Lexam VG Gold Inc.'s Profile

Expanding Gold Resources in Timmins Developing Four Gold Projects

Lexam VG Gold Inc.Toronto, On; TSX: LEX. Frankfurt FWB: VN3A; OTCQX: LEXVF, is focused on developing its four gold projects situated in the heart of the world class Timmins Gold Camp in Canada.

Lexam VG Gold has an exploration and operations management office in Timmins, one of the world's prolific gold camps.

Lexam VG Gold Inc. is performing permitting, mine planning and exploration work that leads toward production.

Cash $12.4 million Oct 7 2011

The Company plans ongoing drilling programs for the purpose of expanding gold mineralization on its properties.

Lexam VG Gold has option to earn 60% of Paymaster by spending $6 M before June 2012. Goldcorp has back-in-right to 70% by spending $9 M + feasibility within 3 years.

Rob McEwen owns 27%

Exploration and Development

  • Lexam’s Timmins Properties are Underexplored and Neighbour Large Gold Deposits Property Gold Mineralization Provides Significant Exploration Potential Below and Adjacent to Existing Resources
  • Explore for High Value Gold Zones while Drilling and Expanding Gold Deposits

Established Gold Projects

Davidson Tisdale

  • Ramp developed deposit on the trend with Goldcorp owned Hollinger and McIntyre Mines.

Fuller Deposit

  • Ramp developed deposit with gold zones that cross onto the paymaster property where the structure has produced 1 million ounces.

Buffalo Ankerite

  • Mine produced 1 million gold ounces adjacent to Goldcorp’s 3.5 million ounce Aunor Delnite Mine 4,000 foot deep BA #5 production shaft.

Paymaster West

  • Porphyry gold deposit is located adjacent to Goldcorp’s Dome Mine Significant production in Timmins has come from the porphyry gold mineralization.

2011 Drill Program

  • Several drills operating continuously over the 12 months
  • Largest drill program on Lexam VG Gold’s properties - $10 million budget for 2011

The company has an attractive valuation compared to its other Timmins peers and has good trading liquidity.

Last changed at 07-Nov-2011 11:21AM by Highgrader

Management & Directors

  • Robert R. McEwen (BA, MBA)

    Non-Executive Chairman, Director

    Robert R. McEwen - Non-Executive Chairman, Director
    Mr. McEwen is the founder and former Chairman and CEO of Goldcorp Inc. (1993-2005). He is presently the President, Chief Executive Officer and Chairman of US Gold Corporation (since 2005) and Minera Andes Incorporated (since 2009) and invests privately in the resource sector through various investment vehicles (collectively "McEwen Capital"). The latter positions are Mr. McEwen's principal occupation.

  • Management

    .

    Thomas W. Meredith - President, CEO & Director

    Tom Meredith has 25 years experience in the junior natural resource industry and has served as the President and as a director of VG Gold since 1995, prior to which he served as Vice President of Operations for Northfield Metals Inc. where he was responsible for initiating production at the Cheminis Gold Mine near Kirkland Lake, Ontario. Mr. Meredith also currently serves as a director of Mustang Minerals Corp. (TSXV:MUM).

    Ha Tran – CFO

    Ms. Tran currently serves as Corporate Controller for US Gold Corporation and served as Vice President, Corporate Controller for Lexam. Prior to joining Lexam and US Gold, Ms. Tran was the Manager of Financial Reporting for Cott Corporation. Previously, Ms. Tran was employed in the manufacturing practice at Deloitte from 2001 to 2005. Ha is a Chartered Accountant and holds a B.Comm from the University of Windsor and a B.A from the University of Western Ontario.

    Ken Guy - Exploration Manager

    Ken Guy, P.Geo. is the exploration manager of the Company with 30 years of exploration experience in Ontario Canada. Ken has worked as an exploration manager with BP Selco, Getty Metals and Cypress Minerals prior to joining VG Gold in 2003.

    Gerry McDonald – Operations Manager

    Gerry McDonald has 35 years of mining experience in Ontario, Canada is the operations manager of VG Gold. After graduating from the Haileybury School of Mines he worked with Noranda Mines Mining Corp. subsidiary that built and operated several new mines and mills in Ontario. Gerry was then became the mine manager at the Kerr Addison Mine near Kirkland Lake for 3 years, and subsequently he worked Westdome Gold for 11 years where he initiated production at two mines and a mill prior to Joining VG Gold in 2006.

    Nils Engelstad – Corporate Secretary

    Mr. Engelstad joined the McEwen Capital group of companies in the summer of 2009 as legal counsel. He is currently the Corporate Secretary to US Gold Corporation and Vice President, Corporate Affairs to Minera Andes, the latter his principal occupation. Nils was previously at the law firm Stikeman Elliott LLP.

    David Black - Manager of Investor Relations in North America

    Maurice Hoewler - Manager of Investor Relations in Europe

  • Director(s)

    .

    Thomas W. Meredith – President and CEO, Director

    Tom Meredith has 25 years experience in the junior natural resource industry and has served as the President and as a director of VG Gold since 1995, prior to which he served as Vice President of Operations for Northfield Metals Inc. where he was responsible for initiating production at the Cheminis Gold Mine near Kirkland Lake, Ontario. Mr. Meredith also currently serves as a director of Mustang Minerals Corp. (TSXV:MUM).

    Richard W. Brissenden - Director

    Richard is the President of Regal Consolidated Ventures, a company focused on exploration and development of natural resources. He currently serves on the board of several public resource companies. He obtained his Chartered Accountant designation in 1972.

    Hugh C. Squair - Director

    Dr. Hugh C. Squair is a retired consultant, corporate director and geologist.

    Robert E. Van Tassell – Director

    Retired geologist and corporate director, Mr. Van Tassell currently sits on the boards of five junior mineral exploration companies.

    John Drake - Director
    J
    ohn Drake serves as a director of VG Gold. Mr. Drake is the President and co-founder of Drake Goodwin Corporation, an investment firm with interests in financial services, real estate development and manufacturing. Mr. Drake is the Chairman of Critical Outcome Technologies Inc., a TSX-Venture listed company. Mr. Drake is the co-owner of Redtail Golf Course, an exclusive golf course located outside of Port Stanley, Ontario. Mr. Drake was appointed an Honorary Colonel of the 1st Hussars of the Royal Canadian Armored Corps. in 1999. Mr. Drake obtained his B.A. and LL.B degrees from the University of Western Ontario and remains a member of the Law Society of Upper Canada.

    Robin Dunbar – Director

    Robin Dunbar is a director and President of Mustang Minerals Corp. which is developing two nickel deposits in Manitoba, Canada (TSXV:MUM) and as director and Chief Financial Officer of Aquila Resources Inc. (TSXV:AQA), whose primary asset is a gold zinc deposit in Michigan. Mr. Dunbar holds a M.B.A. from Dalhousie University, and also currently serves as a director of Western Areas N.L. (TSX:WSA) which produces nickel in Australia.

    John Tait – Director

    John Tait serves as the Chief Operating Officer of VG Gold, and as Chief Executive officer of White Pine Resources Inc. (TSXV:WPR). Mr. Tait previously served as the President and a director of Southern Star Resources Inc. (TSXV:SSR) which merged with Exall Resources to form Gold Eagle Mines Ltd. (TSX:GEA). Gold Eagle Mines Ltd. was purchased by Goldcorp Inc. for $1.5 billion in 2008. Mr. Tait has over 16 years of experience in the mining exploration business. Prior to joining Southern Star Resources Inc., Mr. Tait acted as Secretary of Orcana Resources Limited (TSXV:OCN) from 1992 to 1997. Mr. Tait is also currently a director of Merc International Minerals Inc. (TSXV:MRK).

Broker Fact Sheet

  • LEX Broker Fact Sheet
    Thu Mar 29, 2019
    Fact sheet details
Lexam VG Gold Inc.
Symbol
LEX
Exchange
TSX-V
Shares
323.7m FD Oct. 7 2011
Industry
Energy & Environment
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