TORONTO, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Compass Gold Corp. (TSX-V:CVB) (Compass or the Company) is pleased to announce the formal appointment of three new members to the executive management team.
As previously announced by the Company on November 29, 2017, Larry Phillips has been appointed President and Chief Executive Officer. At a meeting of the Board of Directors on December 12th, the Directors appointed Louis Nagy as the Company’s Chief Financial Officer and Corporate Secretary, replacing Lara Iacusso and Danica Topolewski. The Directors also appointed Sandy Archibald, PhD, PGeo, as Technical Director and Greg Taylor as Director, Investor Relations and Corporate Communications. Further information about the management team is set out below.
Joe Conway and Bill Pugliese have joined the Board as non-executive directors, replacing Lara Iacusso and Malcom Carson, who have stepped down as directors. James Henderson will continue as Chairman and Madani Diallo as a non-executive director.
Larry Phillips, President and CEO, said, “We have assembled a team of highly experienced and dedicated professionals who are now working together to advance our exploration of the Sikasso properties in Southern Mali. I am pleased that we are bringing together strong corporate and technical leadership from former key leaders and founders of IAMGOLD, along with the two principal members of the previous Compass group who were primarily responsible for the advancement of our highly prospective Malian assets. The management team and directors look forward to a productive and exciting year as we work to build the ‘new’ Compass for the benefit of all of our stakeholders.”
Exploration Program Launched
The Company’s Mali-based technical team, led in the field by Dr. Diallo and under the supervision of Dr. Archibald, is initiating Compass’s new exploration program. This work is examining the first of at least 35 anomalies noted for further investigation in the August 2017 “National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali.” The primary objective of the overall program is to test anomalies that had been previously identified primarily through airborne surveying and interpretation of the area.
The exploration team is starting on a portion of the Ouassada area target, part of the Yanfolila permit in the northwestern portion of Compass’s property area. Four local geologists, led by Dr. Diallo, are conducting geochemical sampling using the first auger drill mobilized to the site. The team is expected to gather approximately 1,500 samples before the end of the year, which will be sent for assay – along with an appropriate number of international standard reference material samples – to the SGS laboratory in Mali. These first results are expected during the first quarter of the New Year.
About The Team:
James Henderson, Chairman: Mr. Henderson is the founder and Executive Chairman of Transocean Securities, which was established in 1987. A qualified Chartered Accountant, he has over 30 years’ experience in providing financial advisory services in Canada and overseas across a wide range of industries including mining and resources, healthcare and medical devices, aged care and clean energy. He is an experienced chairman, board member, chief executive officer and corporate adviser of both public and private companies. Mr. Henderson is the former chairman of Oklo Resources Limited (ASX:OKU) (Oklo) and led the successful acquisition by Oklo of the Company’s former gold assets also based in Mali.
Larry Phillips, Pres. & CEO, Dir.: Mr. Phillips, a lawyer and a co-founder of IAMGOLD Corp. in 1990, was responsible for directing and managing all international investments, joint ventures and government relationships, helping build IAMGOLD into one of the largest gold mining companies in the world. He has been a member or advisor to numerous boards of directors, and served in senior executive positions with IAMGOLD, Niagara Ventures Corporation and Euro Ressources SA. He has been Non-Executive Director of Compass Gold Corporation since May 8, 2012. He serves as the President of Corplex Management Services, through which he provides corporate advisory services and directorship to public and private companies. Prior to joining IMG, he was the managing partner of a Toronto-based law firm specializing in corporate commercial law. He served as a Board Member of The World Gold Council from 2006 to 2011.
Joe Conway, Non-exec. Dir.: Mr. Conway has nearly 30 years of mining and financial industry experience. Mr. Conway served as President and CEO of IAMGOLD from 2003 to 2010. Mr. Conway has a B.Sc. from Memorial University of Newfoundland (1981), and an MBA from Dalhousie University (1987). He has been Interim Chief Executive Officer and Interim President of Primero Mining Corp (TSX:P) (Primero) since March 2017 and has held numerous other executive positions with Primero since 2010.
Bill Pugliese, Non-exec. Dir.: Mr. Pugliese was one of the founders of IAMGOLD and served as its Chief Executive Officer of IAMGOLD until January 2003. Mr. Pugliese continued as Chairman of the Board of Directors of IAMGOLD until 2016. He participated directly in the evolution of IAMGold, including the development of the Sadiola concession in Mali through his dealings with government officials and joint venture partners. He has an extensive business background developed over a period of 35 years as the principal shareholder in a number of private Canadian companies.
Dr. Madani Diallo, Non-exec. Dir.: Dr. Madani Diallo has a Ph.D. in geochemistry obtained at the University of Leningrad in the former Soviet Union in 1979. He has held several positions as a civil servant, technical expert for the United Nations and Exploration Manager Africa for BHP Minerals, for whom he worked as an expatriate for 10 years. Until 2008, he was also General Manager of AngloGold Ashanti’s Mali operations. He has contributed significantly to mining development in Mali and has worked as an independent consultant in the management of mineral resources and its development in several African countries.
Louis Nagy, CFO: Mr. Nagy is a chartered accountant with over 29 years of professional service and industry experience, including a decade of public practice audit engagements, personal and corporate tax assignments, as well as sales tax recovery consulting. He has also held various finance and accounting roles, including CFO within small to medium sized private and public companies. Currently, he provides internal and external financial reporting services, as well as corporate secretary services, as a part time CFO for a variety of small companies, mainly focused on junior mining.
Dr. Sandy Archibald, PGeo, Technical Director: Dr. Archibald has over 25 years of experience in the mineral exploration industry and has participated in academic and industry projects throughout the Americas, Europe, and Africa. He has been involved in gold, base-metal, uranium, diamond, and nickel exploration and has carried out extensive research on Au-Ag metal-rich geothermal systems. He was responsible for the latest “National Instrument 43-101 Technical Report on the Sikasso Property, Southern Mali,” prepared for Compass.
Greg W. Taylor, Dir. IR & Corp. Comm.: Greg Taylor is an investor relations and corporate communications professional focused primarily on the resource sector. A former journalist with an extensive agency background, he has worked with more than 50 private or public resource companies, providing a full range of global investor relations and corporate communications strategic and tactical services.
About Compass
Compass, a public company currently organized under the laws of British Columbia and being continued into Ontario, is a Tier 2 issuer on the TSX-V.
Through the recent acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 1,179 km2. The Sikasso Property is located in the same region as several other multi-million ounce gold projects, including Morila, Syama, Kalana and Kodieran.
Forward‐Looking Information
This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.
For further information please contact:
| Compass Gold Corporation | Compass Gold Corporation |
| Larry Phillips – Pres. & CEO | Greg Taylor – Dir. Investor Relations & Corporate Communications |
| lphillips@compassgoldcorp.com | gtaylor@compassgoldcorp.com |
| T: +1 416-648-4767 | T: +1 416-605-5120 |
Website: www.compassgoldcorp.com
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