NANAIMO, British Columbia, July 10, 2018 (GLOBE NEWSWIRE) -- Troymet Exploration Corp. (TSXV:TYE) (“Troymet”) is pleased to announce that, further to its May 3, 2018 news release, Mr. Jason Riley has been appointed to the Board of Directors of Troymet. Mr. Riley’s appointment as a director is subject to TSXV acceptance. Troymet also announces that it has granted Mr. Riley 250,000 stock options, exercisable at $0.05 per share for ten years from date of issuance.
Jason Riley has been the President/CEO of ExGen Resources Inc. (TSXV:EXG) since May 5, 2014, a director of ExGen since September 2013, and prior thereto, the President/CEO of Konnex Resources Inc., a private mining company, from January 2011 until Konnex was purchased by ExGen on August 30, 2013. ExGen is a project accelerator that seeks to fund exploration and development of its projects through joint ventures and partnership agreements. ExGen currently has 6 projects in Canada and the US. Jason Riley is also the Founder, CEO and shareholder of EVOS Media Inc., a private Vancouver based media development and production company; the CEO, a director and shareholder of a private, corporate training and Human Resources consulting company; and a director of Phoenix Global Mining Ltd. (LSE AIM:PGM), an AIM listed, North American-focused, base and precious metal explorer and developer.
“We are delighted that Mr. Riley is joining the Board of Troymet, bringing new skills, ideas and experience to the Board”, said Kieran Downes, President and CEO of Troymet.
The stock options granted to Mr. Riley vest on issuance. Troymet has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options granted to Mr. Riley (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
About Troymet Exploration Corp.
Troymet is a mineral exploration company with its current exploration activity focused in British Columbia. Please refer to Troymet’s website (www.troymet.com) to view information on the Company’s Golden Eagle and Redhill projects. Troymet retains a 1% net smelter returns royalty (NSR) on the Key property, British Columbia, which was sold to New Gold Inc. in 2013. Troymet is continuing to evaluate and monitor opportunities in the minerals sector.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
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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 news release.