Magellan Gold Corporation (OTCBB: MAGE) (“Magellan” or “the Company“) is pleased to announce the appointment of W. Pierce Carson, PhD, as President and Chief Executive Officer and a member of the Board of Directors. Previously Dr. Carson was President of Gulf & Western Industries, Inc., the Company’s 85% owned minerals subsidiary. Dr. Carson is an unusually well-qualified mining executive who has managed the discovery, financing, development and operation of mining properties internationally and domestically in an accomplished career spanning over forty years. Among the companies he has worked for are Exxon Minerals Company, Kennecott Copper Corporation, Nord Pacific Limited and Santa Fe Gold Corporation. Dr. Carson holds a PhD in Economic and Structural Geology and an MS in Ore Deposits from Stanford University, and a Bachelor’s Degree in Geology from Princeton University.
The Company has entered into a one-year Employment Agreement with Dr. Carson to secure his services.
Mr. John C. Power, formerly President of Magellan, will continue in the roles of Chief Financial Officer and Director. Mr. Power commented, “We are delighted to welcome Pierce and are fortunate to have the benefit of his vast experience in finding and developing new mines, especially at this critical time in the strategic growth of our Company.”
Dr. Carson said, “Magellan’s Silver District Project represents a significant economic opportunity for the Company and its stockholders. As CEO, my initial focus will be on advancing the Silver District property through the exploration stage and toward development and production. We also will be assessing new mineral opportunities with a view to acquiring additional properties, in particular quality advanced stage projects or properties with potential for early production.”
About the Silver District Project, La Paz Co., Arizona
About Magellan Gold Corporation
Magellan Gold Corporation (OTCBB: MAGE) is a Nevada corporation engaged in the acquisition and exploration of precious metals mineral properties. The Company holds its properties through its 85% owned subsidiary Gulf & Western Industries, Inc.
The Silver District Property consists of 94 unpatented lode mining claims, 6 patented lode claims, an Arizona mining lease of 335 acres and 23 unpatented mill site claims, totaling over 2,000 acres. The property covers the heart of the historic Silver District in La Paz County, approximately 50 miles north of Yuma in southwest Arizona. Magellan completed the acquisition of the Silver District in September 2014.
To learn more about Magellan Gold Corporation, visit http://www.magellangoldcorp.com.
“Mineralized material” as used in this press release, although permissible under the SEC’s Industry Guide 7, does not indicate “reserves” by SEC standards. We cannot be certain that any deposits at our exploration properties will ever be confirmed or converted into SEC Industry Guide 7 compliant “reserves.” Investors are cautioned not to assume that all or any part of the disclosed mineralized material estimates will ever be confirmed or converted into reserves or that mineralized material can be economically or legally extracted.
Forward Looking Statements
This release contains “forward-looking statements.“ Such statements are based on good faith assumptions that Magellan Gold Corporation believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Factors that could cause actual results to differ from those anticipated are discussed in Magellan Gold Corporation‘s periodic filings with the Securities and Exchange Commission.
Magellan Gold Corporation
Pierce Carson +1(505) 463-9223
John Power +1(707) 884-3766