Pacific Empire Announces Engagement of OreQuest Consultants as Technical Advisors and the Sale of Shares of Nova Royalty Corp. for Proceeds of Approximately C$644,795
Vancouver, November 3, 2020 - Pacific Empire Minerals Corp. (TSXV: PEMC) ("Pacific Empire", "PEMC" or the "Company") is pleased to announce the engagement of Messrs. George Cavey P.Geo and Douglas Cavey of OreQuest Consultants Ltd ("OreQuest") as technical advisors to the Company. OreQuest's initial mandate will include reviewing all available technical data gathered to date at PEMC's Jean Marie copper-gold project, and designing the exploration program at the property.
George Cavey is a senior consulting geologist and the former Vice President of Orko Silver Corp. ("Orko Silver"), where he discovered the 264 million ounce La Preciosa silver deposit in Mexico. Orko Silver was acquired by Coeur Mining in April 2013 for C$380 million.
Mr. G. Cavey has over 40 years of experience in the mining industry, and has been the President of OreQuest since 1982. He is a past President of the Canadian Council of Professional Geoscientists and was the recipient of the 2004 C.J. Westerman Memorial Award - British Columbia's most prestigious recognition for a professional geoscientist. He was also the recipient of the 2010 Canadian Professional Geoscientist Award - the highest honour awarded to professional geoscientists in Canada. He is a former member of the Canadian Securities Administrators Mining Technical Monitoring and Advisory Committee.
Douglas Cavey is a diversified project development expert and the current Vice President of Business Development for Norra Metals Corp. He has over a decade of experience in mineral project management, venture market fundamentals, corporate and business development, and long-term project development strategies.
PEMC also welcomes Ms. Jennifer Roskowski, senior consulting geologist with OreQuest, who will be providing technical guidance to PEMC pursuant to OreQuest's engagement. Ms. Roskowski is a highly-skilled geologist with key expertise in district-scale exploration targeting. Ms. Roskowski's expertise at evaluating large exploration datasets will be invaluable in the synthesis of the considerable database of work at the Jean Marie and other PEMC projects.
Mr. George Cavey stated, "We are excited by the opportunity to work with the team at Pacific Empire and to help design the next phase of development at the Jean Marie copper-gold project. Jean Marie is an exciting project with excellent discovery potential."
In addition, PEMC announces today that it has sold its 460,000 common shares in Nova Royalty Corp. (the "Nova Royalty Shares") for gross proceeds of approximately C$644,795. PEMC sold the Nova Royalty Shares as part of its ongoing portfolio management strategy and to further strengthen its balance sheet with no additional shareholder dilution.
"We are excited to be working with the team at OreQuest Consultants," stated Brad Peters, Pacific Empire's President and CEO. "Their strong technical background and experience will be invaluable to PEMC and we look forward to working together as we develop exploration targets and strategies at Jean Marie and across our portfolio of mineral projects."
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About Pacific Empire Minerals Corp.
PEMC is an exploration company based in Vancouver, British Columbia, that employs a "hybrid prospect generator" business model and trades on the TSX Venture Exchange under the symbol PEMC. The Company's strong portfolio of projects is a result of continuous generative work conducted since the Company's inception in 2012.
By integrating the project generator business model with low-cost RC drilling, the company intends to leverage its portfolio by identifying, and focusing on, the highest quality projects for partnerships and advancement.
ON BEHALF OF THE BOARD,
President and Chief Executive Officer
Pacific Empire Minerals Corp.
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Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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