Rouyn-Noranda, Québec, Canada, October 22, 2024 – Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV-FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce the appointment of Philippe MacKay as the Company’s new Chief Executive Officer effective as of November 4, 2024 and that Philippe MacKay and Kerry Sparkes have also been appointed as directors of the Company as of today.
Philippe MacKay joins Fokus after nearly ten years at the Osisko Group, where he last held the position of Mine Manager for the Cariboo Gold Project. In this role, he managed all facets of operations, engineering, and permitting, while also fostering strong community relationships. Notably, he successfully developed the project from exploration to the final stage of permitting and development, showcasing his strong leadership and strategic insight. He earned a Diploma in Mining Engineering from Polytechnique Montréal and an MBA from the Ivey Business School, providing him with a solid blend of technical expertise and business knowledge.
Philippe MacKay stated: “I’m thrilled to start this new chapter in my career as CEO and shareholder of Fokus. I am fully committed on developing the Galloway Project in this well known mining district. My main objective is to deliver maximum value for all Fokus shareholders.”
Kerry Sparkes has over 35 years of experience in mineral exploration as an exploration geologist and mining executive. His career has included the exploration, delineation and development of two major Canadian deposits (Voisey’s Bay & Rainy River), VP of Geology for Franco-Nevada Corporation and he was a founder and director of Orla Mining Ltd. Mr. Sparkes is currently President of Sparrowhawk Consulting Ltd. and sits on the board of Aurion Resources Ltd., AuMega Metals Ltd., and Prime Mining Corp, where he also serves as technical advisor. He received both his undergraduate and graduate degrees from the Memorial University of Newfoundland and is a registered professional geologist in Newfoundland & Labrador.
Sylvain Champagne, Fokus’ Interim CEO and President stated: “We are very pleased and excited with the addition of Messrs. MacKay and Sparkes to the Fokus team. Collectively, they will bring a depth of experience and knowledge in all areas of exploration and mining, project management and development which Fokus and its shareholders will greatly benefit from. These new additions will help Fokus to develop its Galloway property.”
Fokus also announces that its board of directors has granted 2,000,000 and 400,000 stock options to Mr. MacKay and to Mr. Sparkes respectively pursuant to the Company’s stock option plan. Each option is exercisable at a price of $0.095. The options vest immediately and will expire in five years from the date of grant.
About Fokus Mining
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the Province of Québec, Canada. In implementing this major undertaking within the Canadian mining industry, it is aiming to unlock the secret of the Galloway gold project.
The 100% Galloway Project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation, which extends for more than 100km. Numerous gold deposits are associated with the structure and its subsidiaries. The recent work focused on the western part of the mineral claims has allowed the Company to delineate a NI 43-101 inferred resource of 1.419 million ounces of gold at a price of US$1,750 per ounce. This was published in the March 2023 press release, which includes a sensitivity table showing that at a price of US$1,960 per ounce, the inferred resource increases to 1.788 million ounces of gold.
On behalf of the Board of Directors:
Sylvain Champagne, Interim CEO and President
Tel.: (819) 762-0609, Fax: (819) 762-0097
Email: info@fokusmining.com
Related Links
https://fokusmining.com/
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This press release may contain certain forward-looking information and statements (“forward looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially
from those contemplated by these statements, including but not limited to, the completion of the Offering, the payment of a finder’s fee, obtaining approval of the TSXV, and the intended use of the proceeds of the Offering. The Company undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in the forward-looking information in this press release are reasonable, such forward looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, including but not limited to: market risk; general economic risk; the approval of the Offering on the terms proposed herein by the applicable regulatory bodies, prices of commodities, and management’s ability to execute its business plan. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
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