Stratabound Announces CEO Retirement & Appoints Interim CEO To Lead Strategic Restructuring and Growth Process in 2024
Toronto, December 19, 2023 - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") announces that the Board of Directors has accepted Kim Tyler's resignation as President and CEO and Director of the Board.
Wendy T. Chan, who was appointed to Stratabound's Board of Directors in September 2023, will assume the role of Interim CEO. Ms. Chan brings considerable global corporate development and strategy experience which she will apply in spearheading a strategic plan to reallocate, showcase, and maximize unlocked value in the Company's five assets. She is a seasoned business manager, with operations experience in private and public companies. Additionally, she brings with her in- depth capital market expertise, having worked with key mining public companies for over a decade.
During his tenue as President and CEO, Kim Tyler steered the Company towards the highly prospective exploration assets in the Yukon and Atlantic Canada, and subsequently led the acquisition of a multimillion gold ounce brownfield development gold asset in the United States.
Hashim Ahmed, Chairman of Stratabound's Board of Directors, commented, "On behalf of the Company, our Board of Directors, and our team, I would like to sincerely express our gratitude for Kim's guidance since 2017. The management of Stratabound including Kim, was instrumental in leading the financing and technical fronts and guiding our California gold project through Preliminary Economic Assessment as well as negotiating and assembling a strong land package in some of the most sought-after areas in gold exploration such as the Yukon Tombstone Gold Belt and New Brunswick."
"On behalf of the management team, I would like to extend our gratitude and best wishes to Kim," commented Gary Nassif, Senior Vice President of Stratabound. "Kim has been a tireless advocate for the development of Canada's resource sector. Stratabound's acquisition of choice assets are a credit to his vision and leadership, and we are now poised for growth and ready to focus on executing our new strategic plan in 2024. I look forward to working with Wendy, as we unlock the value in each of our assets."
Ms. Chan has over 20 years' experience in developing and executing strategic plans for major companies with global outreach, with a focus on mergers and acquisitions, joint ventures, and cross-cultural strategic alliances. In the mining space, companies she has worked with include Skeena Resources, Roxgold, Silver X, Sunridge, Novo Resources, Cordova, Vendetta, and VR Resources. She has profitably managed businesses with full P&L responsibilities and/or completed key projects ranging from $2-$250MM. She has devised strategic plans at Fortune 500 companies such as Johnson & Johnson and GSK-Glaxo-SmithKline and has led negotiations and cross-functional teams in corporate development, marketing, strategic alliances, and product portfolio management. During her time at Moxie Strategy Inc., a management consulting firm that specializes in strategy, business development, and mergers and acquisitions, she has led and completed key development projects in Asia, Australia, Africa, North and South America. Ms. Chan holds a BSc. from University of British Columbia, an MBA in Finance and Marketing from McGill University and ICD.D from Rotman, University of Toronto. She is fluent in Mandarin and Cantonese.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.
Its Golden Culvert and Win Projects, Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn Basin.
Its McIntyre Brook Project, New Brunswick, covering 120 km2 and a 17-km strike length in the emerging Triple Fault Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project.
The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD $217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. The project hosts an NI 43-101 resource of 1.16 MMoz at 1.90 g/t Au within 19.0 MMt Indicated, and 2.02 MMoz at 2.22 g/t Au within 28.3 MMt Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property that features 4 gold-mineralized zones. Significantly, three step-out holes at depth hit structure, typical of orogenic deposits that often occur at depth. Fremont is located on private land in Mariposa, the original gold rush county and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail. Please refer to the Fremont Gold project PEA dated Apr. 4, 2023 under NI 43-101 guidelines. The technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.
The Company also holds a pipeline of early-stage exploration projects including the critical mineral Captain Cobalt-Copper-Gold Deposit in New Brunswick and the Dingman Gold Project, Ontario.
Qualified person
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAUSIMM, and who is a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
For more information, please visit the company's website at www.stratabound.com or contact:
Gary Nassif
Senior Vice President, Director
info@stratabound.com
+1 (416) 915-4157
Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext. 702
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 fills release.
WARNING: The Company relies upon litigation protection for "forward-looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
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