TORONTO, Dec. 6, 2021 /CNW/ - Karora Resources Inc. (TSX:
KRR) (OTCQX: KRRGF) ("Karora" or the "Corporation") is pleased to
announce the appointment of Shirley In't Veld to its Board of
Directors effective immediately.
Paul Andre Huet, Chairman and CEO
of Karora said, ""I am pleased to welcome Shirley In't Veld to
Karora's Board of Directors. The addition of Shirley's extensive
experience as a senior executive and director in the Australian
mining, renewables and energy sectors to our team further
strengthens our Board and is a strong endorsement of Karora's
position as a premier gold producer. In particular, her experience
as a former Director of Northern Star Resources (an Australian gold
producer with World class projects located in Australia and North
America), her in depth knowledge of Western Australia, and expertise in ESG
matters will be a tremendous addition to our Board. We look forward
to benefitting from Shirley's input as we continue to unlock the
full potential of our Australian operations."
Shirley In't Veld has over 30 years of career experience in
mining, renewables and energy sectors. She is currently a Director
of Alumina Limited, NBN Co Limited (National Broadband Network Co.)
and APA Group. She was formerly Deputy Chair of CSIRO (Commonwealth
Science and Industrial Research Organisation), Director of Northern
Star Resources Limited, Perth Airport, DUET Group, Asciano Limited
and Alcoa of Australia Limited and a Council Member of the Chamber
of Commerce and Industry of Western
Australia. She was also the Managing Director of Verve
Energy (2007 – 2012) and, previously, served 10 years in senior
roles at Alcoa of Australia Limited, WMC Resources Ltd, Bond
Corporation and BankWest Perth.
In 2014, Shirley was Chair of the Queensland Government Expert
Electricity Panel and a member of the Renewable Energy Target
Review Panel for the Australian Department of Prime Minister and
Cabinet. She also served as a member of the COAG Energy Council
Selection Panel, a Council member of the Australian Institute of
Company Directors (Western
Australia) and the SMART Infrastructure Facility (University
of Wollongong).
About Karora Resources
Karora is focused on doubling gold production to 200,000 ounces
by 2024 compared to 2020 and reducing costs at its integrated Beta
Hunt Gold Mine and Higginsville Gold Operations ("HGO") in
Western Australia. The
Higginsville treatment facility is a low-cost 1.6 Mtpa processing
plant, expanding to a planned 2.5 Mtpa by 2024, which is fed at
capacity from Karora's underground Beta Hunt mine and Higginsville
mines. At Beta Hunt, a robust gold Mineral Resource and Reserve is
hosted in multiple gold shears, with gold intersections along a 4
km strike length remaining open in multiple directions. HGO has a
substantial Mineral gold Resource and Reserve and prospective land
package totaling approximately 1,900 square kilometers. The Company
also owns the high grade Spargos Reward project which is
anticipated to begin mining in 2021. Karora has a strong Board and
management team focused on delivering shareholder value and
responsible mining, as demonstrated by Karora's commitment to
reducing emissions across its operations. Karora's common shares
trade on the TSX under the symbol KRR and also trade on the OTCQX
market under the symbol KRRGF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information"
including without limitation statements relating to the growth
potential of the Beta Hunt Mine, the results of exploration and
development work, liquidity and capital resources of Karora,
production guidance and the potential of the Beta Hunt Mine,
Higginsville Gold Operation, the Aquarius Project and the Spargos
Gold Project.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Karora to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to Karora 's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and Karora disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
Cautionary Statement Regarding the Higginsville Mining
Operations
A production decision at the Higginsville
gold operations was made by previous operators of the mine, prior
to the completion of the acquisition of the Higginsville gold
operations by Karora and Karora made a decision to continue
production subsequent to the acquisition. This decision by Karora
to continue production and, to the knowledge of Karora, the prior
production decision were not based on a feasibility study of
mineral reserves, demonstrating economic and technical viability,
and, as a result, there may be an increased uncertainty of
achieving any particular level of recovery of minerals or the cost
of such recovery, which include increased risks associated with
developing a commercially mineable deposit. Historically, such
projects have a much higher risk of economic and technical failure.
There is no guarantee that anticipated production costs will be
achieved. Failure to achieve the anticipated production costs would
have a material adverse impact on the Corporation's cash flow and
future profitability. Readers are cautioned that there is increased
uncertainty and higher risk of economic and technical failure
associated with such production decisions.
www.karoraresources.com
SOURCE Karora Resources Inc.