Ticker Symbols: ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV),
SRLZF (OTCQX)
TORONTO, Feb. 15, 2022 /CNW/ - Adventus Mining
Corporation ("Adventus Mining") (TSXV: ADZN) (OTCQX: ADVZF) and
Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQX:
SRLZF) (collectively the "Participants") are pleased to
announce the appointment of Skott
Mealer as General Manager of Curimining S. A. in
Ecuador, where he will immediately
lead all on-site development, pre-construction, and
stakeholder engagement activities for the Curipamba copper-gold
project. Mr. Mealer will also join the Adventus Mining executive
management team as a Vice President and Officer of the
company. The Participants have also issued a letter of
intent ("LOI") to award an Engineering & Procurement ("EP")
contract to DRA Americas Ltd. ("DRA") to complete the detailed
engineering and long lead equipment procurement for the Curipamba
project.
Mr. Mealer is a project and construction management professional
with over 15 years successfully executing projects in the
Americas, most recently with Kinross Gold
Corporation over the last 10 years. He is fluent in
Spanish and English and has extensive project experience in
Ecuador from his involvement
with both major mines currently in operation within the country
– the Fruta del Norte mine development while under
Kinross ownership, and the Mirador
mine while owned by Corriente Resources. Most recently, Mr.
Mealer managed the restart of Kinross's La Coipa Mine in Chile and will relocate to Ecuador to lead the Curipamba project. As
General Manager at site, Mr. Mealer will be taking a
'hands-on' approach to the execution of the project and
will report to Dustin Small, Vice
President of Projects at Adventus Mining, and work closely with the
Salazar team.
Following the successful completion of the Curipamba feasibility
study led by DRA, Adventus Mining has secured DRA to
continue with the EP phase of the project. Detailed
engineering work has commenced, with the aim to be well advanced by
the expected receipt of ESIA approval. Certified vendor data will
be procured for major process equipment, and the detailed
engineering work will culminate with the preparation and tender of
major contracts packages that will provide a high degree
of cost certainty prior to the construction decision.
Christian Kargl-Simard, President
and Chief Executive Officer of Adventus Mining, commented: "We are
excited to welcome Skott with his extensive
'boots-on-the-ground' project experience across South America back to Ecuador. Skott will be the key leader of
the Curipamba project focused on execution and will work closely
with Adventus's multi-disciplinary management team based in
Toronto and Quito. We are also pleased to continue our
work with DRA to advance the engineering programs at Curipamba
which will allow the Participants to start pre-construction
activities during 2022. In addition to hiring Skott, Adventus
Mining is building momentum on executing key hires to round out the
team."
Grant of Restricted Share Units and Stock Options to New
Construction-Related Employees
Adventus Mining announces the award of an aggregate of 315,000
restricted share units ("RSUs") under its share compensation plan.
Each RSU represents a right to receive one common share, following
the vesting of such restricted share units following a two-year
period. Adventus Mining has also granted an aggregate of 1,250,000
incentive stock options (the "Options") under its share
compensation plan at an exercise price of C$0.81 per optioned share, exercisable for a
period of five years from the date of grant and vesting over a
three-year period.
About Adventus Mining
Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and
development company. Adventus Mining is 75%-owner of the 215 sq. km
Curipamba copper-gold project, which has a completed feasibility
study on the shallow and high-grade El Domo deposit. In addition,
Adventus Mining is engaged in a country-wide exploration alliance
with its partner in Ecuador, which
has incorporated the Pijili and Santiago copper-gold porphyry projects to
date. Outside of Ecuador, Adventus
Mining owns an exploration project portfolio in Ireland with South32 Limited as funding
partner. Its strategic shareholders include Altius Minerals
Corporation, Greenstone Resources LP, Wheaton Precious Metals
Corp., and the Nobis Group of Ecuador. Adventus Mining is based in
Toronto, Canada, and is listed on
the TSX Venture Exchange under the symbol ADZN and trades on the
OTCQX under the symbol ADVZF.
About Salazar
Salazar Resources Limited is focused on creating value and
positive change through discovery, exploration, and development in
Ecuador. The team has an
unrivalled understanding of the geology in-country and has played
an integral role in the discovery of many of the major projects in
Ecuador, including the two newest
operating gold and copper mines. Salazar Resources has a wholly
owned pipeline of copper-gold exploration projects across
Ecuador with a strategy to make
another commercial discovery and farm-out non-core assets. The
Company actively engages with Ecuadorian communities and together
with the Salazar family it co-founded The Salazar Foundation, an
independent non-profit organization dedicated to sustainable
progress through economic development. The Company already has
carried interests in three projects. At its maiden discovery,
Curipamba, Salazar Resources has a 25% stake fully carried through
to production. At two copper-gold porphyry projects, Pijili and
Santiago, the Company has a 20%
stake fully carried through to a construction decision.
This press release contains "forward -looking information"
within the meaning of applicable Canadian securities laws.
Forward-looking statements are based on the beliefs, expectations,
and opinions of the management of the Participants as of the date
the statement is published, and the Participants assume no
obligation to update any forward-looking statement, except as
required by law. In certain cases, forward–looking statements can
be identified by the use of words such as "plans", "expects",
"outlook", "guidance", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "believes", or variations
of such words and phrases or statements that certain actions,
events or results "may", "could", "would", "might", "will be
taken", "occur" or "be achieved" or the negative of these terms or
comparable terminology.
Forward-looking information herein includes, but is not limited
to, statements that address activities, events, or developments
that Adventus Mining and Salazar expect or anticipate will or may
occur in the future. Although Adventus Mining and Salazar have
attempted to identify important factors that could cause actual
actions, events, or results to differ materially from those
described in forward-looking information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated, or intended. There can be no assurance that
such information will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. Adventus Mining and
Salazar undertake to update any forward-looking information except
in accordance with applicable securities laws.
Please also visit the Adventus Mining website at
www.adventusmining.com.
Please also visit the Salazar Resources website at
www.salazarresources.com.
SOURCE Adventus Mining Corporation