SOHFF - Telson Announces the Appointment of Ruben Alvidrez Ortega to its Board Of Directors and Results of 2020 AGM
(TheNewswire)
Vancouver, British Columbia - TheNewswire - October 13, 2020 - Telson Mining Corporation (" Telson " or the" Company " (TSX V: TSN ) ( OTC:SOHFF ) (F rankfurt:TSGN (formerly SQ82)) is pleased to announce theappointment of Mr. Ruben Alvidrez Ortega to the Company's Board ofDirectors.
Ruben Alvidrez Ortega
Mr. Alvidrez Ortega is an Industrial Engineer with a master's degreein Business Administration (MBA) at Notre Dame University. He hasextensive experience in banking operations for commercial andcorporate segments, specializing mainly in continuous improvement,risk and control, as well as project development and implementation.
Since 1994 he worked in several roles with Citigroup,an International bank with approximately 33,000 employees in Mexico,working with corporate clients in the US and Mexico and leading teamsof over 200 people. Ruben's last position in Citigroup was in February2020, in the Corporate segment as Senior Vice-President of Custodyoperations.
Telson's President/CEO Ralph Shearing stated, "Onbehalf of Telson's Board of Directors, I am incredibly pleased towelcome Mr. Ruben Alvidrez Ortega to the Company's board of directors.Ruben is a member of the prominent Alvidrez Mexican mining family withmembers holding current and past senior executive positions withinFresnillo and Penoles. We are confident that his proficiencies,experience and association at the highest level of the Mexican miningand financial industry will be of great value to Telson as the Companymoves forward with its projects in Mexico."
The Company held its Annual General Meeting on October8, 2020. All matters tabled for consideration, as outlined on theCompany's Notice of Annual General Meeting were unanimously approved.Five Directors were appointed for the upcoming year comprised ofincumbent Directors, Ralph Shearing, Enrique Margalef, Rory Godinho,Roberto Guzman and Yao Sun. In addition, a sixth Director, RubenAlvidrez Ortega was nominated from the floor at the meeting (seeabove).
Davidson and Company, Chartered ProfessionalAccountants were appointed as auditors of the Company until the closeof the next annual general meeting.
The 2019 Stock Option Plan was renewed as the Company's2020 Stock Option Plan as set out in the Information Circular datedSeptember 3, 2020. The Company will file the 2020 Stock Option Planwith the TSX Venture Exchange for its approval pursuant to Exchangepolicies.
About Telson MiningCorporation
Telson Mining Corporation is a Canadian based miningcompany with two 100% owned Mexican gold, silver, and base metalmining projects.
Telson's Tahuehueto mining project, located innorth-western Durango State, Mexico where construction has beenadvanced to an estimated 60-70% of completion, is waiting for finalfunding to finish construction of the processing plant and relatedassets to produce gold, silver, lead and zinc in concentrates withinits own on-site mineral processing facility, with a designed capacityof at least 1,000 tonnes per day. The Company is targeting completionof construction during 2021, six to eight months after securing finalfunding.
Campo Morado is a polymetallic base metal mine withmining and milling equipment capable of producing up to 2,500 tonnesper day. Four months after purchasing Campo Morado, Telson brought themine back into operation initiating preproduction in October 2017 anddeclared commercial production in May 2018, operating the minecontinuously for 22 months until August 2019 when the project was puton care and maintenance. Telson brought the mine out of care andmaintenance and reinitiated mining and milling operations during lateJanuary 2020, temporarily suspended operationsduring April and May 2020 as mandated by the Mexican Government forCOVID-19 precautions, and re-initiated mining operations June 4, 2020after mining was declared an essential service within Mexico.
Visit: www.telsonmining.com
On Behalf of the Board ofDirectors
(signed) "RalphShearing"
Ralph Shearing, President, CEO andDirector
Cautionary Note Regarding ProductionDecisions and Forward-Looking Statements
It should be noted that Telsondeclared commercial production at Campo Morado prior to completing afeasibility study of mineral reserves demonstrating economic andtechnical viability. Accordingly, readers should be cautioned thatTelson's production decision has been made without a comprehensivefeasibility study of established reserves such that there is greaterrisk and uncertainty as to future economic results from the CampoMorado mine and a higher technical risk of failure than would be thecase if a feasibility study was completed and relied upon to make aproduction decision. Telson has completed a preliminary economicassessment ("PEA") mining study on the Campo Morado minethat provides a conceptual life of mine plan and a preliminaryeconomic analysis based on the previously identified mineral resources(see News Release dated November 8, 2017 and April 4,2018).
Statements contained in this newsrelease that are not historical facts are "forward-lookinginformation" or "forward-looking statements"(collectively, "Forward-Looking Information") within themeaning of applicable Canadian securities laws. Forward LookingInformation includes, but is not limited to, disclosure regarding theplanned recommencement of mining operations at Campo Morado; and otherpossible events, conditions or financial performance that are based onassumptions about future economic conditions and courses of action;the timing and costs of future activities on the Company's properties,such as production rates and increases; success of exploration,development and bulk sample processing activities, and timing forprocessing at its own mineral processing facility on the Tahuehuetoproject site. In certain cases, Forward-Looking Information can beidentified by the use of words and phrases such as "plans","expects", "scheduled", "estimates","forecasts", "intends", "anticipates" orvariations of such words and phrases. In preparing the Forward-LookingInformation in this news release, the Company has applied severalmaterial assumptions, including, but not limited to, that the currentexploration, development, environmental and other objectivesconcerning the Campo Morado Mine and the Tahuehueto Project can beachieved; that recommencement of operations at Campo Morado willproceed as planned; the continuity of the price of gold and othermetals, economic and political conditions and operations.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 differentfrom any future results, performance or achievements expressed orimplied by the Forward-Looking Information. There can be no assurancethat Forward-Looking Information will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on Forward-Looking Information. Except as required bylaw, the Company does not assume any obligation to release publiclyany revisions to Forward-Looking Information contained in this newsrelease to reflect events or circumstances after the date hereof or toreflect the occurrence of unanticipated events.
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
For further information about TelsonMining Corporation, please contact:
Glen Sandwell
Corporate Communications Manager
ir@telsonmining.com
Tel: +1 (604) 684-8071
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