19:04:44 EDT Thu 18 Apr 2024
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Geologix Explorations Inc
Symbol GIX
Shares Issued 161,942,893
Close 2017-03-01 C$ 0.085
Market Cap C$ 13,765,146
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Geologix Explorations appoints Kearvell exploration VP

2017-03-01 16:58 ET - News Release

Mr. Kiran Patankar reports

GEOLOGIX ANNOUNCES KEY MANAGEMENT APPOINTMENT AND ISSUANCE OF STOCK OPTIONS

Geologix Explorations Inc. has appointed Gillian Kearvell as the company's vice-president of exploration.

Ms. Kearvell is an exploration geologist with over 30 years of experience working with junior and senior exploration and mining companies throughout North America and Mexico. She has worked exclusively in Mexico since 1994, during which time she co-discovered Teck Resources' San Nicolas volcanogenic massive sulphide deposit in Zacatecas state, managed the prefeasibility field program at Goldcorp's Los Filos mine and led Teck's exploration team that developed the Guerrero gold belt (GGB) exploration model, resulting in the El Limon-Guajes and Cerro Media Luna discoveries, currently operated by Torex Gold. She was most recently vice-president of exploration at Newstrike Capital, where she led the Ana Paula project discovery team until Newstrike's acquisition by Timmins Gold in 2015. Prior to that, Ms. Kearvell worked as vice-president of corporate development for Aurea Mining, where she introduced and promoted the GGB to capital markets, among other duties. Ms. Kearvell resides in Guadalajara, Mexico.

Kiran Patankar, Geologix's president and chief executive officer, stated: "Gillian's extensive experience developing exploration programs and managing teams in Mexico that have resulted in several world-class discoveries will be a tremendous asset to the company as we leverage our first-mover advantage in the highly prospective yet underexplored porphyry belt hosting our Tepal gold/copper project. Her keen passion for making new discoveries fits well with our corporate objectives. We are delighted to welcome Gillian to the management team at Geologix and to add a second leg of growth to the company through her focused exploration approach."

In connection with Ms. Kearvell's appointment, the company has agreed to issue Ms. Kearvell, subject to TSX Venture Exchange approval, 400,000 common shares of the company and grant her a common share purchase option on 500,000 common shares for five years at eight cents per share. The option will vest, as to 25 cents on each of granting, on June 1, 2017, Sept. 1, 2017, and March 1, 2018.

The company also announces that it has granted incentive stock options to its directors and employees, exercisable to purchase up to 3,125,000 common shares until March 1, 2022, at an exercise price of eight cents per share. The incentive stock options were granted in accordance with the company's stock option plan.

About Geologix Explorations Inc.

Geologix is a mineral exploration and development company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host profitable mining operations. The company's primary focus is the Tepal gold/copper project in Michoacan state, Mexico.

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