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TORONTO, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce several senior management changes including:
Board of Directors Changes
William (Bill) Fisher has joined the Board as Chairman and Nils Engelstad has concurrently resigned as a Director to make way for Mr. Fisher’s appointment.
Mr. Fisher is a geologist with extensive industry experience including posts in Africa, Australia, Europe and Canada. He was a production geologist developing and mining paleoplacer diamond deposits in Angola and Guinea and served as a director of Rockwell Diamonds, which was mining placers in the Orange River valley in South Africa. He was CEO of Karmin Exploration which discovered the Aripuan? base metal massive sulphide deposits in Brazil. From 1997 to 2001, he was Vice President, Exploration for Boliden AB, a major European mining and smelting company where he was responsible for thirty-five exploration and development projects in nine countries. From 2001 to 2008, Mr. Fisher led GlobeStar Mining Corp. from an exploration company to an emerging precious and base metal producer in the Dominican Republic, financing and developing the Cerro de Maimon copper/gold mine, which was sold to Perilya for $186 million. He was also Chairman of Aurelian Resources, which was sold to Kinross Gold in 2008 for $1.2 billion after the discovery of the Fruta del Norte gold deposit in Ecuador (now operated by Lundin Gold). He was CEO of GoldQuest Mining in 2012 when it discovered the multi-million-ounce Romero gold deposit in the Dominican Republic. He currently serves as an independent director of GoldQuest Mining, Churchill Resources and Great Republic Mining.
Management Change
Wesley Whymark has been promoted to President and Head of Exploration effective immediately. Wesley will take over the day-to-day management of the Company and oversee exploration. Stefan Spears will remain the Chief Executive Officer and a Director.
Mr. Whymark is a Professional Geoscientist with over fourteen years of experience in mineral exploration. His specialization encompasses the exploration of precious and base metals deposits, with a particular focus on orogenic, paleoplacer, hydrothermal, and magmatic-type mineral systems. Mr. Whymark earned his Bachelor of Science Honours degree from Laurentian University and advanced his academic knowledge by conducting postgraduate PhD research at Würzburg University. He is a registered Professional Geologist with the Association of Professional Geoscientists Ontario (PGO).
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 168 million common shares outstanding.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
