Arcus Development Group Inc.: Corporate Update
30 Novembro 2010 - 11:00AM
Marketwired
Arcus Development Group Inc. ("Arcus") (TSX VENTURE: ADG) provides
the following update:
Changes to Board of Directors
Arcus is pleased to announce the appointment of William
Wengzynowski and Marc Blythe to its board of directors. Mr.
Wengzynowski is a registered Professional Engineer in British
Columbia and holds a Bachelor of Applied Sciences degree in
geological engineering from the University of British Columbia. He
is currently a partner in the geological consulting firm of Archer,
Cathro & Associates (1981) Limited and has spent the majority
of his professional career in Yukon mineral exploration. Most
recently as the senior project geologist, he directed the 2010
operations at ATAC Resources Ltd.'s Rau gold project. In 2000, he
was the recipient of the Yukon Prospector of the Year award.
Marc Blythe is a registered Professional Engineer in British
Columbia and holds a Bachelor of Mining Engineering degree from the
Western Australian School of Mines. Mr. Blythe also holds a Master
of Business Administration degree from La Trobe University in
Melbourne. He holds a Western Australian First Class Mine Manager's
Certificate of Competency and has successfully managed mines for
both Placer Dome Inc. and WMC Resources Ltd. (formerly Western
Mining Corp.). Mr. Blythe is currently the President and CEO of
Tarsis Resources Ltd. and the Vice President of Mining with Almaden
Minerals Ltd.
"We are very pleased that Bill and Marc have agreed to join the
Arcus board. Both are well respected within the mineral exploration
industry for their technical expertise and significantly increase
the geological capacity of the Arcus management team," reported Ian
Talbot, the Arcus President.
Arcus also announces that Charles Vidalin, one of the founding
directors, has resigned from the company board. Mr. Vidalin has
recently accepted a position with a national investment firm and in
his new role is no longer able to sit on the boards of public
companies. "On behalf of Arcus, I would like to thank Chuck for the
three and a half years he has contributed as a board member. We
look forward to working with him as a member of the local brokerage
community," stated Grant Longhurst, the Arcus Vice President.
Dawson Gold Project
Arcus announces that it has increased the size of its Touleary
property through the staking of an additional 458 mineral claims.
Including additional Dan Man claims staked earlier in 2010 (see
June 16, 2010 news release), the four claim blocks comprising the
Dawson Gold project now collectively consist of 1,348 mineral
claims and cover an area of 251 square kilometres.
La Ventosa Project
Arcus announces that its option to acquire an interest in La
Ventosa epithermal gold prospect in Oaxaca, Mexico has been
terminated. The option was held under agreement with Riverside
Resources Inc. ("Riverside"). Results from the 2010 work program
did not support further expenditures by Arcus and it has not
retained any interest in the project.
The Arcus business model continues to include gold exploration
in Mexico. Arcus has developed an excellent working relationship
with Riverside and has been very pleased with Riverside's cost
effective execution of field programs. A review of potential
Mexican gold projects by Arcus management is ongoing.
Incentive Stock Options
Arcus announces that it has granted incentive stock options to
various directors, officers and employees of consultants, entitling
them to purchase up to a total of 2,360,295 shares at a price of
$0.17 per share for a period of five years.
On behalf of Arcus Development Group Inc.
Ian J. Talbot, President & CEO
CAUTIONARY NOTE: This news release includes certain
"forward-looking statements". Other than statements of historical
fact, all statements included in this release, including, without
limitation, statements regarding future plans and objectives of
Arcus Development Group Inc., are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Arcus Development Group Inc.'s
expectations are the risks detailed herein and from time to time in
the filings made by Arcus Development Group Inc. with securities
regulators. Those filings can be found on the Internet at
http://www.sedar.com.
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 release.
Contacts: Arcus Development Group Inc. Grant Longhurst Corporate
Communications (604) 506-2445 (604) 688-2578 (FAX)
grant@arcusdevelopmentgroup.com www.arcusdevelopmentgroup.com Arcus
Development Group Inc. Ian J. Talbot President & CEO (604)
687-2522 (604) 688-2578 (FAX) ian@arcusdevelopmentgroup.com
www.arcusdevelopmentgroup.com
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