07:53:16 EDT Wed 26 Apr 2017
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Darnley Bay Resources Ltd (2)
Symbol C : DBL
Shares Issued 126,389,725
Close 2017-01-19 C$ 0.34
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Darnley Bay appoints McGregor CFO, Mannard finance VP

2017-01-19 15:28 ET - News Release

Mr. Jamie Levy reports

DARNLEY BAY STRENGTHENS MANAGEMENT TEAM

Darnley Bay Resources Ltd. has appointed three new important members to its management team following the successful acquisition of the Pine Point zinc project near Hay River, NWT.

Halina McGregor, BCom, CPA, CA -- chief financial officer

Ms. McGregor has extensive experience in corporate finance and managing the finance functions of several large corporations, including a number in the resource field. In 1988, she was appointed chief financial officer of the International Explosive Business of Imperial Chemical Industries (ICI), serving the mining and construction industries in over 15 countries and with $1.5-billion in revenue. Positions later in her career included several years as chief financial officer of both Sherritt International Corp., a nickel and cobalt mining company, and Goldcorp Inc., a gold producer. Ms. McGregor is a member of the Ordre des CPA du Quebec, the Chartered Professional Accountants of Ontario, Institute of Corporate Directors and Financial Executives International.

With the appointment of Ms. McGregor as chief financial officer, current Darnley Bay chief financial officer Patricia Mannard has been appointed vice-president, finance, of the company.

Timothy Smith, PEng -- vice-president, operations

Mr. Smith is a professional metallurgical engineer with 38 years of experience opening and operating mines and mills across North America. After graduating from McGill University, Mr. Smith started work at Teck's Afton copper mine and smelter in British Columbia, he rose to the position of smelter superintendent, after which he was appointed to increasingly senior positions within the Teck organization, including senior roles at the Bullmoose coal mine in British Columbia and the David Bell gold mine in Ontario. He became manager of the Sullivan concentrator for Cominco in Kimberly, B.C., after which he became operating manager for seven years of the Red Dog mine in Alaska. After that, he became general manager of the Montana Tunnels gold mine in Montana and then vice-president, operations, for Apollo Gold Corp. during construction of the Black Fox mine in Ontario. More recently, he returned to Montana Tunnels to assist in returning that mine to production.

Dr. Judith Dudley, PhD -- vice-president, environment

Dr. Dudley is a biologist with more than 30 years of comprehensive experience in water quality and water resources management, environmental analysis and permitting, and environmental impact analysis. From 2013 to 2014, she was vice-president of environmental and community affairs with Tamerlane Ventures, the previous owner of the Pine Point project. Previous to that, she was principal scientist with Amec E&I and its predecessor Mactec for nine years. At Amec, she managed complex environmental baseline studies, ecological risk assessments and environmental permitting efforts, in addition to serving as the senior technical scientist on projects managed by others. Dr. Dudley is a certified lake manager with the North American Lake Management Society and is certified as a project manager with the Canadian Bioassessment Information Network (CABIN) program.

Jamie Levy, president and chief executive officer of Darnley Bay, commented, "These three individuals are a welcome addition to our growing team of experienced mining professionals that will enhance our objective of bringing the Pine Point zinc mine back into production."

The appointment of Ms. McGregor is subject to clearance of a PIF (personal information form) by the TSX Venture Exchange.

The company further announces that a total of 1.5 million options to purchase common shares of the company were granted on Jan. 18, 2017, to directors, officers, employees and consultants at an exercise price of 40 cents per share, expiring on Jan. 18, 2022, all subject to the terms and conditions of the company's stock option plan.

We seek Safe Harbor.

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