Alex Heath, CFA, Joins Southern Empire’s Board of Directors
Press Release
Southern Empire Resources Corp. (Southern Empire; TSX-V: SMP; Frankfurt: 5RE; OTC: SMPEF) is pleased to announce the appointment of Alex Heath as an independent member of Southern Empire’s board of directors.
Dale Wallster, CEO of Southern Empire stated: “We are extremely pleased that Alex has agreed to join Southern Empire’s board. Alex has tremendous experience in many facets of the mining sector and is well respected in the capital markets community. Having worked together on other ventures, I know that Alex will be a strong, independent member of our Southern Empire board and his contributions will no doubt help us to achieve our goals.”
Alex is a CFA Charterholder and has a Bachelor of Commerce degree, with honours, from the University of British Columbia. He is currently President of Ethos Gold Corp., and also a VP of Corporate Development and Strategic Advisor to other “Discovery Group” companies. Previously, Alex worked as Director, Corporate Development & Investor Relations for a mid-tier precious metals producer. Alex has significant corporate finance experience, having spent eight years with Salman Partners focused on mining financings and merger and acquisition transactions, and as a Corporate Finance Manager for Seaspan Corporation, the world’s largest containership lessor, where he was involved in raising over $2 Billion in equity and debt from banks, institutions and public capital markets.
Granting of Options
Southern Empire announces the grant of a total of 750,000 incentive stock options to directors, officers and consultants of Southern Empire, subject to TSX Venture Exchange acceptance. Each option is exercisable to purchase one common share of Southern Empire for five years at a price of C$0.30 per common share in accordance with the terms of the Company’s stock option plan.
About Southern Empire Resources Corp.
Southern Empire is focused on the acquisition, exploration and development of gold deposits in North America.
In the Cargo Muchacho mountains of Imperial County, California, Southern Empire owns 100 per cent of the historical gold-producing American Girl mine property and also holds options to acquire a 100 percent interest in the adjacent 2,160-hectare (5,338-acre) Oro Cruz property located approximately 22.5 kilometres (14 miles) southeast of the operating Mesquite gold mine of Equinox Gold Corp.
At Oro Cruz, extensive historical drilling and large-scale open-pit and underground mining of the American Girl, Padre y Madre, Queen and Cross oxide gold deposits by the American Girl Mining Joint Venture (AGMJV; ultimately owned 53 per cent by MK Gold Company and 47 per cent by Hecla Mining Company) occurred between 1987 and 1996. At that time, gold was recovered by either heap leaching of lower-grade or milling of higher-grade ores until AGMJV operations ceased in late 1996 because of declining gold prices leaving the Oro Cruz Gold Project with many gold exploration targets in addition to the historical inferred resource estimate, reported In 2011 by Lincoln Mining Corp., totalling 341,800 ounces gold based on 4,386,000 tonnes averaging 2.2 grams gold per tonne at a cut-off grade of 0.68 g/t Au (4,835,000 tons at 0.07 ounce gold per ton; please refer to the Cautionary Notice Regarding Historical Resource Estimate below).
Southern Empire is well financed, having completed two oversubscribed, non-brokered private placement financings during 2020; see Southern Empire’s news releases dated March 18 and June 12, 2020, for details. With its strong working capital position, which also includes a significant equity holding in Augusta Gold Corp., Southern Empire has the financial resources to continue exploration and development programs at Oro Cruz and consider new opportunities.
On behalf of the Board of Directors of Southern Empire Resources Corp.,
Dale Wallster, CEO and Director
For further information on Southern Empire please visit both www.smp.gold and SEDAR or contact: Lubica Keighery, (778) 889-5476, lubica@smp.gold .
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