ELEM:CC - Element 79 Gold Welcomes George Tumur to its Board of Directors
(TheNewswire)
Vancouver, B C - The N ewswire - September 7 , 2023 - Element 79Gold Corp. (CSE:ELEM)(OTC:ELMGF)(FSE:7YS) (" Element 79Gold ", the " Company ") amining company focused on Gold and Silver, is pleased to announce thenomination of Mr. George Tumur to the Company's Board of Directors.
Distinguished senior business and operations leader,Mr. Tumur brings a wealth of experience and a profound understandingof mining, investment funding, and government relations. FormerAmbassador to Singapore, Mr. Tumur's remarkable career has beencharacterized by visionary leadership, strategic acumen, and anexceptional ability to navigate complex challenges.
Mr. Tumur held several executive-level positions atminerals exploration and mining organizations, including Hunnu CoalLtd. (ASX: HUN), Energy Resources LLC (later, MMC, HKEX: 0975) andother public and private entities. Most notably, in these roles, MrTumur has had a transformative impact in leadership, unlockingsignificant coal resources, estimated at 1 billion tons of measuredand indicated coal across three projects at Hunnu Coal, and elevatingthe company's valuation nine-fold in just 18 months following IPO; aswell as commencing a significant production of a private projectwithin six months from a headstart, introducing an internationalcontract mining experience into local mining industry, leading to asuccessful IPO.
Prior to his recent role as a senior advisor at GatewayPartners Ltd., a private equity investment fund in Singapore, Mr.Tumur has been appointed as Ambassador of Mongolia to Singapore,Philippines, and Brunei Darussalam, and applied his diplomaticskills to strengthen bilateral and multilateral relations, boastingtrade and tourism between host countries and Mongolia.
Beyond his corporate success, Mr. Tumur is also acommitted contributor to society and community organizations. He hasheld leadership positions in various organizations, including theMongolian Chamber of Trade and Commerce in Singapore, the Asia EuropeFoundation, and the Mongolian Mining Club. Tumur's academic backgroundincludes a Master of Science in Mining and Earth Systems Engineeringfrom the Colorado School of Mines and a Bachelor of Science inMetallurgy and Materials Engineering from the same institution.
"This appointment marks a significant stride inthe Company's journey toward strategic excellence and internationalexpertise," said James Tworek, President and CEO of Element 79Gold. "We look forward to benefiting from his wealth ofexperience, global perspective, and strategic insight."
The Company also announced that Mr. Shane Williams willstep down from the Board of Directors. Mr. Williams departs from hisposition on Element 79 Gold's Board of Directors to focus onincreasing professional commitments but will remain an advisor to theCompany. Element 79 Gold would like to sincerelythank Mr. Williams for his valuable contributions and unwaveringcommitment during his tenure as a Director, and appreciates that hewill continue to provide guidance through his advisory position as itnavigates through both its current and future opportunities.
About Element79Gold Corp.
Element79 Goldis a mining company focused on gold and silver committed to maximizingshareholder value through responsible mining practices and sustainabledevelopment of its projects. Element79 Gold's primary focus is ondeveloping its previously-producing, high-grade gold and silver mine,the Lucero project located in Arequipa, Peru, with the intent to bringit back into production in the near term.
The Company alsoholds a portfolio of 5 properties along the Battle Mountain trend inNevada, with the Clover and West Whistler projects believed to havesignificant potential for near-term resource development. Threeproperties in the Battle Mountain Portfolio are under contract forsale to Valdo Minerals Ltd., with an anticipated closing date aroundthe end of 2023. The Company has also signed an Option Agreement tosell the Maverick Springs project, an advanced-stage exploratoryproperty with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Auand 175MMoz Ag) and anticipates completing this sale before the end of2023.
In BritishColumbia, Element79 Gold has executed a Letter of Intent and funded adrilling program to acquire a private company that holds the option to100% interest of the Snowbird High-Grade Gold Project, which consistsof 10 mineral claims located in Central British Columbia,approximately 20km west of Fort St. James. The Company also has anoption to acquire a 100% interest in the Dale Property, 90 unpatentedmining claims located approximately 100 km southwest of Timmins,Ontario, and has recently announced that it has transferred thisproject to its wholly-owned subsidiary, Synergy Metals Corp, and isadvancing through the Plan of Arrangement spin-out process through therest of 2023.
For moreinformation about the Company, please visit www.element79.gold
Contact Information
For corporatematters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79gold.com
For investorrelations inquiries, please contact:
Investor RelationsDepartment
Phone: +1.613.879.9387
E-mail: investors@element79.gold
Cautionary Note Regarding ForwardLooking Statements
This press contains "forward?lookinginformation" and "forward-looking statements" underapplicable securities laws (collectively, "forward?lookingstatements"). These statements relate to future events or theCompany's future performance, business prospects or opportunities thatare based on forecasts of future results, estimates of amounts not yetdeterminable and assumptions of management made in light ofmanagement's experience and perception of historical trends, currentconditions and expected future developments. Forward-lookingstatements include, but are not limited to, statements with respectto: the Company's business strategy; future planning processes;exploration activities; the timing and result of explorationactivities; capital projects and exploration activities and thepossible results thereof; acquisition opportunities; and the impact ofacquisitions, if any, on the Company. Assumptions may prove to beincorrect and actual results may differ materially from thoseanticipated. Consequently, forward-looking statements cannot beguaranteed. As such, investors are cautioned not to place unduereliance upon forward-looking statements as there can be no assurancethat the plans, assumptions or expectations upon which they are placedwill occur. All statements other than statements of historical factmay be forward?looking statements. Any statements that express orinvolve discussions with respect to predictions, expectations,beliefs, plans, projections, objectives or future events orperformance (often, but not always, using words or phrases such as"seek", "anticipate", "plan","continue", "estimate", "expect","may", "will", "project","predict", "forecast", "potential","target", "intend", "could","might", "should", "believe" and similarexpressions) are not statements of historical fact and may be"forward?looking statements".
Actual results may vary from forward-lookingstatements. Forward-looking statements are subject to known andunknown risks, uncertainties and other factors that may cause actualresults to materially differ from those expressed or implied by suchforward-looking statements, including but not limited to: the durationand effects of the coronavirus and COVID-19; risks related to theintegration of acquisitions; actual results of exploration activities;conclusions of economic evaluations; changes in project parameters asplans continue to be refined; commodity prices; variations in orereserves, grade or recovery rates; actual performance of plant,equipment or processes relative to specifications and expectations;accidents; labour relations; relations with local communities; changesin national or local governments; changes in applicable legislation orapplication thereof; delays in obtaining approvals or financing or inthe completion of development or construction activities; exchangerate fluctuations; requirements for additional capital; governmentregulation; environmental risks; reclamation expenses; outcomes ofpending litigation; limitations on insurance coverage as well as thosefactors discussed in the Company's other public disclosure documents,available on www.sedarplus.ca . Althoughthe Company has attempted to identify important factors that couldcause actual results to differ materially from those contained inforward-looking statements, there may be other factors that causeresults not to be as anticipated, estimated or intended. The Companybelieves that the expectations reflected in these forward?lookingstatements are reasonable, but no assurance can be given that theseexpectations will prove to be correct and such forward?lookingstatements included herein should not be unduly relied upon. Thesestatements speak only as of the date hereof. The Company does notintend, and does not assume any obligation, to update theseforward-looking statements, except as required by applicablelaws.
Neither the Canadian SecuritiesExchange nor the Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
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