Veteran mining executive and financier joins ESGold’s board as it accelerates towards gold production
VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) -- via IBN -- ESGold Corp. (“ESGold” or the “Company”) (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is pleased to announce the appointment of seasoned mining executive and former global investment banker Peter Espig to its Board of Directors, effective immediately.
With deep roots in both global capital markets and operational mining leadership, Mr. Espig brings a high-caliber track record to ESGold at a pivotal stage in the company’s evolution. ESGold is currently advancing its fully permitted Montauban Gold-Silver Project in Quebec toward production in 2025, marking its transformation from an exploration-stage junior into one of Canada’s next precious metals producers.
Profile of Leadership Peter Espig served as Vice-President at Goldman Sachs Japan in both the Principal Finance and Securitization Group and the Asia Special Situations Group, where his team participated in more than $10 billion in structured deals, capital raises, and cross-border transactions. Prior to Goldman Sachs, he was Vice-President at Olympus Capital, a New York-based private equity firm, where he focused on corporate restructurings, investment analysis, and international financing negotiations. He also played a pioneering role in some of the earliest SPAC transactions, totaling over US$1.2 billion, and brings deep experience in disciplined capital deployment and turnaround execution.
Since 2013, Mr. Espig has served as President and CEO of Nicola Mining Inc., where he led the company out of creditor protection and transformed it from a distressed asset into a cash-flowing mining enterprise — a rare achievement for a junior miner. Under his leadership, Nicola not only achieved production but also established multiple milling partnerships and saw its market capitalization grow over ten-fold — a testament to disciplined execution, lean operations, and long-term value creation.
Mr. Espig holds a Bachelor of Arts from the University of British Columbia and an MBA from Columbia Business School, where he was a Chazen International Scholar. He has served on various public boards and was recognized among Industry Era’s “Top 10 Admired Leaders” in 2023.
CEO Commentary “We are thrilled to welcome Peter Espig to ESGold’s board at this pivotal juncture for the company,” said Paul Mastantuono, CEO of ESGold Corp. “Peter brings the rare combination of global finance experience and operational mining success. His track record of building profitable mining companies and unlocking long-term value will be instrumental as ESGold evolves into a producer, scales responsibly, and focuses on maximizing shareholder value through every stage of growth.”
Statement from Peter Espig “ESGold is entering a transformational phase — one that few mining companies successfully reach,” said Peter Espig. “With a permitted asset, near-term production, and an ambitious but disciplined leadership team, I believe ESGold has the building blocks to become a scalable and sustainable Canadian producer. I look forward to contributing my experience to support this transition and help guide long-term growth.”
What’s Next for ESGold
Production Preparation – Mill circuit construction is advancing at Montauban, with first gold and silver production targeted for late 2025
Updated Preliminary Economic Assessment (PEA) – In progress to reflect stronger gold and silver prices and improved project economics
3D Geological Modeling – Underway, integrating geophysics, ANT imaging, and historical drill data
Expanded Exploration Strategy – Following release of 3D model, ESGold plans to expand its ANT survey and drill targeting.
About ESGold Corp. ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its projects toward production and feasibility while delivering long-term value through sustainable resource recovery and exploration. ESGold’s flagship Montauban property, located 80 kilometers west of Quebec City, serves as a model for responsible mining practices, combining near-term production with district-scale discovery potential.
For more information, please contact ESGold Corp. at +1-888-370-1059 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.
ESGold Corp. "Paul Mastantuono" President & Director info@esgold.com +1-888-370-1059
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of applicable securities laws. These statements are based on assumptions and expectations that involve a number of known and unknown risks and uncertainties. Actual results could differ materially. Forward-looking information includes statements regarding the expected use of proceeds, the development and construction timelines of the Montauban Project, future production, and anticipated project milestones. Investors are cautioned not to place undue reliance on these forward-looking statements. All forward-looking information contained in this release is qualified by these cautionary statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
