Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
LONGUEUIL, QUÉBEC–(Marketwire – Sept. 21, 2012) – Bear Lake Gold Ltd. (TSX VENTURE:BLG) (the “Company”) announces that Francois Viens will resign as president, chief executive officer and director of the Company at the end of 2012. Mr. Viens will continue to provide consulting services to the Company from time to time. A search for a new president and CEO will begin under the direction of the Company’s executive chairman. The Board wishes to thank Mr. Viens for his contributions, and wishes him well in his future projects.
As part of the termination arrangement with Mr. Viens and his continuation as a consultant, the Company has agreed to issue to Mr. Viens 1,000,000 stock options under the Company’s Stock Option Plan, of which 500,000 will vest only under certain conditions. The exercise price of the options is $0.10 per share. The grant of options is subject to approval of the TSX Venture Exchange.
About Bear Lake Gold
The Company’s Larder Lake gold project located on the Cadillac-Larder Lake Break in north-eastern Ontario is being explored under an option and joint venture agreement with Gold Fields Abitibi Exploration Corporation (a subsidiary of Gold Fields Limited). In 2011, the Company announced the completion of a NI 43-101 compliant mineral resource on the Bear Lake and Cheminis properties. Additional information about the Company is available on its website at www.bearlakegold.com and on SEDAR at www.sedar.ca.
Neither 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.
