Ascendant Resources Appoints Rui Santos to its Board of Directors
06 Mayo 2020 - 6:30AM
Ascendant Resources Inc. (TSX: ASND) ("Ascendant"
or the "Company") is pleased to announce that Mr. Rui Botica Santos
is joining the Company’s Board of Directors. Mr. Santos is a lawyer
based in Portugal who is widely regarded as a leading authority in
the mining sector in Portugal. Mr. Santos has spent over 20 years
representing/assisting domestic and international corporations in
negotiations and disputes with the State regarding land
acquisitions, exploration, extraction and environmental licenses,
for both the mining and oil and gas industries in Portugal, Angola,
Brazil and East Timor. Most notably, he was the legal advisor for
major privatization transaction regarding the acquisition of
Somincor by EuroZinc, which is now Lundin Mining’s Portuguese
subsidiary operating the large-scale Neves-Corvo mine in Portugal.
Mr. Santos is a Partner of CRA - Coelho Ribeiro e Associados –
Portuguese Law Firm, where he leads the firm’s Arbitration and
Mining practices. Mr. Santos is a member of the Portuguese
Bar Association, the Brazilian Bar Association, the Lawyers’
Association of the Republic of Timor-Leste and the Lawyers’
Association of Macau. Mr. Santos is also a recognized author on
arbitration and dispute resolution.
Executive Chairman Mark Brennan stated: “We are
very pleased to have Rui join us at Ascendant Resources. He has a
wealth of knowledge and experience within the mining industry
internationally but most importantly in Portugal, where we continue
to focus on progressing the Lagoa Salgada project on the Iberian
pyrite belt. We look forward to continued success in Portugal with
Rui’s support.”
The Company also announces that, due to
increased professional demands in his position of Managing Partner
at Appian Capital Advisory LLC, Guillermo Kaelin has resigned as a
director of the Company. Mr. Kaelin’s extensive capital markets and
private equities experience has been a tremendous asset over the
past three years, providing strategic guidance throughout the
acquisition, turnaround and sale of the El Mochito mine and the
acquisition of the Lagoa Salgada project. Ascendant would like to
thank Mr. Kaelin for his insightful and highly valued contributions
throughout his tenure and wishes him all the best in his.
About Ascendant Resources
Inc.
Ascendant Resources Inc. is a Toronto-based
mining company focused on the exploration and development of the
highly prospective Lagoa Salgada VMS project located on the
prolific Iberian Pyrite Belt in Portugal. Through focused
exploration and aggressive development plans, the Company aims to
unlock the inherent potential of the project, maximizing value
creation for shareholders.
Lagoa Salgada contains over 12.8 million tonnes
of M&I Resources and over 10.3 million tonnes in Inferred
Resources and demonstrates typical mineralization characteristics
of Iberian Pyrite Belt VMS deposits containing zinc, copper, lead,
tin, silver and gold, and demonstrates. Extensive exploration
upside potential lies both near deposit and at prospective step-out
targets across the large 10,700ha property concession. The project
also demonstrates compelling economics with scalability for future
resource growth in the results of the Preliminary Economic
Assessment completed in 2020. Located just 80km from Lisbon, Lagoa
Salgada is easily accessible by road and surrounded by exceptional
Infrastructure. Ascendant holds a 21.25% interest in the Lagoa
Salgada project through its 25% position in Redcorp -
Empreendimentos Mineiros, Lda, (“Redcorp”) and has an earn-in
opportunity to increase its interest in the project to 80%. Mineral
& Financial Investments Limited owns the additional 75% of
Redcorp. The remaining 15% of the project is held by Empresa de
Desenvolvimento Mineiro, S.A. (EDM), a Portuguese Government owned
company supporting the strategic development of the country’s
mining sector. The Company’s interest in the Lagoa Salgada project
offers a low-cost entry to a potentially significant exploration
and development opportunity, already demonstrating its mineable
scale.
Ascendant Resources is also engaged in the
ongoing evaluation of producing and development stage mineral
resource opportunities. The Corporation's common shares are
principally listed on the Toronto Stock Exchange under the symbol
"ASND". For more information on Ascendant Resources, please visit
our website at www.ascendantresources.com.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX) accepts responsibility for the adequacy or
accuracy of this release. For further information please
contact:Katherine PrydeDirector, Communications & Investor
RelationsTel: 888-723-7413info@ascendantresources.com
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