BURLINGTON, ONTARIO--(Marketwire - Nov. 12, 2012) - GTA Resources and Mining Inc. (TSX VENTURE:GTA) ("GTA" or the "Company") announces that it has strengthened its management team with the hiring of Wayne Reid, P.Geo., as President and Chief Executive Officer (CEO), effective December 1, 2012. Mr. Reid's appointment as an Officer and Director of the Company is subject to regulatory approval. Concurrently, Peter M. Clausi, the current President and CEO, will become Executive Vice-President (EVP), Corporate Affairs and General Counsel; and, Robert Duess, GTA's Vice President of Exploration, will join the Board.
GTA has demonstrated the highly prospective nature of its Northshore gold property near Thunder Bay, Ontario and has initiated early stage exploration on its 63,000 acre, 100% owned Auden Property east of the Geraldton-Beardmore gold camp in Northern Ontario. The management changes will enhance the technical depth of the Company as it advances these projects.
Mr. Reid is a strong addition to the GTA management team. He has over 35 years of exploration and mining geology experience in a variety of North American geological terrains, from Newfoundland and Ontario to the Yukon and Alaska. Past positions he has held include Exploration Manager for St. Andrew Goldfields, Canadian Regional Manager for Echo Bay Mines and District Manager for Noranda/Hemlo Gold. He has been involved in the early start up of a number of junior exploration companies, including Ucore Uranium, Rare Earth Metals and Metals Creek Resources, where he is currently VP, Corporate Development and a Director.
Mr. Reid will lead GTA in its Phase 4 exploration program at Northshore and in its early stage exploration at Auden. GTA is fully funded for both of these exploration programs.
GTA is a publicly traded mineral exploration company focused on gold exploration in Canada. The Company is governed by an experienced and successful team consisting of management, directors, and technical advisors.
GTA is exploring two gold projects, the Northshore Property, near Schreiber, Ontario, and the Auden Property near Hearst, Ontario. GTA has an option agreement with Balmoral Resources Ltd. ("BAR") whereby GTA can earn up to a 70% interest in the Northshore Property under the terms of an option agreement announced June 28, 2011. The Company owns a 100% interest in the Auden Property, which consists of over 1,500 claim units, and covers virtually an entire underexplored greenstone belt on strike with the prolific Geraldton-Beardmore gold camp.
GTA has 25,431,855 shares outstanding of which insiders control roughly 30% of the outstanding shares. The Company's shares trade on the TSX Venture Exchange under the symbol "GTA."
On behalf of the board of directors of
GTA Resources and Mining Inc.
"Peter M. Clausi"
For more information, please visit the corporate website at www.gtaresources.com.
This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward- looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, 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. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
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 press release.