Vancouver, BC September 1, 2020 – KORE Mining Ltd. (TSXV: KORE | OTCQX: KOREF) (“KORE” or the “Company”) is pleased to announce it has appointed Mr. Michael Tucker as VP Exploration. Mr. Tucker is the former exploration manager for Balmoral Resources, which was recently acquired by Wallbridge Mining Company (TSX: WM). KORE is also pleased to announce two appointments to our US based development team responsible for permitting the Imperial gold project. The Company remains on-track to deliver the Long Valley project preliminary economic assessment, expected in the coming weeks, followed by FG Gold project drill results.
Scott Trebilcock, President and CEO stated, “Mr. Tucker came highly recommended and he will immediately enhance our ability to drill multiple projects simultaneously and deliver on our aggressive portfolio exploration programs. Mr. Tucker is a hands-on explorationist who fits well with KORE’s culture of efficient capital deployment and delivering results.”
Marc Leduc, COO continued, “In California we have been building out our development team and pushing hard on stakeholder engagement as we progress permitting the Imperial project. KORE recently opened an office in Imperial County and has hired a team of local professionals, in-line with our “keep it local” strategy. We are excited to see the expanded team ramping up and taking the Imperial project forward.”
VP Exploration and Canadian Exploration Team
Mr. Tucker, P. Geo. has a Bachelors of Geology from Laurentian University and a Masters of Geological Sciences from the University of British Columbia and over ten years of field exploration experience. Most recently he was Exploration Manager for Balmoral Resources (acquired by Wallbridge Mining) where Mr. Tucker led exploration activities across all their projects including the Fenelon gold project which triggered the take-over by Wallbridge. Balmoral won multiple exploration awards for its work during Mr. Tucker’s tenure.
Mr. Tucker will report to CEO Scott Trebilcock and take direction from Executive Chairman James Hynes who will continue strategic leadership of KORE’s exploration programs. Mr. Tucker started this week and is currently on-site with Mr. Hynes transitioning leadership of the on-going FG Gold drill program.
Mr. Tucker is already taking steps to build-out KORE capabilities by retaining, Mr. Graham Leroux, P.Geo., as Canadian Exploration Manager and hiring former Balmoral geologist Ms. Rosie Tempest. Mr. Leroux, who is currently managing drill operations at FG Gold, will continue leading KORE’s Canadian exploration activities while Ms. Tempest will enhance KORE’s in-house interpretation, GIS and analytical capabilities.
California Development Team
Led by Mr. Marc Leduc, COO, KORE is building an experienced, strong, local team to deliver mine permitting at the Imperial gold project. Supported by an array of top consultants, the team is actively advancing the Imperial gold project permitting with local stakeholders and our main regulator, the Bureau of Land Management.
Two key recent addition to the team are Frank Salazar, Manager of Community and Government Affairs and Betty Zataray, Manager of US Environmental and Regulatory Affairs.
Mr. Salazar is a seasoned executive with over 20 years of experience. Mr. Salazar worked on multiple campaign initiatives for the political consultant Mr. James Carville Jr. Mr. Salazar has also worked on multiple permitting projects in Imperial County including green energy and industrial projects.
Ms. Zataray spent six years at Western Mesquite Mines, an operating gold mine nine miles from KORE’s Imperial gold project and now owned by Equinox Gold (TSX:EQX), managing permitting with local, state and federal regulatory agencies. Ms. Zataray previously worked at various US locations for Barrick Gold Corporation, including their Cortez gold mine in Nevada. Ms. Zataray has strong relationships in Imperial County and brings strong environmental leadership to KORE.
KORE opened an office in the city of Imperial California in August 2020 to support the Imperial gold project development and exploration activities including project administration.
About KORE Mining Ltd.
KORE is 100% owner of a portfolio of advanced gold exploration and development assets in California and British Columbia. KORE, supported by strategic investors Eric Sprott and Macquarie Bank; and insiders, including management and Board, own 64% of the basic shares outstanding. KORE is well capitalized with recent investment from Mr. Eric Sprott, adding $7.5 million to the treasury. Further information on KORE and its assets can be found on the Company’s website at www.koremining.com and at www.sedar.com, or by contacting us as firstname.lastname@example.org or by telephone at (888) 407-5450.
On behalf of KORE Mining Ltd
Chief Executive Officer
This news release does not constitute an offer to sell or a solicitation of an offer to sell any KORE common shares in the United States.
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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects”, “intends”, “indicates” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the potential gold structures at the District deposits, next steps and timing regarding follow-up programs at the District, results of the PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Imperial Project, the technical viability of the Imperial Project, the market and future price of and demand for gold, the environmental impact of the Imperial Project, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government. Such forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. 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 different from any future results, performance or achievements expressed or implied by the forward-looking information.
Such factors include, among others: risks related to exploration and development activities at the Company’s projects, and factors relating to whether or not mineralization extraction will be commercially viable; risks related to mining operations and the hazards and risks normally encountered in the exploration, development and production of minerals, such as unusual and unexpected geological formations, rock falls, seismic activity, flooding and other conditions involved in the extraction and removal of materials; uncertainties regarding regulatory matters, including obtaining permits and complying with laws and regulations governing exploration, development, production, taxes, labour standards, occupational health, waste disposal, toxic substances, land use, environmental protection, site safety and other matters, and the potential for existing laws and regulations to be amended or more stringently implemented by the relevant authorities; uncertainties regarding estimating mineral resources, which estimates may require revision (either up or down) based on actual production experience; risks relating to fluctuating metals prices and the ability to operate the Company’s projects at a profit in the event of declining metals prices and the need to reassess feasibility of a particular project that estimated resources will be recovered or that they will be recovered at the rates estimated; risks related to title to the Company’s properties, including the risk that the Company’s title may be challenged or impugned by third parties; the ability of the Company to access necessary resources, including mining equipment and crews, on a timely basis and at reasonable cost; competition within the mining industry for the discovery and acquisition of properties from other mining companies, many of which have greater financial, technical and other resources than the Company, for, among other things, the acquisition of mineral claims, leases and other mineral interests as well as for the recruitment and retention of qualified employees and other personnel; access to suitable infrastructure, such as roads, energy and water supplies in the vicinity of the Company’s properties; and risks related to the stage of the Company’s development, including risks relating to limited financial resources, limited availability of additional financing and potential dilution to existing shareholders; reliance on its management and key personnel; inability to obtain adequate or any insurance; exposure to litigation or similar claims; currently unprofitable operations; risks regarding the ability of the Company and its management to manage growth; and potential conflicts of interest.
In addition to the above summary, additional risks and uncertainties are described in the “Risks” section of the Company’s management discussion and analysis for the year ended December 31, 2019 prepared as of April 27, 2020 available under the Company’s issuer profile on http://www.sedar.com.
Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.