TORONTO, Jan. 23, 2019 /CNW/ - Adventus Zinc
Corporation (TSXV: ADZN OTCQX: ADVZF) ("Adventus") and its
board of directors are pleased to announce the appointment of
Barry Murphy as independent director
and Gunther Sotomayor as Vice
President, Projects.
Mr. Murphy is a mining professional with over 30 years of
experience on copper, gold, and platinum projects on three
continents. He has held senior executive positions with
Anglo American and Yamana Gold where
he led both technical and project development teams. His most
recent experience includes the development of open-pit and
underground mines in Chile,
Peru, Argentina, and Brazil. Prior to these projects, Mr. Murphy
held management positions at engineering and construction services
firms Hatch and Murray & Roberts Cementation Limited. He
holds a Bachelor of Science degree in Mechanical Engineering from
the University of Witwatersrand, Johannesburg and a Bachelor of Commerce degree
from the University of South
Africa. Mr. Murphy is a registered Professional Engineer
with the Engineering Council of South
Africa and a Project Management Professional with the
Project Management Institute.
Mr. Sotomayor is a project management professional with over 20
years of international experience in project development for mining
and petroleum industries. As a member of owner's teams and as a
consultant, he has held leadership roles in project management and
construction on various mining projects in Latin America, including Freeport McMoRan
Inc.'s expansion of Cerro Verde in
Peru, and most recently Lundin
Gold Inc.'s Fruta del Norte project in Ecuador. Over his extensive project career,
Mr. Sotomayor has worked on all stages of engineering study and
construction, from NI 43-101 standard preliminary economic
assessments, pre-feasibility and feasibility studies to
construction of process plants and support infrastructure on both
green and brownfield developments. Mr. Sotomayor is a native of
Guayaquil, Ecuador and hold a
Bachelor of Science degree in Mechanical Engineering from Escuela
Superior Politécnica del Litoral (ESPOL). Mr. Sotomayor will be
based in Ecuador.
As Adventus embarks on significant exploration and engineering
work in advancing the Curipamba, Pijilí and Santiago projects in Ecuador, it continues to build its core
management team. On behalf of the board of directors, Christian Kargl-Simard, President and Chief
Executive Officer of Adventus, commented: "We are pleased and
excited to welcome both Barry Murphy
and Gunther Sotomayor to our growing
company. Both individuals bring extensive engineering, design and
construction experience from successful mining projects in
Latin America, which will provide
valuable oversight and hands-on contributions to our team as we
advance Curipamba and our other Ecuadorian copper-gold
projects."
Adventus has today granted 100,000 stock options to Mr. Murphy
and 400,000 stock options to Mr. Sotomayor. These options are
exercisable at C$0.78 per share
expiring in five years and vesting over a 3-year period in
accordance with the terms of Adventus' Stock Option Plan and
subject to regulatory approval.
Name Change
With the focus now on copper in
Ecuador, Adventus will be asking
its shareholders to consider and approve a name change to "Adventus
Mining Corporation" at the next annual meeting in June 2019. Mr. Kargl-Simard commented: "Adventus
spent close to two years evaluating over 240 zinc-related assets
around the globe. While we were unable to acquire a zinc-dominant
opportunity that met our stringent investment criteria, we were
able to identify and form a partnership for the Curipamba
copper-gold project in Ecuador.
With our focus in Ecuador and
increasing knowledge of the country's mineral prospectivity,
Adventus secured two additional exploration projects in 2018 as we
seek to build a portfolio of attractive projects in-country. With
respect to zinc, we will continue to monitor and update the
intellectual property that we have developed, but as such, we
believe the name change to be appropriate at this time. Adventus
will continue to have zinc exposure through our equity shareholding
in Canstar Resources Inc., future transactions and programs
involving our non-core portfolio of projects in Ireland, and as part of our flagship Curipamba
project."
About Adventus
Adventus is a well-financed company
focused on base metals exploration and project development
globally. Its strategic shareholders include Altius Minerals
Corporation, Greenstone Resources LP, Resource Capital Funds, and
Wheaton Precious Metals Corp.; as well as other highly respected
investors in the mining business. The focus of Adventus is the
advancement of the Curipamba copper-gold-zinc project in
Ecuador as part of an earn-in
agreement to obtain a 75% ownership interest. In addition, Adventus
is engaged in a country-wide exploration alliance with its partners
in Ecuador, incorporating two
projects to date. Elsewhere globally, Adventus owns a large
prospective mineral land package in Ireland totalling 1,950 km2 and,
through its ownership interest in Canstar Resources Inc., is
actively participating in the exploration upside of a prospective
mineral land package in Newfoundland and Labrador, Canada totalling 550 km2.
Adventus is based in Toronto,
Canada, and is listed on the TSX-V under the symbol ADZN and
on the OTCQX under the symbol ADVZF.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Adventus Zinc Corporation