Montreal, Quebec--(Newsfile Corp. - October 30, 2014) - Aurvista Gold Corporation (TSXV: AVA) ("Aurvista" or the "Company") is pleased to announce that the Board of Directors has appointed Mr. Jean Lafleur, M.Sc., P. Geo., as President and CEO of the Company, effective immediately.
Mr. Lafleur is a graduate of the University of Ottawa with a B.Sc. and M.Sc. in Geology, and previously held the position of VP Exploration for Aurvista from January 2012 to April 2014. Mr. Lafleur orchestrated the exploration drive to advance the bulk gold potential of the Douay Gold Project.
Mr. Lafleur has 30 plus years of experience in mineral exploration across several continents, where he has been instrumental in leading exploration teams to discovery and development, including bulk gold deposits in Nova Scotia, and the Quebec and Ontario segments of the Abitibi Belt (Timmins, Malartic and Val-d'Or). As a senior geologist, Director and executive of several junior mineral exploration companies since 2003, Mr. Lafleur has been a leading figure in early and late stage junior exploration companies. Mr. Lafleur has contributed to the advancement of these companies through marketing and financing as well as actively overseeing gold deposits from early to late exploration stages.
Jean is a Professionnal Geologist with l'Ordre des Géologues du Québec ("OGQ") and is a Qualified Person under National Instrument ("NI") 43-101 regulations.
Jean Lafleur stated "I'm extremely delighted to be back at Aurvista on a full-time basis, where we have previously defined more than 3 million ounces of gold. I firmly believe that the Douay Gold Project offers potential to increase gold resources and their quality. The 20 kilometre long property, of which less than 5 kilometres has been reasonably tested, contains multiple segments of the Casa Berardi South Break similar in "Camp" scale to the Cadillac Break between Val-d'Or and Malartic. The metallogenic context offers more gold mineralization possibilities that will be fully investigated in the next year. My main focus will be to bring Aurvista to its fair market value over time just as other companies have done or are doing at this time with similar projects in the region."
Mr. Lafleur has been granted an aggregate of 500,000 stock options to purchase common shares of the Company exercisable at a price of $0.12 per share for a period of 3 years. The options are priced above the current trading price of Aurvista shares on the TSX-V to demonstrate the Board's ongoing commitment to creating shareholder value. These incentive options, as well as the terms and conditions of their exercise, are governed by the Company's Stock Option Plan which is in accordance with policies within the TSX Venture Exchange.
Aurvista is presently focused on the engineering and permitting processes to assess the potential and the economics of bringing the Douay West Zone into production. The Company has committed to a budget of $917,000 in rock slope engineering, overburden investigation and slope design, hydrogeological investigation, environmental baseline testing, metallurgy, mineral resource infill drilling, resource estimations and both open pit and underground development modeling.
About Aurvista Gold
Aurvista Gold Corporation is a junior gold exploration and development company. Aurvista's principal asset is the Douay Gold Project, consisting of 221 wholly owned claims totaling approximately 11,430 hectares. The Douay Project's North West Zone has 32 designated claims for a total of 1,193 hectares and is in a Joint Venture agreement with SOQUEM. The Douay Project is located on the Casa Berardi Fault in northern Quebec. The Douay Project contains a NI 43-101 compliant Mineral Resource of 114,652,000 million tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Measured and Indicated categories, at a cut-off of 0.3 g/t gold. Details of the Douay Gold Project can be viewed on the Company's website at www.aurvistagold.com
Forward-Looking Statements
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corporation's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistagold.com.
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For further information:
Aurvista Gold Corporation.
Jean Lafleur, President
& CEO
Telephone: (514) 975-3633
Facsimile: (416) 504-4129
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