VANCOUVER, BC, Sept. 1, 2020 /PRNewswire/ - KORE Mining Ltd.
(TSXV: KORE) (OTCQX: KOREF) ("KORE" or the "Company")
is pleased to announce it has appointed Mr. Michael Tucker as VP Exploration. Mr.
Tucker is the former exploration manager for Balmoral Resources,
which was recently acquired by Wallbridge Mining Company (TSX:
WM). KORE is also pleased to announce two appointments to our
US based development team responsible for permitting the
Imperial gold project. The
Company remains on-track to deliver the Long Valley project
preliminary economic assessment, expected in the coming weeks,
followed by FG Gold project drill results.
Scott Trebilcock, President and
CEO stated, "Mr. Tucker came highly recommended and he will
immediately enhance our ability to drill multiple projects
simultaneously and deliver on our aggressive portfolio exploration
programs. Mr. Tucker is a hands-on explorationist who fits
well with KORE's culture of efficient capital deployment and
delivering results."
Marc Leduc, COO continued, "In
California we have been building out our development team and
pushing hard on stakeholder engagement as we progress permitting
the Imperial project. KORE
recently opened an office in Imperial
County and has hired a team of local professionals, in-line
with our "keep it local" strategy. We are excited to see the
expanded team ramping up and taking the Imperial project forward."
VP Exploration and Canadian Exploration
Team
Mr. Tucker, P. Geo. has a Bachelors of Geology from Laurentian University and a Masters of Geological
Sciences from the University of British
Columbia and over ten years of field exploration
experience. Most recently he was Exploration Manager for
Balmoral Resources (acquired by Wallbridge Mining) where Mr. Tucker
led exploration activities across all their projects including the
Fenelon gold project which triggered the take-over by
Wallbridge. Balmoral won
multiple exploration awards for its work during Mr. Tucker's
tenure.
Mr. Tucker will report to CEO Scott
Trebilcock and take direction from Executive Chairman
James Hynes who will continue
strategic leadership of KORE's exploration programs. Mr.
Tucker started this week and is currently on-site with Mr. Hynes
transitioning leadership of the on-going FG Gold drill
program.
Mr. Tucker is already taking steps to build-out KORE
capabilities by retaining, Mr. Graham
Leroux, P.Geo., as Canadian Exploration Manager and hiring
former Balmoral geologist Ms.
Rosie Tempest. Mr. Leroux, who
is currently managing drill operations at FG Gold, will continue
leading KORE's Canadian exploration activities while Ms. Tempest
will enhance KORE's in-house interpretation, GIS and analytical
capabilities.
California Development Team
Led by Mr. Marc Leduc, COO, KORE
is building an experienced, strong, local team to deliver mine
permitting at the Imperial gold
project. Supported by an array of top consultants, the
team is actively advancing the Imperial gold project permitting with local
stakeholders and our main regulator, the Bureau of Land
Management.
Two key recent addition to the team are Frank Salazar, Manager of Community and
Government Affairs and Betty
Zataray, Manager of US Environmental and Regulatory
Affairs.
Mr. Salazar is a seasoned executive with over 20 years of
experience. Mr. Salazar worked on multiple campaign
initiatives for the political consultant Mr. James Carville Jr. Mr. Salazar has also
worked on multiple permitting projects in Imperial County including green energy and
industrial projects.
Ms. Zataray spent six years at Western Mesquite Mines, an
operating gold mine nine miles from KORE's Imperial gold project and now owned by Equinox
Gold (TSX:EQX), managing permitting with local, state and federal
regulatory agencies. Ms. Zataray previously worked at various
US locations for Barrick Gold Corporation, including their Cortez
gold mine in Nevada. Ms. Zataray has strong relationships in
Imperial County and brings strong
environmental leadership to KORE.
KORE opened an office in the city of Imperial California in August 2020 to support the Imperial gold project development and
exploration activities including project administration.
About KORE Mining Ltd.
KORE is 100% owner of a portfolio of advanced gold exploration
and development assets in California and British Columbia. KORE,
supported by strategic investors Eric
Sprott and Macquarie Bank; and insiders, including
management and Board, own 64% of the basic shares
outstanding. KORE is well capitalized with recent investment
from Mr. Eric Sprott, adding
$7.5 million to the treasury.
Further information on KORE and its assets can be found on the
Company's website at www.koremining.com and at www.sedar.com,
or by contacting us as info@koremining.com or by telephone at (888)
407-5450.
On behalf of KORE Mining Ltd
"Scott
Trebilcock"
Chief Executive Officer
(888) 407-5450
Investor Relations
Arlen
Hansen, KIN Communications
1-888-684-6730
kore@kincommunications.com
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any KORE common shares in
the United States.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement Regarding Forward-Looking
Information
This news release contains forward-looking
statements relating to the future operations of the Company and
other statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will", "may",
"should", "anticipate", "expects", "intends", "indicates" and
similar expressions. All statements other than statements of
historical fact, included in this release, including, without
limitation, statements regarding the future plans and objectives of
the Company are forward-looking statements. Forward-looking
statements in this news release include, but are not limited to,
statements with respect to: the potential gold structures at the
District deposits, next steps and timing regarding follow-up
programs at the District, results of the PEA, including future
Project opportunities, future operating and capital costs, closure
costs, AISC, the projected NPV, IRR, timelines, permit
timelines, and the ability to obtain the requisite permits,
economics and associated returns of the Imperial Project, the
technical viability of the Imperial Project, the market and future
price of and demand for gold, the environmental impact of the
Imperial Project, and the ongoing ability to work cooperatively
with stakeholders, including the local levels of government.
Such forward-looking statements, and any assumptions upon
which they are based, are made in good faith and reflect our
current judgment regarding the direction of our business.
Management believes that these assumptions are reasonable. Forward
looking information involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information.
Such factors include, among others: risks related to
exploration and development activities at the Company's projects,
and factors relating to whether or not mineralization extraction
will be commercially viable; risks related to mining
operations and the hazards and risks normally encountered in the
exploration, development and production of minerals, such as
unusual and unexpected geological formations, rock falls, seismic
activity, flooding and other conditions involved in the extraction
and removal of materials; uncertainties regarding regulatory
matters, including obtaining permits and complying with laws and
regulations governing exploration, development, production, taxes,
labour standards, occupational health, waste disposal, toxic
substances, land use, environmental protection, site safety and
other matters, and the potential for existing laws and regulations
to be amended or more stringently implemented by the relevant
authorities; uncertainties regarding estimating mineral resources,
which estimates may require revision (either up or down) based on
actual production experience; risks relating to fluctuating metals
prices and the ability to operate the Company's projects at a
profit in the event of declining metals prices and the need to
reassess feasibility of a particular project that estimated
resources will be recovered or that they will be recovered at the
rates estimated; risks related to title to the Company's
properties, including the risk that the Company's title may be
challenged or impugned by third parties; the ability of the Company
to access necessary resources, including mining equipment and
crews, on a timely basis and at reasonable cost; competition within
the mining industry for the discovery and acquisition of properties
from other mining companies, many of which have greater financial,
technical and other resources than the Company, for, among other
things, the acquisition of mineral claims, leases and other mineral
interests as well as for the recruitment and retention of qualified
employees and other personnel; access to suitable infrastructure,
such as roads, energy and water supplies in the vicinity of the
Company's properties; and risks related to the stage of the
Company's development, including risks relating to limited
financial resources, limited availability of additional financing
and potential dilution to existing shareholders; reliance on its
management and key personnel; inability to obtain adequate or any
insurance; exposure to litigation or similar claims;
currently unprofitable operations; risks regarding the ability of
the Company and its management to manage growth; and potential
conflicts of interest.
In addition to the above summary, additional risks and
uncertainties are described in the "Risks" section of the Company's
management discussion and analysis for the year ended December 31, 2019 prepared as of April 27, 2020 available under the Company's
issuer profile on www.sedar.com.
Forward-looking statements contained herein are made as of
the date of this news release and the Company disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or results, except as may
be required by applicable securities laws. There can be no
assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
information.
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SOURCE Kore Mining