SNS Silver Appoints Thomas F. Fudge Jr. As President and CEO
SNS Silver Corporation (“SNS” or the “Company”) (TSX VENTURE: SNS) is pleased to announce that it has appointed Thomas F. Fudge Jr. as its new President and Chief Executive Officer. Mr. Fudge, the Company’s former Vice President – Operations, replaces Neil Linder who is stepping down at the request of the Company’s Board of Directors. Mr. Linder has also resigned as a director. The Company would like to thank Mr. Linder for his years of service to the Company and wish him all the best in his future endeavours.
Mr. Fudge is a licensed professional mining engineer with over thirty years of experience in mining engineering, operations and project development. Mr. Fudge holds a Bachelor of Science degree in Mining Engineering from Michigan Technological University and continuing education in rock mechanics, mine ventilation, project management, organizational development and the negotiation and administration of collective bargaining agreements. Prior to joining SNS, Mr. Fudge was President and Executive Officer of Concentric Energy Corporation, a private development stage uranium company whose primary asset is the Anderson Mine in Yavapai County, Arizona. He was also previously employed by Hecla Mining Company for about twelve years, much of that time in the capacity of Vice President of Operations and President of Hecla’s Venezuelan subsidiaries. Mr. Fudge has extensive experience in the Coeur d’Alene Mining district including more than three years at the Sunshine Mine, located immediately to the east of the Company’s principal asset the Crescent Mine.
“I couldn’t be more excited about the prospects for the Crescent Mine and SNS,” stated Mr. Fudge, “the management team has done a remarkable job of acquiring and rehabilitating the historic Crescent Mine and making new silver discoveries. Our goal now is to accelerate those discoveries through the mine development process and create significant value for SNS shareholders.”
Although the Company will not be immediately replacing Mr. Linder on its Board of Directors, the Company will be actively seeking to recruit a new qualified independent director.
Further, the Company announces that it has granted a total of 490,000 stock options to various officers and employees. The options are exercisable for a period of 5 years at an exercise price of $1.25. A total of 350,000 stock options have been granted to senior officers of the Company including 250,000 to Mr. Fudge.
SNS Silver Corporation (TSX VENTURE: SNS) is an exploration mining company, whose primary asset is the 100% owned Crescent Mine located in Kellogg, Idaho – one of the largest silver districts in North America with over one billion ounces of silver produced. The property consists of 24 patented mining claims over approximately 350 acres, alongside 40 acres of surface rights. The Company currently has a comprehensive and well-funded drill program underway. Their main focus is on upper country surface drilling and underground drilling on the Alhambra and South Veins, as well as restoration of the Hooper Tunnel, drifting and cross-cutting.
FOR FURTHER INFORMATION PLEASE CONTACT:
Historical resource estimates quoted herein are based on data and reports obtained and prepared by previous operators. The Company has not completed the work necessary to independently verify the classification of the mineral resource estimates and is not treating the mineral resource estimates as National Instrument 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon. The Crescent Mine will require considerable further evaluation, which the Company’s management and consultants are in the process of completing.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Contacts: SNS Silver Corp. David Greenway Vice President, Corporate Development (604) 689-0896 or Toll Free: 1-800-663-4567 Email: dg@snssilver.com Website: www.snssilver.com
SOURCE: SNS Silver Corp.