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 InformationThis
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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