Vancouver, British Columbia – December 11, 2018 – Fremont Gold Ltd. (FRE: TSX-V; FR2: FSE: USTDF: OTC) (“Fremont” or the “Company”) is pleased to announce that it has appointed Douglas Hurst to its Advisory Board. Mr. Hurst was the Executive Chairman of Northern Empire Resources Corp, which was recently acquired by Coeur Mining Inc. in a transaction valued at approximately $117 million. Northern Empire’s principal asset was the Sterling Gold Project located in the Walker Lane trend, Nevada.
“We are delighted to name Doug to our Advisory Board,” said Blaine Monaghan, CEO of Fremont. “He is one of those rare mining industry professionals that has both technical and capital markets expertise. And with a recent Nevada transaction under his belt, I’m certain that Doug’s knowledge and insight will add a lot of value to our Company. I look forward to working with Doug and Derek White, our other Advisory Board member, to create shareholder value.”
Douglas Hurst biography
Mr. Hurst has over 30 years of experience in the mining and natural resource industries, having acted as geologist, consultant, mining analyst, senior executive, and board member. Doug was previously a mining analyst with McDermid St. Lawrence and Sprott Securities and a contract analyst to Pacific International Securities and Octagon Capital. Mr. Hurst was one of the founders of Newmarket Gold Inc., which was acquired by Kirkland Lake Gold Ltd. for $1.0 billion in 2016. In addition, Doug was a founding executive of International Royalty Corporation, which was acquired by Royal Gold for $700 million. Mr. Hurst holds a Bachelor of Science in geology from McMaster University.
Small Cap Invest Ltd.
Fremont is also pleased to announce that it has retained Small Cap Invest Ltd. (“SCI”), a Frankfurt-based business development and PR firm. SCI will organize a number of European roadshows for the Company and will help to build and maintain relationships with potential European investors. Under the terms of the agreement, the Company will pay SCI $3,500 per month for a 12-month term (prepaid), commencing in January 2019. In addition, Fremont will issue stock options to SCI as set out below. Alexander Friedrich is the President and Chief Executive Officer of SCI.
Grant of Stock Options
Fremont has granted 1,075,000 incentive stock options to certain officers, directors, advisory board members and consultants of the Company, including 150,000 incentive stock options granted to SCI. The incentive stock options have an exercise price of $0.15 per share and will vest in five equal tranches every six months. The stock option grants are subject to regulatory approval.
About Fremont Gold
Fremont’s mine-finding management team has assembled a portfolio of high-quality gold projects in Nevada with the goal of making a new discovery. Fremont’s Gold Bar and Gold Canyon are past producing gold mines adjacent to McEwen’s Gold Bar project, where mine construction is underway. Other projects include North Carlin, Goldrun, Hurricane, and Roberts Creek. We are aligned with our shareholders: Insiders own approximately 20% of Fremont.
On behalf of the Board of Directors,
Telephone: +1 604-676-5664
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Forward looking statements
Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as "forward-looking statements". The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Actual results and future events could differ materially from those anticipated in such statements. Fremont undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.