April 18, 2017
TSX Venture Exchange
Trading Symbol: BHK.V
Vancouver, April 18, 2017 – BHK Mining Corp (TSX-V: BHK) (“BHK Mining” or “The Company”), today announces changes to its Board of Directors and Management.
Mr. Timothy Sudjie (Chairman) announces that Mr. Stephen Walters, MSc has been appointed President, CEO and Director of the Company, Mr Wylie Hui, CPA, CA has been appointed Chief Financial Officer of the company and Mr. Nick Stamedes, B.Eng has been appointed VP Development of the Company. All changes are effective immediately.
Stephen Walters is a geologist with over 35 years’ experience in mineral exploration in Canada, Africa and South East Asia. Stephen has previously acted as Exploration Manager and Director of a number of Canadian listed companies. Stephen brings to the Company many years of experience in raising capital for early stage exploration companies and experience as a corporate director. In 2008, Stephen co-founded One Asia Resources and raised over $50 million in private equity for the company. Stephen has a history of exploration success being credited with the discovery of 2 major gold deposits totaling over 5 million ounces of gold.
Wylie Hui is a Chartered Professional Accountant (CPA, CA) and Certified Public Accountant (Illinois), and has over 20 years of professional experience. Prior to joining the Company Wylie was CFO at Tintina Resources Inc. based in Vancouver and has also acted as CFO of SolidusGold Inc. and AsiaBaseMetals Inc. Mr. Hui was formerly a Senior Manager of Ernst & Young LLP’s Transaction Support team based in San Francisco, USA, providing services to corporate and private equity clients.
Nick Stamedes is a Mining Engineer with over 30 years' experience. He brings to the Company extensive skills in mine management, feasibility studies, pit optimisation, mine development and mine planning. He has worked at 4 mining operations during their construction phase in Australia, Papua New Guinea and in Indonesia. He has experience in both owner mining and contractor scenarios in senior management and director roles.
Timothy Sudjie, Chairman of BHK Mining stated, “We are very pleased today to announce these Board and Management changes. BHK Mining is in a position of growth and we anticipate these experienced individuals will be invaluable during this important period of development for the Company.”
On his appointment, Mr. Walters stated “Having recently visited the project site in Gabon and met with the relevant government officials, I look forward to guiding the Company's projects through the exploration and project development phases in collaboration with management, Board members and our major shareholders. We expect to shortly announce an appropriate strategy to rapidly advance the Company projects.”
The Company also announces it has entered into a loan agreement with a company majority owned by Timothy Sudjie (Chairman). The loan agreement provides for the sum of US$250,000 and bears interest at to LIBOR 3-month plus 0.50% per annum.
BHK is a TSXV-listed junior exploration company with operations primarily in Gabon at the Ndjole Licence, where a new discovery of high-grade, near-surface manganese mineralization has recently been made. In addition to the manganese mineralization, BHK has been following up high-grade gold zones previously discovered at the Ndjole License by the former owner of the property. BHK’s operations at the Ndjole Licence open the door to further opportunities in this Central African country, which is among the top four manganese producers in the world.
On behalf of the Board of Directors:
For further information:
Neither the 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.
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Such forward looking information may include, among other things, statements regarding the potential exploration and development of the Ndjole Licence, the future plans and objectives for the Ndjole Licence, future opportunities in Gabon, the negotiation and completion of transactions and the future operating results and economic performance of the Company. Such forward-looking information and statements are based on a number of assumptions, including that the exploration and development activities at the Ndjole Licence will continue as planned and that the Company will be able to continue raising the necessary capital to finance its operations. Although we consider these assumptions to be reasonable at the time of preparation, they may prove to be incorrect. Readers are cautioned that the actual future exploration results, operating results and economic performance of the Company are subject to a number of risks and uncertainties. These risks include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling and exploration results and other geological data, the potential for unsuccessful exploration results, changes in project parameters as plans continue to be refined, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, defects in title at the Ndjole Licence, the availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, political instability, regulatory changes, delays in receiving government approvals, changes in general economic, market or business conditions and other risks as may be described herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. For more exhaustive information on these risks and uncertainties you should refer to our annual filings which are available on www.sedar.com.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law.