(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 27, 2024 : Inflection Resources Ltd. (CSE: AUCU / OTCQB:AUCUF / FSE: 5VJ) (the "Company" or"Inflection") is pleased to announcethe appointments of Mr. Fraser MacCorquodale asa Non-Executive Director and Dr. Neil Adshead as Advisor to theCompany, effective immediately.
Summary Highlights:
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The Company has appointed Mr. MacCorquodale as aNon-Executive Director. Fraser is an exploration geologist with over35 years’ experience and until recently was Newcrest Mining’sglobal head of exploration from 2008 to 2023, during which he wasdirectly involved in several discoveries within Australia, Indonesia,Papua New Guinea, West Africa and Western Canada. Fraser has a deepunderstanding of the Macquarie Arc and the Cadia district in New SouthWales where Inflection is exploring itsportfolio of 100% owned projects;
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The Company has also appointed Dr. Neil Adshead asAdvisor. Neil is an industry veteran with extensive technical and capital marketsexpertise and was a portfolio manager and investment strategist atSprott Inc. between 2012 to 2023. Prior to joining Sprott, Neil wasa senior mining analyst at Passport Capital and prior to that heldsenior roles with Placer Dome.
Alistair Waddell, Inflection’s President and CEO,states: “ I am delighted to welcome Fraser and Neilto the Company, both of whom possess tremendous and highly relevantexperience that complements Inflection’s ongoing explorationactivities in Australia. We are pleased to have attracted suchaccomplished and discovery-focused industry veterans with strongtechnical and capital market expertise. Fraser's deep technicalknowledge of copper-gold porphyry deposits, especially in theMacquarie Arc, as well as Neil’s global knowledge of the explorationbusiness and capital markets will greatly assist the Company’sinitiatives in New South Wales, where it controls over 7,000 squarekilometres of exploration licenses”.
About Fraser MacCorquodale,Non-Executive Director: Mr. MacCorquodale isan exploration geologist with over 35 years experience in exploringfor gold and copper deposits globally, encompassing expertise in nearmine, brownfield and greenfield exploration. Fraser led Newcrest’sglobal exploration team from 2008 to 2023, during which he wasdirectly involved in a number of discoveries within Australia,Indonesia, Papua New Guinea, West Africa and Western Canada. During his tenure, Fraser played a pivotalrole in formulating and executing Newcrest's growth strategy,overseeing the development of a world-class exploration team andestablishing a robust growth portfolio.
Fraser has tremendous expertise in exploring foralkalic porphyry deposits, including significant experience inexploring under cover within the Macquarie Arc. This expertise isbuilt upon a deep knowledge of the world class Cadia and the Red Chriscopper-gold districts and their associated footprints, particularly atdepth. Fraser was awarded the Colin Spence Award for excellence inGlobal Mineral Exploration in 2020 from the Association for Mineral Exploration forhis role in discovery of the Havieron project located in WesternAustralia.
About Dr. Neil Adshead,Advisor: Dr. Adshead’s career commenced atPlacer Dome, where he held various exploration, mining and managerialroles in Australia, Papua New Guinea and Canada. After a decade withPlacer Dome, he worked the next twenty years on the buy-side,initially serving as a Senior Mining Analyst at San Francisco-basedPassport Capital, then as an Investment Strategist and PortfolioManager for various subsidiaries of Sprott Inc. Neil currently holds several roles including assisting amid-tier mining company with growth initiatives and providingtechnically-focused investment reviews for investments funds withdifferent mandates.
Stock Options: The Company has granted 2,950,000 incentive stock options (the“Options”) to Officers, Directors, employees and advisors to theCompany. Each Option is exercisable to purchase one common share ofthe Company at a price of $0.20 for a five-year term and will vest sixmonths after the date of grant. The Options are subject to theacceptance of the Canadian Securities Exchange.
About Inflection ResourcesLtd. Inflection is a technically drivencopper-gold and gold focused mineral exploration company listed on theCanadian Securities Exchange under the symbol “AUCU” and on theOTCQB under the symbol “AUCUF” with projects in Australia.
The Company is systematically exploring for large copper-gold deposits in the northern interpreted extension of theMacquarie Arc, part of the Lachlan Fold Belt in New SouthWales . The Macquarie Arcis Australia’s premier porphyry copper-gold province host toNewmont’s Cadia deposits, the CMOC Northparkes deposits andEvolution Mining’s Cowal deposits plus numerous explorationprospects including Boda, the discovery made by Alkane Resources. For more information, please visit the Company website at www.inflectionresources.com .
Inflection is part of the NewQuest Capital Group whichis a discovery-driven investment group that builds value through theincubation and financing of mineral projects and companies. Furtherinformation about NewQuest can be found on the company website at www.nqcapitalgroup.com .
On behalf of the Board ofDirectors
Alistair Waddell
President and CEO
alistair@inflectionresources.com
For further information, pleasecontact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements: This news release includes certainforward-looking statements and forward-looking information(collectively, "forward-looking statements") within themeaning of applicable Canadian securities legislation. All statements,other than statements of historical fact, included herein including,without limitation, statements regarding future capital expenditures,amount of drilling, receipt of the maximum amount of available grantfunding, anticipated content, commencement and cost of explorationprograms in respect of the Company's projects and mineral properties,AngloGold’s anticipated funding of the Minimum Commitment and timingthereof, and the anticipated business plans and timing of futureactivities of the Company, are forward-looking statements. Althoughthe Company believes that such statements are reasonable, it can giveno assurance that such expectations will prove to be correct. Often,but not always, forward looking information can be identified by wordssuch as "pro forma", "plans", "expects","may", "should", "budget","scheduled", "estimates", "forecasts","intends", "anticipates", "believes","potential" or variations of such words including negativevariations thereof, and phrases that refer to certain actions, eventsor results that may, could, would, might or will occur or be taken orachieved. Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to differ materially fromany future results, performance or achievements expressed or impliedby the forward-looking statements. Such risks and other factorsinclude, among others, statements as to the anticipated business plansand timing of future activities of the Company, including theCompany's exploration plans. the proposed expenditures for explorationwork thereon, the ability of the Company to obtain sufficientfinancing to fund its business activities and plans, delays inobtaining governmental and regulatory approvals (including of theCanadian Securities Exchange), permits or financing, changes in laws,regulations and policies affecting mining operations, the Company'slimited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, aswell as those factors discussed under the heading "RiskFactors" in the Company's prospectus dated June 12, 2020 andother filings of the Company with the Canadian Securities Authorities,copies of which can be found under the Company's profile on the SEDARwebsite at www.sedar.com . Readers are cautioned not to place undue reliance onforward-looking statements. The Company undertakes no obligation toupdate any of the forward-looking statements, except as otherwiserequired by law.
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