(TheNewswire)
Kelowna, BritishColumbia – TheNewswire - October 25, 2021 - SOUTH ATLANTIC GOLD INC.(TSXV:SAO) (“ South Atlantic” or the “ Company” ) announces that Mr.Adam Davidson and Mr. S. Mitchel Wasel will be joining the Company’sBoard of Directors as a result of their election at the 2021 AnnualGeneral Meeting (“ AGM ”) held October 22, 2021.
Board of Directors
Mr. Adam Davidson is currently Chief Executive Officerand director of Trident Royalties PLC, a diversified mining royaltyand streaming company. His past experience includes Resource CapitalFunds, BMO Capital Markets and Orica Mining Services. Additionally,Mr. Davidson commenced his career at T. Rowe Price and served in theUnited States Marine Corps Reserve.
Mr. S. Mitchel Wasel, Vice President Exploration withGolden Star Resources Ltd, has spent 28 years at that company inpositions of increasing responsibility. He has been working in mineralexploration and production for over 35 years on three continents. Mr.Wasel has extensive exploration experience on Proterozoic terrains onboth sides of the Atlantic Ocean including the Guyana Shield, BirimianShield and Archean terrains in Northern Canada and Brazil. Over 15million ounces of gold mineral resources that are now world-classmining operations have been successfully delineated by Mr. Wasel andhis exploration teams.
Douglas Meirelles , CEO stated, “Wewant to welcome Adam and Mitch to the Board of South Atlantic. Thesuccess and diverse backgrounds of these two gentlemen will be awelcome addition to our team. We look forward to working with them aswe continue to advance the Pedra Branca project in Brazil.
“We would like to thank Nanmao Suand Oliver Friesen for their efforts on the Board, especially as wetransitioned into South Atlantic with a new branding and focus. Theirleadership was invaluable and wish them both continued success in thefuture.”
Results of AGM
All of the matters set forth by the Company in theNotice of Meeting and Information Circular, at the AGM on October 22,2021. The required majority of votes cast at the meeting approved thefollowing:
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- Acceptance of the 2021 audited financial statementsof the Company;
- Approval to fix the number of directors for theensuing year at six;
- Election of the slate of Directors set forth by theCompany;
- Appointment of Smythe LLP as auditors of the Companyfor the ensuing year; and
- Passage of an ordinary resolution to re-approve therolling 10% stock option plan.
About South Atlantic Gold
South Atlantic Gold is an exploration company engagedin acquiring and advancing mineral properties located in the Americas.Our Brazilian flagship asset is our 100% owned Pedra Branca project,located 280 km southwest of Fortaleza, Ceara State, Brazil. SouthAtlantic Gold is focused on creating value for its shareholders byengaging in the development and acquisition of high-quality mineralassets located in stable and mining friendly jurisdictions. SouthAtlantic Gold is based in Kelowna, British Columbia, and is listed onthe TSX-V under the symbol “SAO”.
ON BEHALF OF THE BOARD
Douglas Meirelles, President and CEO
For more information regarding thisnews release, please contact:
Anne Hite, Vice President, Investor Relations
T: 250-762-5777
Email: ir@southatlanticgold.com
Cautionary NoteRegarding Forward-Looking Information
This news release containsstatements that constitute "forward-lookingInformation", as suchterm is used in applicable Canadian securities laws . Such forward-looking informationinvolves known and unknown risks, uncertainties and other factors thatmay cause the Company’s actual results, performance or achievements,or developments in the industry to differ materially from theanticipated results, performance or achievements expressed or impliedby such forward-looking information. Forward-looking informationincludes statements that are not historical facts and are generally,but not always, identified by the words "expects,""plans," "anticipates," "believes,""intends," "estimates," "projects,""potential" and similar expressions, or that events orconditions "will," "would," "may,""could" or "should" occur.
Although the Company believes theforward-looking information contained in this news release isreasonable based on information available on the date hereof, by itsnature forward-looking information involves assumptions and known andunknown risks, uncertainties and other factors which may cause ouractual results, level of activity, performance or achievements, orother future events, to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking information. There can be no assurance that the Fundamental Acquisition will becompleted as proposed or at all.
Examples of such assumptions, risksand uncertainties include, without limitation, assumptions, risks anduncertainties associated with general economic conditions; theCovid-19 pandemic; adverse industry events; the receipt of requiredregulatory approvals and the timing of such approvals; that theCompany maintains good relationships with the communities in which itoperates or proposes to operate, future legislative and regulatorydevelopments in the mining sector; the Company’s ability to accesssufficient capital from internal and external sources, and/orinability to access sufficient capital on favorable terms; miningindustry and markets in Canada and generally; the ability of theCompany to implement its business strategies; competition; the risk that any of theassumptions prove not to be valid or reliable, which could result indelays, or cessation in planned work, risks associated with theinterpretation of data, the geology, grade and continuity of mineraldeposits, the possibility that results will not be consistent with theCompany’s expectations, as well as other assumptions risks anduncertainties applicable to mineral exploration and developmentactivities and to the Company, including as set forth in theCompany’s public disclosure documents filed on the SEDAR website at www.sedar.com .
THEFORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTSTHE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASEAND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULDNOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULDNOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANYMAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANYPARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLELAWS.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release .
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