VANCOUVER, British Columbia, Oct. 18, 2018 (GLOBE NEWSWIRE) -- GT Gold Corp. (“GT Gold” or the “Company”) (TSX.V: GTT) is pleased to announce that Dr Neil Adshead has joined the Company in a ‘Special Advisor’ role, with the primary objective of providing general strategic, financial and technical input to corporate decision-making going forward.
Dr. Neil Adshead:
Dr Adshead is presently a Director at Cupel Advisory Corp., a Vancouver-based entity focused on value creation and realization in the exploration, mining and investment sectors. He has 25 years of relevant industry experience, including a decade working for Placer Dome subsidiaries in exploration, production and corporate roles, plus close to 15 years on the buy-side in the junior minerals sector, most recently with a subsidiary of TSX-listed Sprott Inc. as an Investment Strategist. He holds a Ph.D. in Economic Geology from James Cook University of North Queensland.
“We are absolutely thrilled to have Neil joining our team. His strong technical and capital markets background, coupled with his extensive industry knowledge, will be an asset to the company moving forward. Through his vast experience and network of contacts in the industry and investment community, we believe Dr Adshead will be instrumental in assisting the development of our strategic direction as we advance our very prospective Saddle North and Saddle South projects,” said Steve Burleton, President and CEO of GT Gold Corp.
Neil Adshead commented: “I am excited to create a formal relationship with the GT Gold team following the drill discoveries reported at Saddle North and Saddle South through the successful drill programs in the 2017 and 2018 field seasons. I was involved in an early investment in GT Gold in late-2016 and have closely followed the very interesting news-flow ever since. The rapid discovery of two mineral systems at Saddle demonstrates the high potential of this prospective portion of the proven Golden Triangle area of NW BC, and my input will aim to optimize the value per share realization for all GT Gold owners.”
The Company further announces, pursuant to the Company’s stock option plan, the granting effective October 13, 2018, of 240,000 five-year stock options to an advisor of the Company. The options vest in three equal tranches at exercise prices as follows: one-third in three months from the date of grant at C$1.50, an additional third at C$1.60 fifteen months from the date of grant, and the final third at C$1.70 twenty-seven months from the date of grant.
About GT Gold
GT Gold Corp. is focused on exploring for gold in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 44,206-hectare Tatogga property, located near Iskut, British Columbia, close to roads and grid power. The Company achieved, in 2017, a major new gold-silver discovery at its Saddle prospect, located up a gentle valley only 10 kilometres off highway 37. The Saddle discovery comprises two parts: a high-grade, near surface, epithermal gold-silver vein system at Saddle South and, close by at Saddle North, a largely covered, porphyry copper-gold-silver mineralized system. Geophysical surveying suggests that both may be large in scale, and current 2018 drill results indicate that Saddle North bears strong similarities to the nearby Red Chris deposit. The Saddle South discovery was internationally recognized for its significance in November 2017 with the Mines and Money “Exploration Discovery Award”. The Company has the backing of major institutions and key Canadian investors and is fully funded for the 18,000-metre program of expansion drilling now underway on this exciting new discovery.
For more information please contact:
GT Gold Corp.
Steve Burleton
President and Chief Executive Officer
Tel: (647) 256-6752
Website: www.gtgoldcorp.ca
GT Gold Corp.
Charles J. Greig, P. Geo.
Vice President, Exploration
Tel: (250) 492-2331
GT Gold Corp.
Amandip Singh
Director, Corporate Development
Tel: (647) 256-6754
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.