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Moss Lake
Gold Mines Ltd. was created in 1995 to consolidate ownership of the
large tonnage, low grade Moss Lake gold deposit located in the Shebandowan
area, 100 kilometres west of Thunder Bay, Ontario. The deposit
had been evaluated as a potential underground operation in the 1980s
and subsequently as a potential large tonnage open pit operation in
the early 1990s. It was viewed as a strategic asset that would
increase in value as the gold price increased.
The process of re-evaluating
the deposit’s economic potential was initiated in 2006 as the gold
price strengthened. A NI 43-101 compliant report completed by
independent consultants Watts, Griffis and McOuat Limited estimated
and inferred resource of 56.1 million tonnes grading 0.027 ounces of
gold per ton or 1.51 million contained ounces above a depth of 840 feet.
This included 39.0 million tons at 0.035 ounces per ton or 1.36 million
ounces when a 0.015 ounces per ton cut-off grade is applied.
Currently resource remodelling
is underway with the goal of reclassifying the resources to reflect
confidence gained from the favourable 2008 drill program. Our
consultants have recommended further studies to refine the confidence
in cost estimates.
Management believes this
work will define the economic and technical parameters required to attract
project financing for development. Furthermore, we believe the
Company’s assets are significantly undervalued in the marketplace
relative to those of our peers. We believe this gap will narrow
as ongoing work meets our objectives and the significance of this advanced,
large resource is recognized in the context of the bull market in gold.
Moss Lake Gold Mines
Ltd. trades on the TSX-V under the symbol “MOK” and has 45.1 million
shares issued. The Company is a 56% owned subsidiary of established
Canadian gold producer Wesdome Gold Mines Ltd.
CORPORATE INFORMATION – MANAGEMENT AND DIRECTORS
David Birkett
Director
David Birkett graduated with a BA in
economics from the University of Waterloo. David is the President of
Landis Mining Corporation and has been involved in gold exploration
since 1986. David is a self proclaimed “gold bug” and sees Moss
Lake as a fantastic opportunity for investors.
Richmond Graham, P.Eng.
Director
Richmond Graham, is a Professional Engineer
and holds a Bachelor Mechanical Engineering from Lakehead University
and an MBA from Royal Roads University. As the previous Executive
Director with Saskenergy Incorporated/Transgas Limited and more recently
as the Vice President of Altagas Natural Gas Storage Limited, Richmond
has extensive experience bringing new opportunities and projects successfully
to market. He has over 25 years experience in the energy sector and
is active in both private and public business.
John Hilland, P. Geol
Director
John Hilland obtained a BASc degree in
Geological Engineering from the University of British Columbia in 1985
and is registered in Alberta as a Professional Geologist. John has worked
on gold and PGM projects with several public companies and has also
arranged financing and conducted gold exploration projects for a private
companies. He has worked in Nunavut, northern Saskatchewan and British
Columbia. Although he has focused on the oil and gas industry since
1990, he is keen to get back to his roots in the hard rock exploration
business.
Shelly John
Manager, Investor Relations
Shelly John graduated
with a BA in economics from York University. Shelly is currently
the Manager of Investor Relations for Wesdome Gold Mines Ltd.
George Mannard, P. Geo
Director, President
George Mannard is a geologist by training,
with a BSc from Queen’s and a Master’s degree in Mineral Exploration
from McGill. Career highlights include being senior project geologist
responsible for the Louvicourt discovery in 1989 for Aur Resources Inc.
and the development of 3 gold mines with River Gold Mines Ltd. George
brings with him over 20 yrs experience in exploration and production
geology.
Donald D. Orr, CA
Secretary-Treasurer
Don Orr is a Chartered Accountant with
a B.Comm from the University of Toronto. Don has been involved in the
mining industry since 1977. He has been the Secretary-Treasurer and
a Director of Wesdome Gold Mines Ltd. since 1994.
Donovan A. Pollitt, P.Eng.
Director
Donovan Pollitt is a
Professional Engineer with a BASc in mining engineering from the University
of Toronto. Donovan is currently the President & CEO for Wesdome
Gold Mines Ltd and has been a Director of Wesdome since 2006.
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