VANCOUVER, BC, July 30, 2021 /CNW/ - KORE Mining Ltd. (TSXV:
KORE) (OTCQX: KOREF) ("KORE" or the "Company") is
pleased to announce its Board of Directors has formed a new Board
Committee, the Environmental, Health, Safety and Sustainability
Committee ("Committee") to oversee KORE's environmental, social and
governance ("ESG") practices. ESG considerations have come to
be recognized by investors, communities and regulators as
fundamental to long-term success of any mining company, throughout
all stages of their development. The scope of the Committee
will include safety, health, sustainability, community and social
considerations, environment and the governance of those issues.
The newly formed Committee is chaired by CEO Scott Trebilcock, and other Committee members
are Mr. Brendan Cahill
and Mr. Don MacDonald, who
both bring decades of experience in managing the wide array of ESG
issues related to mine development. The formation of the
Committee will elevate these significant topics to the regular
Board agenda and focus attention on enhancing programs and
transparency.
Mr. Trebilcock stated: "The formation of the ESG Committee will
help us focus on key stakeholder issues as we continue work to
advance the Imperial and Long Valley
gold projects in California. We
are confident our work in this area will demonstrate to investors,
local communities and other stakeholders that we take ESG matters
seriously with a commitment to high standards."
The Committee held its first meeting this past week and has
mandated management to develop a values statement and a robust
policy with respect to ESG. KORE's governance matters that
are unrelated to safety, health, sustainability, community and the
environment will continue to be managed by the Compensation and
Governance Committee whose charter remains unchanged.
KORE's Board, pursuant to the Company's stock option plan, has
granted annual share-based incentives to certain directors,
officers, employees and consultants of the Company. The
issuance of 2,075,000 options are part of KORE's
regular annual incentives to attract and retain skilled directors,
officers, staff and consultants. The grant
represents approximately 1.85% of KORE's current issued and
outstanding shares. The options are exercisable at
C$0.62, with a third vesting in 6
months, another third in 12 months and the balance 18 months after
the date of grant. Options to directors and officers have a 5-year
term and to employees and consultants have a 3-year term.
About KORE Mining
KORE is 100% owner of the Imperial
and Long Valley gold projects in
California. Both projects have
positive preliminary economic assessments. KORE is supported
by strategic investor Eric Sprott
who owns 26% of KORE's basic shares. KORE management and Board are
aligned with shareholders, owning an additional 35% of the basic
shares outstanding. KORE is actively advancing its Imperial Gold
project and is aggressively exploring across its portfolio of
assets.
Further information on KORE can be found on the Company's
website at www.koremining.com or by contacting us at
info@koremining.com or by telephone at (888) 407-5450.
On behalf of KORE Mining Ltd
"Scott
Trebilcock"
Chief Executive Officer
(888) 407-5450
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.
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SOURCE Kore Mining