TORONTO, ONTARIO--(Marketwire - Jan. 7, 2013) - QMX GOLD CORPORATION (QMX.TO)(QMXGF) ("QMX Gold" or the "Company") announces that Mark Eaton has resigned as a director on the board of directors of the Company effective December 31, 2012 (the "Resignation") to comply with internal governance standards with respect to the number of boards on which certain officers should sit.
The Company would like to thank Mr. Eaton for his contribution to the Company's board of directors during his tenure.
About QMX Gold
QMX Gold Corporation is a Canadian publicly traded mining company focusing on mine development and exploration in Quebec and Manitoba. The Company is listed on the Toronto Stock Exchange and effective July 5, 2012, began trading under the symbol "QMX", and trades in the United States on the Over the Counter QX International platform under the symbol "QMXGF".
QMX Gold continues to operate in the Val-d'Or area with production estimated at 18,000-20,000 ounces of gold per year. The Company has also begun to ramp-up pre-production activities at its property at the Snow Lake Mining Camp which has a Measured and Indicated Mineral Resource of 5.4 million tonnes grading 4.45 g/t Au for approximately 720,000 oz of gold. Snow Lake Mine is expected to produce 80,000 ounces of gold per year. Full details are outlined in the Technical Report titled "Snow Lake Mine Re-activation Project" dated December 10, 2010 and prepared by: Andre Roy (Eng.) Jamie Lavigne (P.Geo), David West (P.Eng), Ian Ward (P.Eng), Matthew Parfitt (P.Eng), Mark Bednarz (P.Geo), which is available on the SEDAR profile of the Company at www.sedar.com.
Technical programs and scientific and technical information included in this release have been supervised, compiled, reviewed and approved by David Rigg, P.Geo., the Chairman of the Company and a Qualified Person as defined under NI 43-101.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements (express or implied) regarding the anticipated effects or impact of the Resignation on the Company or its business and/or with respect to the projected use of proceeds, the ability to secure alternative financing options, the timing and amount of future exploration and development of the property, the timing and amount of future production, and the future financial or operating performance of QMX Gold and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.