April 10, 2017 - Equitas Resources Corp. (TSXV: EQT) (FSE: T6UN) (USA: EQTRF) (“Equitas” or the “Company”) is pleased to announce that, subject to the approval of the TSX Venture Exchange, Mr. Ioannis (Yannis) Tsitos, and Mr. Ian Talbot were appointed to the Board of Directors, and that the Company has accepted the resignations of Mr. David Hodge and Mr. Everett Makela as directors. The board would like to thank Mr. Hodge and Mr. Makela for their significant contributions to Equitas over the years, and wish them well in their future endeavours.
Mr. Tsitos is currently the President and a Director of Goldsource Mines Inc. and has over 26 years of experience in the mining industry, having spent 19 years with the global resources company BHP Billiton. A physicist-geophysicist, since leaving BHP Billiton he has been instrumental in the identification, negotiation and execution of numerous exploration agreements with juniors, majors, as well as with state exploration and mining companies. Mr. Tsitos has also been part of two discovery teams during his tenure with BHP Billiton in porphyry-copper and nickel-sulphide deposits.
Mr. Talbot is currently the President and CEO, and a Director of Arcus Development Group Inc. and has over 25 years of experience in the mineral exploration industry as both a lawyer and an exploration geologist. As a geologist, he has worked with both junior and major resource companies. As a lawyer, he has practiced exclusively in the areas of mining and securities law in private practice and as in-house counsel with BHP Billiton World Exploration Inc.
The Company is also pleased to announce that effective at market opening on Tuesday, April 18, 2017, the Company’s common shares will commence trading under its new name “Altamira Gold Corp.” (“Altamira”) and ticker symbol “ALTA” on the TSX Venture Exchange.
The Company has also entered into an agreement to modify the acquisition terms of the Garland Nickel project, originally described in its news release dated September 24, 2014. The amendment clarifies the terms of the final remaining option payment in light of the share consolidation announced December 31, 2016. The final option payment has now been agreed to be 592,592 shares of the Company. This amendment is subject to acceptance by the TSX Venture Exchange. Should the Company exercise the option, a portion comprising 148,148 shares will be issued to Ridge Resources Ltd, a company controlled by a director.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company’s advanced Cajueiro project has NI 43-101 compliant resources of 8.64Mt @ 0.77 g/t Au (for 214,000oz) in the Indicated resource category and 9.53Mt @ 0.66 g/t Au (for 282,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.78 g/t Au in oxides (for 78,400oz in saprolite) in the Inferred resource category.
On Behalf of the Board of Directors,
EQUITAS RESOURCES CORP.
President & CEO
Neither TSX Venture Exchange nor it 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.
Forward-Looking StatementsStatements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward looking statements.