Vancouver, BC, Canada, June 27, 2019 – Megastar Development Corp. (“Megastar”, or the “Company”) (TSX-V: MDV; Frankfurt: M5QN), an early stage mineral exploration company focused on its properties in Oaxaca, Mexico, is pleased to announce that Robert Archer has joined its Board of Directors.
Mr. Archer has more than 35 years’ experience in the mining industry, working throughout North and South America. After having spent 15 years with major mining companies, Mr. Archer moved to the junior mining sector where he held several senior management positions. Mr. Archer co-founded Great Panther Mining Limited, a growth-oriented mid-tier precious metals producer, having served as President & CEO until August 2017 and currently remains on its Board of Directors. Mr. Archer also serves as CEO and sits on the Board of Newrange Gold Corp. (TSX-V: NRG), an exploration company with assets in the Western United States. Mr. Archer is a Professional Geologist (registered in British Columbia) and holds an Honours BSc from Laurentian University in Sudbury, Ontario.
“We would like to welcome Bob aboard,” said Dusan Berka, CEO of Megastar. “Bob’s more than 20 years’ experience in Mexico highlighted by his accomplishment of building Great Panther into the company it is today, will be a great asset, as Megastar begins its work to advance its Mexican projects. Familiarity with Mexico, what it takes to build companies from an early-stage and being well-known to investors in the junior market space, will all help our company as it furthers work on its properties. In addition, as a geologist, he will be a great compliment to David Jones, our geological leader in Oaxaca.”
“When introduced to Megastar and its properties in Oaxaca, I was immediately intrigued,” said Bob Archer. “After spending some time with David Jones, the Company’s senior technical leader and learning why these assets were secured by Megastar, I quickly understood the possibilities. I look forward to bringing my experience to the Board and assisting the management team to advance the Company and its Mexican assets.”
The Company wishes to announce the departure of Jonathan Rich from its Board of Directors. Mr. Rich served on the Company’s Board since 2012, having helped it transition to a company now focused on its Mexican assets. Megastar wants to thank Mr. Rich for his work and support to the Company.
Lastly, the Company has granted an aggregate of 1,850,000 incentive stock options (“the Options”) to members of its Board and management team. The Options are exercisable for a period of three years from the date of grant at a price $0.11 per share and vesting over a period of three years. The Options have been granted under and are governed by the terms of the Company’s incentive stock option plan.
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is an emerging resource company engaged in the evaluation, acquisition and exploration of mineral properties in Canada and Mexico. Megastar has an Option to acquire 100% interest in three epithermal Au-Ag mineral properties in Oaxaca, Mexico. Megastar also owns 100% interest in Ralleau mineral property in Urban Barry District, Lebel-Sur-Quévilion area of Quebec, currently under 50% Option to DeepRock Minerals Exploration Inc. For further information, investors and shareholders are invited to visit the Company’s website at www.megastardevelopment.com or call the office at 604-681-1568, or toll free at 1-877-377-6222.
ON BEHALF OF THE BOARD OF DIRECTORS
Dusan Berka, P. Eng.
President & CEO
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.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.