News

November 30, 2010 - Vancouver, BC

Changes to Board of Directors 

Arcus is pleased to announce the appointment of William Wengzynowski and Marc Blythe to its board of directors. Mr. Wengzynowski is a registered professional engineer in British Columbia and holds a bachelor of applied sciences degree in geological engineering from the University of British Columbia. He is currently a partner in the geological consulting firm of Archer, Cathro & Associates (1981) Ltd. and has spent the majority of his professional career in Yukon mineral exploration. Most recently as the senior project geologist, he directed the 2010 operations at Atac Resources Ltd.'s Rau gold project. In 2000, he was the recipient of the Yukon Prospector of the Year Award. 

Mr. Blythe is a registered professional engineer in British Columbia and holds a bachelor of mining engineering degree from the Western Australian School of Mines. Mr. Blythe also holds a master of business administration degree from La Trobe University in Melbourne. He holds a Western Australian first-class mine manager's certificate of competency and has successfully managed mines for both Placer Dome Inc. and WMC Resources Ltd. (formerly Western Mining Corp.). Mr. Blythe is currently the president and chief executive officer of Tarsis Resources Ltd. and the vice-president of mining with Almaden Minerals Ltd. 

"We are very pleased that Bill and Marc have agreed to join the Arcus board. Both are well respected within the mineral exploration industry for their technical expertise and significantly increase the geological capacity of the Arcus management team," reported Ian Talbot, the Arcus president. 

Arcus also announces that Charles Vidalin, one of the founding directors, has resigned from the company board. Mr. Vidalin has recently accepted a position with a national investment firm and in his new role is no longer able to sit on the boards of public companies. "On behalf of Arcus, I would like to thank Chuck for the 3.5 years he has contributed as a board member. We look forward to working with him as a member of the local brokerage community," stated Grant Longhurst, the Arcus vice-president. 

Dawson gold project 

Arcus announces that it has increased the size of its Touleary property through the staking of an additional 458 mineral claims. Including additional Dan Man claims staked earlier in 2010 (see news release in Stockwatch on June 16, 2010), the four claim blocks comprising the Dawson gold project now collectively consist of 1,348 mineral claims and cover an area of 251 square kilometres. 

La Ventosa project 

Arcus announces that its option to acquire an interest in La Ventosa epithermal gold prospect in Oaxaca, Mexico, has been terminated. The option was held under agreement with Riverside Resources Inc. Results from the 2010 work program did not support further expenditures by Arcus and it has not retained any interest in the project. 

The Arcus business model continues to include gold exploration in Mexico. Arcus has developed an excellent working relationship with Riverside and has been very pleased with Riverside's cost-effective execution of field programs. A review of potential Mexican gold projects by Arcus management is continuing. 

Incentive stock options 

Arcus announces that it has granted incentive stock options to various directors, officers and employees of consultants, entitling them to purchase up to a total of 2,360,295 shares at a price of 17 cents per share for a period of five years.