| ||August 18, 2009|
Troymet Announces Appointment of New Director
| ||August 18, 2009 - Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or the "Company") is pleased to announce that Dr. Ronald. H. McMillan has been appointed to the Board of Directors effective August 18, 2009. Dr. McMillan's extensive experience in the mining industry will be a considerable asset to Troymet as it advances its Golden Eagle and McClarty Lake projects and seeks new projects with high-value and large-tonnage potential to add to its portfolio. |
Dr. McMillan has over 45 years of experience as an exploration and mining geologist throughout Canada, North America and on several other continents and where he has undertaken detailed and regional property evaluations as well as estimation of mineral resources. He has served as Exploration Manager or Consulting Geologist with several well known mining companies including: Westmin Resources Ltd., Cameco Corp., Noranda Exploration Co. Ltd., Teck Exploration Ltd. and Falconbridge Nickel Mines Ltd. Several important gold deposits were discovered by exploration programs under his direction. He has also served on the Board of Directors and/or as VP Exploration of several junior mining companies. He has authored numerous papers on uranium exploration and uranium deposits presented to, among others, the Canadian Institute of Mining and Metallurgy, the American Nuclear Association, the Royal Society (of London), the Institution of Mining and Metallurgy and the Mineralogical Society of Canada. He has also served as a Board Member/Director with Canadian Institute of Mining and Metallurgy, Geological Association of Canada, B.C. and Yukon Chamber of Mines, and the Canadian Geoscience Council. Dr. McMillan is registered with the Association of Professional Engineers of Ontario and with the Association of Professional Engineers and Geoscientists of British Columbia. He is a Fellow of the Society of Economic Geologists, a Fellow of the Geological Association of Canada, a member of the Prospectors and Developers Association of Canada and the Association for Mineral Exploration BC (AME). The Company has granted options to purchase up to 225,000 common shares to Dr. McMillan. The options are exercisable at the exercise price of $0.10 per share for a term of 5 years expiring on August 18, 2014.
About Troymet Exploration Corp.
Troymet Exploration Corp. is a junior exploration company with precious and base metal projects located in British Columbia and Manitoba, Canada. The Company is actively seeking partners to advance its highly prospective properties and continues to seek new projects with high-value and large-tonnage potential to add to its portfolio. The Company's common shares trade on the TSX Venture Exchange. The Company's senior management and Board of Directors have extensive experience in the natural resource and mining sectors, as well as experience in the legal and corporate finance.
The Golden Eagle project, located in northern British Columbia, hosts widespread intrusion-related gold mineralization. The style and areal extent of mineralization at Golden Eagle strongly suggest an intrusion-related gold system similar to the Pogo (Alaska), Fort Knox (Alaska) and Dublin Gulch (Yukon) deposits of the Tintina Gold Belt. The property is also prospective for Eskay Creek style VMS/gold mineralization. The Company's current focus is the north block of the property where the gold bearing intrusive system is capped by sediments/mafic volcanics that host multiple zones of gold-silver-arsenic-antimony mineralization (e.g. Plateau, Skarn, West Gully, Cowboy, and West Draw zones) over a ~5 x 5 kilometre area. A recently completed re-interpretation of the technical data has lead to the identification of major gold targets, not previously recognized. The various gold zones are related to major fault systems and possible bulk-tonnage gold deposit(s). A series of compilation and interpretative maps may be viewed on the Company's website (www.troymet.com/s/GoldenEagle.asp). The Company plans a field program in September to identify high impact drill targets along and between the fault systems. To-date, there has been minimal drilling on the north block. For further information on the Golden Eagle Project, please see the SEDAR filed technical report entitled "Report on the 2006 Mineral Expenditure Program on the Golden Eagle Property, Atlin Area, Northwestern British Columbia", dated October 2, 2007, by Scott Casselman, B.Sc., P.Geo., of Aurora Geosciences Ltd.
The sulphide mineralization and associated alteration system at McClarty Lake is very similar to that associated with the Chisel Lake and the newly discovered Lalor Lake volcanogenic massive sulphide deposits of the Snow Lake area. The Company anticipates that Hudson Bay Exploration and Development Company Limited ("HBED") will conduct a diamond drilling program on the McClarty Lake project, Manitoba, after freeze-up. HBED is earning back a 20% interest in two claims from Troymet. After completion of the earn-in by HBED the two claims will be held in a joint venture between HBED (60%) and Troymet (40%). The mineralized conductor systems continues onto claims owned 100% by Troymet which adjoin the two claims subject to the HBED earn-in. Troymet is currently completing a compilation and re-interpretation of the technical data for its three, 100% owned claims to identify VMS drill targets. These claims have never been drilled and are considered to have a high discovery potential. For further information on the McClarty Lake project please see the SEDAR filed technical report entitled "2008 Technical Report on the McClarty Lake Property", dated June 11, 2008 by Rory Kutluoglu, B.Sc. of Equity Engineering Ltd. and qualified person, Alan H. Bailes, Ph.D., P.Geo. of Bailes Geoscience.
Kieran Downes, President and qualified person as defined by National Instrument 43-101 is responsible for and has verified the technical information provided in this release.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Troymet Exploration Corp.
Tel: 1-888-456-4952 or firstname.lastname@example.org
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 news release. This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports or prior exploration results, and future costs and expenses being based on historical costs and expenses, adjusted for inflation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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