Symbol: TSX: ME   

TORONTO, July 31, 2019 /CNW/ - Moneta Porcupine Mines Inc. (TSX:ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta" or the "Company") is pleased to announce the appointment of Mr. Josef Vejvoda to the Board of Directors, subject to regulatory approval.

Josef Vejvoda, CIM, ICD.D currently serves as Chief Executive Officer and Chief Compliance Officer since 2018, and as a portfolio manager since 2013, at K2 & Associates Investment Management Inc., a multi-strategy investment fund which holds approximately 22 million common shares in Moneta. He was Managing Director, Investment Banking, and director of MGI Securities Inc., from 2007 to 2010. Prior to this, Mr. Vejvoda held various senior roles at a number of large financial institutions, including Merrill Lynch Canada, Bank of Montreal, National Bank Financial and TD Securities.

Mr. Vejvoda has a strong background serving on a number of boards as a director including ShoreTel Inc. (NASDAQ: SHOR), acquired by Mitel for US$540 million, Dominion Diamonds Corporation (TSX: DDC, NYSE: DDC) acquired by Washington Corporation for US$1.2 billion, and also as  Chairman of the Special Committee of PNI Digital Media Inc. (TSX: PN), sold to Staples Inc.

Mr. Vejvoda graduated from Queen's University with a bachelor's degree in computer science and is a registered portfolio manager with the Ontario Securities Commission. He has also earned the Chartered Investment Manager (CIM®) designation from the Canadian Securities Institute and is a graduate of the Institute of Corporate Directors having achieved the ICD.D designation.

About Moneta
The Company holds a 100% interest in 6 core gold projects strategically located along the Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85 million ounces of past gold production. The projects consist of the Golden Highway, North Tisdale, Nighthawk Lake, DeSantis East, Kayorum and Denton projects. The Golden Highway Project covers 12 kilometres of prospective ground along the DPFZ of which 4 km hosts the current 43-101 mineral resource estimate comprised of an indicated resource of 383,400 ounces gold contained within 2.59 Mt @ 4.61 g/t Au and a total of 873,200 ounces gold contained within 6.46 Mt @ 4.21 g/t Au in the inferred category at a 3.00 g/t Au cut-off.

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetaporcupine.com or email us at [email protected].

This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include, but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Company's drilling program and the timing and results thereof; and the ability of the Company to finance and carry out its anticipated goals and objectives.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

SOURCE Moneta Porcupine Mines Inc.

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