May 12th, 2016
Silver Predator Announces New Board Chairman
Toronto, Ontario, May 12th, 2016: Silver Predator Corp. (TSX.V: SPD) (the “Company” or “Silver Predator”) is pleased to announce that Mr. Nathan A. Tewalt has been appointed to succeed Mr. William M. Sheriff as the Chairman of Silver Predator’s Board of Directors. Mr. Sheriff resigned from the Company’s Board of Directors effective May 10, 2016 in order to honor other obligations requiring significant amounts of his time. Mr. Tewalt has been a director of Silver Predator for over four years and was a former CEO of the Company, thereby putting him in a strong position to help move the Company forward with its Springer and Taylor flagship assets. Mr. Piers McDonald has also resigned from the board to pursue his other interests effective May 12, 2016.
Mr. Tewalt has over 30 years of experience in international exploration and executive management positions, with a focus on discovery in the western United States. More recently, he was a founder of Nevgold Resource Corp in 2007 (later merged with Silver Predator) and Colombian Mines in 2006, and served as the CEO for both companies. In 2006, as President and CEO of Standard Uranium, Mr. Tewalt completed a private company acquisition in Texas that resulted in the uranium explorer progressing from a private start-up in 2003, gaining a public listing in 2004, and winding up as a successful buy-out in 2006 by Energy Metals Corporation (subsequently acquired by Uranium One for US $1.8 billion). Prior to Standard Uranium, he was the co-founder and CEO of Great Basin Gold, where he and his exploration team discovered the Midas-style vein system and completed the Hollister ‘Ivanhoe’ Mine acquisition.
Michael Maslowski, Silver Predator’s Chief Executive Officer, commented “On behalf of the entire Board of Directors, I would like to thank Mr. Sheriff and Mr. McDonald for their guidance and dedication to the company over the years and wish them all the best with their ongoing and future ventures. In turn, we would like to welcome Mr. Tewalt as new Board Chairman”.
Silver Predator Corp.
Silver Predator owns the Springer Tungsten Mine and Mill Complex where the current mineral resource estimate(1) is 246,117 Indicated tons at an average grade of 0.43% containing 106,113 STU’s (short ton units) of WO3 (tungsten trioxide) and 1,768,968 Inferred tons at an average grade of 0.48% containing 852,884 STU’s of WO3. The Springer facility was originally constructed by General Electric Corp. in the late 1970s and was operational for a few months in the early 1980s and then due to low tungsten prices the project was put on care and maintenance. Golden Predator Corp. modernized the mill in 2007-2008.
The Company also holds the Taylor silver-gold project in Nevada. The Taylor project hosts a current resource estimate (2) , is open to expansion, and is located in a district that has identified the potential for discovery of additional silver and gold deposits.
Mr. Michael Maslowski, CPG, a Qualified Person as defined by National Instrument 43-101 and a consultant for the Company, has reviewed, verified and approved disclosure of the technical information contained in this news release.
For additional information:
Nate Tewalt Chairman
(208) 635 5415
1) Silver Predator Corp News Release dated February 12, 2016
2) National Instrument 43-101 Technical Report; NI 43-101 of the Taylor Silver Project, White Pine County, Nevada, USA by Thomas H. Chadwick, Dean D. Turner, and Patrick J. Hollenbeck dated March 18, 2013 filed on SEDAR.
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No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.