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| November 17th, New CEO | Symbol: ESK: TSX.v |
NEWS RELEASE
ESKAY MINING ANNOUNCES MANAGEMENT CHANGES
Vancouver, BC – ESKAY MINING CORPORATION (the “Company” or “ESK”) announced today changes to its senior leadership team as part of the Company’s continuing focus on its core holdings of some 130,000 acres around and south of Barrick Gold Corporation’s prolific Eskay Creek Mine.
Mr. Wally Boguski, President & Chief Executive officer, resigned as an officer effective November 12, 2009 and plans to tender his resignation from the Board of Directors as of December 15, 2009. He is replaced by Hugh M. (Mac) Balkam, currently Chairman of the Board of Directors.
In assuming the role, Mac Balkam stated, “I have been intrigued by Eskay Mining Corporation’s vast land holdings in the mining district adjoining the world class Eskay Creek Mine. The recent exploration success of Seabridge Gold and Silver Standard Resources, as well as a host of other junior companies in our area has encouraged us to focus our exploration on these holdings. Eskay Mining has a vast geological database and the experience on the ground to aid in discovering a mineable resource. As a significant shareholder, my intent is to drive this company forward with renewed focus on shareholder value. The world is a very complex place for mining companies, and we believe that a mining friendly jurisdiction such as British Columbia, Canada is a proven place in which to explore and create significant value for our shareholders. Eskay’s new team is now positioned to develop this large, undeveloped asset.”
Mr. Robert Myhill, a newly appointed independent director has joined the Company’s Audit committee. The Compensation committee granted new stock incentive options to Mr.Myhill to purchase up to a total of 250,000 common shares at a price of $0.30 per share for a five year period. The Company’s shares closed at $0.18 cents on November 12, 2009. The current stock option offering is a 67% premium to the market. Mr. Myhill subsequently replaced Mr. Balkam on the Company’s Compensation committee.
Eskay Mining Corporation continues to explore numerous alternatives to enhance the shareholder value represented by its large, high potential, core holding in the Eskay Creek area.
Eskay Mining Corp.
Hugh M. (Mac) Balkam, Chairman, Director
This document contains certain forward looking statements which involve
known and unknown risks, delays, and uncertainties not under the
corporations control which may cause actual results, performance or
achievements of the corporation's to be materially different from the
results, performance or expectation implied by these forward looking
statements.
"TSX Venture Exchange" does not accept responsibility for the adequacy or accuracy of this news release.
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