to join the Company as President and CEO. John will continue the strong focus and drive to permit the Black Butte Copper Project and develop the project into a successful mining operation.
John brings to the Company many years of experience in Montana where he was the CEO of Revett Mining Company, Inc. from 2008 to 2015 which operated the Troy Copper and Silver Mine and development stage Rock Creek Project in north-western Montana. John has a strong financial and operations background with an MBA from Columbia University and many years in the financial and banking industry supporting mining companies in North America and internationally.
Rick Van Nieuwenhuyse, Chairman stated “John brings with him an excellent reputation in Montana with well-developed working relationships with state and federal permitting agencies and industry. Additionally, John has a reputation of meeting long term goals and creating shareholder value through disciplined financial management.”
The Company is pleased that John will be based in Helena, Montana. Bruce Hooper will remain on the Tintina board as a non-executive director and after a short transition period will complete his secondment as the Company’s current President and Chief Executive Officer from major shareholder Sandfire Resources NL and return to Australia with his family as planned.
The Board of Directors would like to thank Bruce for his efforts over the last 20 months in progressing the mining studies and permit applications for the Black Butte Copper Project.
Mr. Hooper stated, “We are very pleased to have John with his successful management record joining us to take up the reigns on the permitting and development of the Black Butte Copper Project and to grow the Company.”
ABOUT BLACK BUTTE COPPER PROJECT
With a Measured and Indicated resource of 11.57 million tonnes with an average grade of 3.57%, the Black Butte Copper Project’s Johnny Lee Deposit is one of the highest grade copper developments currently underway in the world. The Johnny Lee Deposit contains measured resources of 2.66 million tonnes with an average grade of 2.99% Cu for 175 Million lbs (79,534 tonnes) of copper and indicated resources of 8.91 million tonnes with an average grade of 3.74% Cu for 735 Million lbs (333,390 tonnes) of copper. Readers are encouraged to review the Updated Technical Report and Preliminary Economic Assessment for the Black Butte Copper Project, Montana dated July 12, 2013 (the “PEA”), which is available on SEDAR, for additional information.
ABOUT TINTINA RESOURCES INC.
Tintina Resources Inc. is a growth company focused on the exploration, development, and mining of its 100% owned flagship property, the Black Butte Copper project, in central Montana, USA. The Company is led by a highly experienced executive management team that has a successful track record of building shareholder value through exploration, corporate finance, and mine development.
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.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute “forward-looking information” within the meaning of Canadian securities legislation, including statements regarding the Company’s plans for advancing the Black Butte Copper Project, resource estimates and expected outcomes. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company’s MOP application will proceed as expected, that the results of exploration and development activities are consistent with management’s expectations and that the assumptions underlying mineral resource estimates are valid. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Tintina’s operation as a mineral exploration and development company and the Black Butte Copper Project that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including that results of exploration and development activities will not be consistent with management’s expectations, the risk of unexpected variations in mineral resources, grade or recovery rates, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities and the operation of a producing mine. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Tintina does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Cautionary Note Regarding the PEA: The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Furthermore, there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Readers are encouraged to read the technical report, which discloses the basis for the preliminary economic assessment and the qualifications and assumptions made by the authors of the report.
Jerry Zieg, Vice President of Exploration for the Company is a Qualified Person for the purposes of NI 43-101 and has reviewed and approved the information of a scientific or technical nature contained in this news release.
Tintina Resources Inc.
Mr. Bruce Hooper, President and Chief Executive Officer