Mr. Joe Campbell reports
TERRAX APPOINTS DAVID SUDA AS PRESIDENT AND CEO
David Suda has been appointed as president and chief executive officer of Terrax Minerals Inc., effective immediately. Mr. Suda will work closely with Joseph Campbell, the executive chairman of Terrax, to help lead the company toward continued success in discovery while enhancing the company's profile within the investment community.
"David Suda's appointment is an exciting milestone and comes at an integral time for Terrax," said Joe Campbell, executive chairman. "David's people-focused leadership style and capital markets experience will improve the company's ability to finance and fully capitalize on Terrax's exploration successes and exceptional opportunities."
Dr. Suda has over 11 years of capital markets experience. He graduated with honours from York University with a bachelor's degree in environmental studies. Most recently, Mr. Suda was head of trading and managing director at Beacon Securities. He has established relationships with investors including institutional managers and public companies. His extensive capital markets experience with a focus on public resource-based companies will provide Terrax access to a skill set which includes marketing, corporate strategy and investment banking.
Mr. Suda stated: "It is an exciting and unique opportunity to work with a gold exploration company with so much upside and access to infrastructure in a favourable mining jurisdiction such as Terrax. The work of the team led by Joe Campbell and the commanding land position that has been assembled around two of the highest-grade historic gold mines in Canada are the reasons I have decided to join the company. I look forward to working with such a strong technical team to broaden the profile, heighten interest and provide increased value to shareholders."
Mr. Campbell further stated: "David brings new energy, vision, strategic thinking and discipline to Terrax as we move towards achieving our long-term goal of establishing a major world-class Canadian gold district. In addition, David's background in environmental studies will ensure that we maintain and grow our strong relationship with the community in Yellowknife. I am excited to mentor David in his new role, and to follow his lead on investment and corporate strategy."
Terrax Minerals has agreed, subject to regulatory approval, to grant incentive stock options to Mr. Suda on 1.25 million common shares at an exercise price of 41 cents per share for a period of three years from the date of grant. These options will vest over an 18-month period.
To accommodate Mr. Suda's appointment, Stuart Rogers has agreed to step down as president and to serve as chief financial officer, replacing Mark Gelmon, who will be leaving the company at the end of June.
About the Yellowknife City gold project
The Yellowknife City gold (YCG) project encompasses 772 square kilometres of contiguous land immediately north, south and east of the city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Terrax controls one of the six major high-grade gold camps in Canada. Being within 10 km of the city of Yellowknife, the project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydroelectric power and skilled tradesmen.
The YCG project lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project's potential as a world-class gold district.
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