Moneta announces new appointment to Board of Directors

TORONTO, May 18, 2017 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) ("Moneta") is pleased to announce the appointment of Dr. Kevin B. Heather to the Board of Directors, subject to standard TSX approval.

Ian C. Peres, President and CEO stated, "The addition of Kevin to the Board of Directors will add significant and relevant project exploration and development experience and in-depth technical knowledge to Moneta. We look forward to his contribution and insight on the continued exploration of Golden Highway and our overall land package."

Dr. Heather commented, "I am excited to be joining the Moneta board to support the advancement of their exceptional land package to the next stage of discovery and value/wealth creation for all stakeholders. The Moneta land package is one of the last, large land positions along the world class Destor Porcupine structural corridor and already hosts a significant gold resource, but it is my firm belief that there is much more gold to be found and I look forward to contributing my technical knowledge to discover those additional ounces."

Kevin B. Heather, B.Sc. (Hons), M.Sc., Ph.D., is an exploration geologist with 40 years of field experience in North and South America and has a demonstrated track record of delivering high-quality technical work that has led to value-wealth creation in the junior exploration sector. Dr. Heather is a Fellow, Councillor and Honorary Lecturer for the Society of Economic Geologists (SEG) and is a co-founder and Chairman of the Chilean-based charity "Fundación Mineros Contra El Cancer".

Dr. Heather was co-founder and is currently the Chief Geological Officer and Technical Committee Chairman for Regulus Resources Inc. (TSX-V: REG) and is responsible corporate oversight of the technical aspects of the company's exploration activities in addition to building a technical committee comprised of strong geological, metallurgical, and engineering professionals to advance the company's projects in Peru, Argentina and Nevada.

Dr. Heather was also a founding officer and former Vice President Geology of Antares Minerals Inc. (TSX: ANM) where he directed the geological mapping, target generation, planning, supervision, and execution of exploration programs that led to the discovery of the high-grade Haquira East deposit in Southern Peru. He was also involved in the overall development of the Haquira Cu-Mo-Au porphyry project which was sold to First Quantum Minerals in December 2010 for C$650 million.

From 1985-1992, Dr. Heather was employed as a Senior Geoscientist by the Ontario Geological Survey, where he was a team leader for various large, field-based regional- and mine-scale geological mapping programs in various Archean greenstone belts of Northern Ontario. During this time, Dr. Heather was part of a team specializing in the geology of Archean mesothermal lode-Au deposits and co-authored several publications. From 1992-1997, Dr. Heather was a Senior Geoscientist for the Geological Survey of Canada, based in Ottawa, and was responsible for a 5-year, multidisciplinary, regional geological mapping program in the mineral prolific, Archean-aged Abitibi-Swayze greenstone belt of Canada. This work formed the basis of his doctoral dissertation at University of Keele (2001). In 1997, Dr. Heather joined Barrick Gold Corp. in Chile (Barrick Chile Ltda.) as a Senior Exploration Geologist involved in exploration for high- and low-sulphidation epithermal Au deposits in the high-Andes of Chile and Argentina. From 1997-2002, Dr. Heather mapped and explored within the prolific El Indio-Tambo mineral district and the world-class Pascua-Lama Au-Ag project in central Chile.

During 2002-2003, Dr. Heather completed a district-scale, geological/structural mapping and target generation program for Anglogold at their Cerro Vanguardia low-sulphidation Au-Ag deposit in Patagonia, Argentina. This work lead to the discovery of tens of kilometres of additional Au-bearing vein structures not previously recognized or drilled.

About Moneta
Moneta holds a 100% interest in 5 core gold projects strategically located along the Destor Porcupine Fault Zone in the world class Timmins Camp with over 85 million ounces of past gold production. The Golden Highway Project covers 12 kilometres of a highly prospective volcanic/sedimentary belt along the Destor Porcupine Fault Zone and currently hosts a NI 43-101 resource estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t Au) plus 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres. 

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.

This news release includes certain forward-looking statements concerning the closing of the Offering, the use of proceeds of the Offering, future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

SOURCE Moneta Porcupine Mines Inc.