Millstream closes Airport sale, names Mlot as director Millstream closes Airport sale, names Mlot as director
Millstream Mines Ltd (2) (C:MLM)
Shares Issued 41,763,620
Last Close 4/20/2016 $0.09
Thursday April 21 2016 - News Release
Mr. Ernest Harrison reports
MILLSTREAM CORPORATE UPDATE
Millstream Mines Ltd. has completed a sale agreement concerning its Sudbury Airport properties, located in close proximity to the southeastern rim of the Sudbury basin igneous complex. The agreement stipulates that Millstream will surrender all rights of ownership to the two groups of claim blocks known as the Airport and Airport East properties in exchange for an overriding 2.5-per-cent net smelter return royalty. The company decided to implement this deal on the grounds that it views the Airport group of claims as a non-core holding and with the aforementioned deal in place it will now be freed up to focus all of its efforts, time and attention on its Potter and Tamarack assets.
The company is pleased to announce that it welcomes to the board of directors Stephen G. Mlot, PEng, who brings along with himself experience of 35 years at senior levels of corporate management, mine planning and construction, project management, mine development, and gold production. A result-oriented team leader with proven problem-solving and decision-making skills, he has an established record of moving prospective mineral projects from the concept stage, through to the advanced exploration and resource definition stage, onto prefeasibility, then feasibility and production, and then finally to mine closure. He has held posts as president and chief executive officer of Carlisle Goldfields Ltd.; as president, director and chief operating officer of Patricia Mines Inc.; as president and general manager of Canadian Mineforce Inc.; and as rehabilitation engineer with the Ontario Ministry of Northern Development and Mines. Mr. Mlot's board appointment is subject to TSX Venture Exchange approval.
The company also announces that Marty Martinello is no longer associated with the company for personal reasons.
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