15 January 2016
TORONTO, ON --( Marketwired - January 14, 2016 ) - TMAC Resources Inc. (TSX: TMR) (" TMAC " or the " Company ") is pleased to provide guidance for 2016 and an update on its 100% owned Hope Bay Project , located in Nunavut, Canada .
As a result of the work TMAC accomplished on the Hope Bay Project in 2015 and the new detailed planning and budgeting relating to the period 2016 to 2018 the "Path to Production" budget (as described in TMAC's management discussion and analysis of the financial condition and results of operations of TMAC for the period ended September 30, 2015 and covering the period from January 1, 2015 to December 31, 2016 ) has been updated using operational results achieved in 2015 and more detailed engineering to reflect an improved tactical mine development plan (the "Tactical Plan") for the period from January 1, 2016 to December 31, 2018 . The Tactical Plan contains several changes in scope from the Pre-Feasibility Study issued in May 2015 , with an effective date of March 31, 2015 , (the " PFS "), including: