Komet Announces Corporate Restructuring

QUEBEC CITY, May 16, 2018 (GLOBE NEWSWIRE) -- Komet Resources Inc. (“Komet” or the “Company”) (TSX-V:KMT) announces appointments for the following executive positions effective May 14, 2018:

• Mr. Werner Claessens as President and Chief Executive Officer;
• Mr. Pascal Van Osta as Vice-president Exploration and Chief Operating Officer;
• Mr. Étienne Courchesne as Chief Financial Officer.

Mr. Claessens and Mr. Van Osta are professional geologists and collectively have over 70 years of experience in gold and base metal exploration in West Africa and the Guyana Shield of South America. During their parallel careers they achieved several successes as part of the teams that discovered Sadiola Hill and Morila gold deposits in Mali, Samira Hill in Niger, Youga in Burkina Faso and Agbaou Hill in Côte d’Ivoire, all of which became producing mines. More recently they focused on the world class gold-copper Toroparu project in Guyana, which is now at the feasibility stage. Mr. Claessens experience has been more focussed on management and development of large projects whereas Mr. Van Osta’s strength is focussed on exploration and operations. Both are Professional Geologists with Master’s degrees and are registered with the European Federation of Geologists.

Mr. Étienne Courchesne (CPA, CA) has over 15 years of experience in public company financial reporting, more recently in the mining industry. He is a graduate of Hautes-Études Commerciales (HEC) in Montreal in accounting, earning his CA designation in 2002. Prior to joining Komet, Mr. Courchesne was Corporate controller of Stornoway Diamond Corp., who operates a successful diamond mine in Northern Québec.

The Company would also like to announce the appointment of Mr. Claessens to the Board of Directors to replace Mr. Marcel Robillard, who has resigned from the Board to focus on the growth of Puma Exploration. Mr. Robillard is sincerely thanked for his services to Komet Resources since its inception.

Mr. Robert Wares, Chairman of Komet, commented: “We are very pleased to add Mrs. Claessens, Van Osta and Courchesne to the executive team of the Company. They bring tremendous professional experience in managing and executing exploration projects, especially West African projects, and have proven capacity to bring any worthwhile mineral discovery to production stage.”

More information about the corporation is available at: http://kometgold.com.

Chairman of the board: Robert P. Wares / rwares@osiskomining.com

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated resources, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.