MANAGEMENT CHANGES AT TRIBUTE
April 16, 2003
TSXVE: TBM
Tribute Minerals Inc. (“Tribute” or the “Company”) (TSXVE- TBM) wishes to announce that Messrs. John Harvey, Richard Nemis and William R. Johnstone have been appointed to the board of directors, subject to regulatory approval, and that Messrs. David Wahl, Chris Jennings, Karl Harries, Ed Hladun and Ted Freedman have resigned as directors. David Wahl has resigned as Chairman, John Wahl has resigned as Chief Operating Officer and Bruce Allford has resigned as Corporate Secretary. John Harvey has been appointed Non-Executive Chairman of the Board and William Johnstone has been appointed Corporate Secretary. Currently the officers and directors of Tribute are as follows:
John Harvey - Director and Non-Executive Chairman
Ian Brodie-Brown - Director, President and Chief Executive Officer
William R. Johnstone - Director and Corporate Secretary
Richard Nemis - Director
Greg Davison - Vice-President, Exploration
Peter Brodie-Brown - Vice-President, Shareholder Relations
Peter Purcell - Vice-President, Corporate Development
The Company wishes to express its appreciation for the efforts of Messrs. Wahl, Jennings, Harries, Hladun and Freedman and thank them for serving as directors of the Company.
The Company also wishes to announce that, subject to regulatory approval, it has entered into negotiation with John L. Wahl Consulting Ltd. to option the King Bay Property. The King Bay Property has been in the Wahl family for over forty years and John Wahl and his brother, David, wish to pursue the exploration and development of the King Bay Property. The terms of the option are expected to be the grant of an option to earn a 100% working interest in the property by expending $200,000 on exploration of the property. The Company will retain a 1½% net smelter returns royalty, 1% of which may be purchased for $1,000,000. A press release will be issued when a deal has been finalized.
New Management intends to pursue the exploration and development of the Company's remaining properties and seek further equity financings for the Company.
The following is some brief biographical information on the incoming directors:
John Harvey - Mr. Harvey received a Bachelor of Science from the University of New Brunswick in 1959. He received his P.Eng designation in 1964 and has been a member of the P.G.A.C. since 1991. Mr. Harvey has been active in the mining industry since 1960. Recently, he has worked as V.P. Exploration for United Carina Resources, Prospectors Alliance Corp., Western Copper Holdings Limited and Prime Equities Inc. Mr. Harvey was Sr. V.P. of Exploration for Noranda Inc. from 1982 to 1994. Mr. Harvey runs his own geological consulting firm.
Richard Nemis - Mr. Nemis received a Bachelor of Arts from the University of Ottawa and a Bachelor of Laws from Osgoode Hall Law School. Mr. Nemis was called to the bar in the Province of Ontario in 1968 and has practiced law since that time. He has had associations with several Canadian mining and oil and gas companies including establishing Central Crude Ltd., now named River Gold Mines Inc. and listed on the TSX. Mr. Nemis is currently the President and CEO of Noront Resources Ltd., listed on the TSX Venture Exchange.
William R. Johnstone - Mr. Johnstone is the Company's new corporate counsel and is the principal of Johnstone & Company, a boutique Corporate/Securities law firm. Mr. Johnstone is a director of the Canadian Listed Company Association and was recently appointed as a member of the OSC's Small Business Advisory Committee. Mr. Johnstone is also an officer and/or director of five other TSX Venture Exchange listed companies.
The Company currently has 29,990,243 common shares issued and outstanding.
For further information, please contact Ian Brodie-Brown, President and C.E.O. of the Company, at 416-368-2929 or by Facsimile at 416-601-1450 or by Email at info@tributeminerals.com or visit our website at www.tributeminerals.com.
The TSX Venture Exchange has neither approve nor disapprove the content of this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tribute Minerals Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
(416) 601-1450 (FAX)
info@tributeminerals.com
www.tributeminerals.com
The TSX Venture Exchange has neither approved nor disapproved of the contents of this
release.
