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Discovery Ventures Inc (DVN.V). Announces the Appointment of Walter Marting as a Director
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce the appointment of Walter (Del) Marting, Jr. as a Director of the Company.
Mr. Marting brings 35 years of experience in mining and mine development to the Company. He obtained his BA from Yale University in 1969, was a member of the Military: US Navy SEAL Team Two Little Creek, VA, LTJG Platoon Officer between 1970 - 1973, and obtained his MBA from Harvard Business School in 1975.
From 1975 - 1977 he held the position of Production Supervisor at Climax Molybdenum Company, Leadville, CO., a division of Amax, Inc., (now part Freeport McMoran, following Cyprus and Phelps Dodge acquisitions). His responsibilities included supervision of underground and open pit mining at the world's largest primary molybdenum producing property. He also had responsibility for production crews and administrative functions involving production planning, budgeting and union negotiations at a facility that employed 1,200 miners, produced 60 million pounds annually of molybdenum and copper byproducts and had annual revenues of $180 million.
From 1977 - 1982 he held the position of Director of Planning at Amax, Inc., Greenwich CT. where he was responsible for operations at Amax's existing worldwide molybdenum properties, and where he was additionally responsible for all strategic planning related to acquisitions and prospective acquisitions of exploration projects. He played an integral role in the planning and permitting of the technically complex Mt. Emmons molybdenum property in Crested Butte, CO. His duties also included the supervision of Amax's annual budget and production planning at two Colorado properties, the Climax Mine and the Henderson Mine. Amex's molybdenum division had annual revenues of $250 million and employed over 5,000 people worldwide.
From 1982 - 1984 Mr. Marting was Vice President of Finance and Administration of Amax's European subsidiary, located in Paris, France. He was responsible for all financial, treasury, accounting, control and administrative functions. Operations included production facilities in Holland, UK and Italy with sales and exploration offices in Germany, Sweden, and Africa. Total sector staffing exceeded 1,200 people.
From 1984-1986 Mr. Marting was President and CEO of the Lucky Chance Mining Company, a Reno, Nevada based gold and silver mining company with properties located in California, Nevada and Arizona. The Company successfully reopened and restarted production facilities at the famed 16-1 mine in Allegheny, CA. This property dates back to California's original gold rush period and was noted for its very high-grade ore - 1.0 au ounce/ton - and for the specimen quality of its gold ore. The mine was eventually sold to Transwestern Mining Co., a subsidiary of New Mexico Power of Albuquerque, NM.
From 1986 - 1992 Mr. Marting was a Principal with L.J. Kaufman and Co, an investment banking firm located in Los Angeles, CA. His primary focus was on venture capital funding of private, early stage companies in aviation and health care.
From 1992 - Present, Mr. Marting is a Principal and Founder of M and M Advisors, Inc., a privately held company located in Reno, Nevada that provides investment banking and financial advisory services to early stage companies in the Western USA.
The Company's President, Mr. Akash Patel states:
"Discovery Ventures is privileged that Mr. Marting, a person with such vast knowledge and experience, has accepted the appointment as a director of the Company. We are very pleased that he has agreed to work with the Company to develop its portfolio of properties."
AKASH PATEL, President
This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.
About Discovery Ventures Inc.
Shares issued: 23,641,749
Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit
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Discovery Ventures (DVN.V) Announces Further Increase to Its Offering
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2012) - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE:DVN) The Company is pleased to announce that due to high interest in its private placement, it is further increasing the amount offered from the increased amount announced December 3rd of up to 8,818,000 units to up to 9,568,000 units effective December 4, 2012. The price of $0.25 per unit and other terms of the offering will remain the same with each unit comprising of one common share and one share purchase warrant with an exercise term of 5 years along the pricing schedule as indicated below. As with the original offering, a finder's fee of a combination of cash, shares and/or warrants may be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The increase in the private placement is subject to approval by the TSX Venture Exchange. The Company intends to use the proceeds of the offering towards general working capital and its exploration projects.
The Company further wishes to announce that it has closed the 1st tranche of the private placement consisting of 7,108,000 units for an aggregate gross raised amount of $1,777,000. The Company's news release of November 26, 2012 announced the original offering of up to 8,000,000 units at $0.25 per unit, where each unit consists of one common share of the Company and one share purchase warrant with a 5 year term at the exercise price of $0.35 per common share in the first year, $0.40 per common share in the second year and $0.45 per common share from the third to fifth year. The hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the shares purchase warrants related to the 1st tranche is April 1, 2013. In connection with the closing of the 1st tranche, finders received an aggregate of $165,650 and 622,600 compensation warrants.
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Discovery Ventures Inc. (DVN.V) Receives Conditional Approval of Willa Option Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2013) - Discovery Ventures Inc. ("Discovery", "DVN" or the "Company") (TSX VENTURE:DVN) wishes to announce that the Company has received conditional acceptance of the acquisition of mineral claims located in the Slocan mining district of British Columbia known as the Willa deposit. The mineral property consists of 5,328 hectares and is located south of the town of Silverton, B.C. (the "Property"). In furtherance of TSX Venture Exchange approval of share issuances to the optionors of the Property subsequent to the completion of the Phase 2 and 3 work programs under the option agreement, the Company is seeking shareholder approval at its AGM scheduled for February 15, 2013 for share issuances that would increase the shareholdings of the optionor above 20% of the issued shares of the Company.
The Company's submission of the acquisition included a NI43-101 Geological Technical Report completed by Wayne M. Ash, P.Eng of Ash & Associates Consulting Ltd. and David K. Makepeace, P.Eng. of Micon International Limited.
The deposit has been extensively explored and developed by several operators, including Noranda, Rio Algom, BP Minerals, Bethlehem Resources Corp., Northair Mines Ltd. and Hudson Bay Mining & Smelting. An extensive database is under review which covers work that includes 596 drill holes totaling 189,000 feet (57,250 metres) of core drilling and 8,500 feet (2,575 metres) of underground workings, extensive geophysics and sampling consisting of 17,150 analyses for gold, copper and silver.
Bench-scale metallurgical test-work was conducted by three companies including Lakefield Research, Gary Hawthorn (Northair Group) and PRA Labs between 1985 and 2005. The results of locked-cycle tests indicated recoveries of 81% Au and 93% Cu. A concentrate grading 24% Cu was projected from a mineral head grade in the order of 7.0 g Au/t and 0.9% Cu.
The Company has initiated the permitting process in anticipation of the final TSX-V approval and initiating work at Willa in early spring. Work will include determination of all the permits required for further exploration and development at the Property and bulk sampling, and also include commencement with permit applications and negotiations.
Company president Akash Patel comments, "With the Willa deposit having had historical exploration expenditures of approximately CDN$ 18 million to develop it to its present status, we believe the project will offer Discovery Ventures shareholders significant value in today's exciting gold market."
If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.
David K. Makepeace, P. Eng. and Wayne M. Ash, P.Eng. are the Qualified Persons who have reviewed and approved the technical data in this news release.
AKASH PATEL, President
This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.
About Discovery Ventures Inc.
Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; the Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totaled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.
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