VANCOUVER, BC, May 2, 2022
/CNW/ - Montage Gold Corp. ("Montage" or the "Company")
(TSXV: MAU) (OTCPK: MAUTF) is pleased to announce the
appointment of Ms. Anu Dhir to the Company's Board of Directors
effective immediately. Ms. Dhir, who is based in Toronto, Canada, is co-founder of Wshingwell,
a for-profit community relationship platform that allows
individuals, communities and organizations to micro-fundraise
around experiences and events. Prior to starting Wshingwell, Ms.
Dhir spent 20 years in the resources sector; most recently, as a
co-founder and executive of ZinQ Mining, a private base and
precious metals company that focuses on the Latin American Region.
Prior to ZinQ Mining, Ms. Dhir was Vice President, Corporate
Development and Corporate Secretary at Katanga Mining Limited. Ms.
Dhir currently serves as a non-executive director on the Boards of
Taseko Mines Limited and Lomiko Metals Inc. Ms. Dhir is a graduate
of the General Management Program (GMP) at Harvard Business School and has a law degree (Juris
Doctor) from Quinnipiac University and
a Bachelor of Arts (BA) from the University of
Toronto.
The Company also announces that, effective immediately,
Richard P. Clark is stepping down as
non-executive Chair of the Board but will continue to serve as a
member of the Board. Peter C.
Mitchell, who currently serves as a director of the Company,
will assume the role of non-executive Chair.
Mr. Hugh Stuart, Chief Executive
Officer commented, "I am very pleased to welcome Ms. Dhir to
Montage. Ms. Dhir joins the Company at an important stage of the
Company's development as we continue to advance our Koné Gold
Project through permitting, financing, and exploration milestones.
Ms. Dhir's depth of experience in the mining industry, particularly
in African countries, combined with her legal expertise, enhances
and compliments the skillsets currently represented on our Board of
Directors.
I would also like to thank Mr. Clark for his leadership as Chair
of the Board since the Company's inception in 2019 and look forward
to his continued contribution and guidance in his continuing role
as a director of Montage."
The Company also announces that it has granted an aggregate of
300,000 incentive stock options to Ms. Dhir. The options are
exercisable, subject to vesting provisions, over a period of three
years at a price of C$0.81 per
share.
ABOUT MONTAGE GOLD CORP.
Montage is a Canadian-based precious metals exploration and
development company focused on opportunities in Côte d'Ivoire. The
Company's flagship property is the Koné Gold Project, located in
northwest Côte d'Ivoire, which currently hosts a Probable Mineral
Reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. The Company released the
results of a DFS on the Koné Gold Project on February 14, 2022, outlining a 15-year gold
project producing 3.06M ounces with
average annual production of 207koz, and peak production of 320koz.
Montage has a management team and Board with significant experience
in discovering and developing gold deposits in Africa.
TECHNICAL DISCLOSURE
The technical disclosure contained in this press release have
been approved by Hugh Stuart, BSc,
MSc, a Qualified Person pursuant to NI 43-101. Mr. Stuart is the
Chief Executive Officer of the Company, a Chartered Geologist and a
Fellow of the Geological Society of London. Mr. Stuart is not independent of
Montage as he is an officer, director and shareholder of
Montage.
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.
FORWARD LOOKING
STATEMENTS
This press release contains certain forward-looking information
and forward-looking statements within the meaning of Canadian
securities legislation (collectively, "Forward-looking
Statements"). All statements, other than statements of historical
fact, constitute Forward-looking Statements. Words such as "will",
"intends", "proposed" and "expects" or similar expressions are
intended to identify Forward-looking Statements. Forward looking
Statements in this press release include statements that imply the
Company will obtain sufficient or any project financing to permit
the Project to be developed as expected, and also includes those
related to the Company's mineral reserve and resource estimates;
the timing and amount of future production from the Koné Gold
Project; expectations with respect to the IRR, NPV, payback and
costs of the Koné Gold Project; anticipated mining and processing
methods of the Koné Gold Project; anticipated mine life of the Koné
Gold Project; expected recoveries and grades of the Koné Gold
Project; timing for the DFS; and timing for permits and
concessions. Forward-looking Statements involve various risks and
uncertainties and are based on certain factors and assumptions.
There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Company's expectations include uncertainties inherent in the
preparation of mineral reserve and resource estimates and
definitive feasibility studies such as the mineral reserve and
resource estimates and the DFS, including but not limited to,
assumptions underlying the production estimates not being realized,
incorrect cost assumptions, unexpected variations in quantity of
mineralized material, grade or recovery rates, unexpected changes
to geotechnical or hydrogeological considerations, unexpected
failures of plant, equipment or processes, unexpected changes to
availability of power or the power rates, failure to maintain
permits and licenses, higher than expected interest or tax rates,
adverse changes in project parameters, unanticipated delays and
costs of consulting and accommodating rights of local communities,
environmental risks inherent in the Côte d'Ivoire, title risks,
including failure to renew concessions, unanticipated commodity
price and exchange rate fluctuations, risks relating to COVID-19,
delays in or failure to receive access agreements or amended
permits, the impact and progression of the COVID-19 pandemic and
other risk factors set forth in the Company's annual information
form under the heading "Risk Factors". The Company undertakes no
obligation to update or revise any Forward-looking Statements,
whether as a result of new information, future events or otherwise,
except as may be required by law. New factors emerge from time to
time, and it is not possible for Montage to predict all of them, or
assess the impact of each such factor or the extent to which any
factor, or combination of factors, may cause results to differ
materially from those contained in any Forward-looking Statement.
Any Forward-looking Statements contained in this press release are
expressly qualified in their entirety by this cautionary
statement.
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SOURCE Montage Gold Corp