ROUYN-NORANDA, QC, Oct. 22, 2024 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce the appointment of Philippe MacKay as the Company's new Chief Executive Officer effective as of November 4, 2024 and that Philippe MacKay and Kerry Sparkes have also been appointed as directors of the Company as of today.
Philippe MacKay joins Fokus after nearly ten years at the Osisko Group, where he last held the position of Mine Manager for the Cariboo Gold Project. In this role, he managed all facets of operations, engineering, and permitting, while also fostering strong community relationships. Notably, he successfully developed the project from exploration to the final stage of permitting and development, showcasing his strong leadership and strategic insight. He earned a Diploma in Mining Engineering from Polytechnique Montréal and an MBA from the Ivey Business School, providing him with a solid blend of technical expertise and business knowledge.
Philippe MacKay stated: "I'm thrilled to start this new chapter in my career as CEO and shareholder of Fokus. I am fully committed on developing the Galloway Project in this well-known mining district. My main objective is to deliver maximum value for all Fokus shareholders."
Kerry Sparkes has over 35 years of experience in mineral exploration as an exploration geologist and mining executive. His career has included the exploration, delineation and development of two major Canadian deposits (Voisey's Bay & Rainy River), VP of Geology for Franco-Nevada Corporation and he was a founder and director of Orla Mining Ltd. Mr. Sparkes is currently President of Sparrowhawk Consulting Ltd. and sits on the board of Aurion Resources Ltd., AuMega Metals Ltd., and Prime Mining Corp, where he also serves as technical advisor. He received both his undergraduate and graduate degrees from the Memorial University of Newfoundland and is a registered professional geologist in Newfoundland & Labrador.
Sylvain Champagne, Fokus' Interim CEO and President stated: "We are very pleased and excited with the addition of Messrs. MacKay and Sparkes to the Fokus team. Collectively, they will bring a depth of experience and knowledge in all areas of exploration and mining, project management and development which Fokus and its shareholders will greatly benefit from. These new additions will help Fokus to develop its Galloway property."
Fokus also announces that its board of directors has granted 2,000,000 and 400,000 stock options to Mr. MacKay and to Mr. Sparkes respectively pursuant to the Company's stock option plan. Each option is exercisable at a price of $0.095. The options vest immediately and will expire in five years from the date of grant.
About Fokus
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the Province of Québec, Canada. In implementing this major undertaking within the Canadian mining industry, it is aiming to unlock the secret of the Galloway gold project.
The 100% Galloway Project covers an area of 2,865.54 hectares and is located just north of the Cadillac-Larder Lake deformation, which extends for more than 100km. Numerous gold deposits are associated with the structure and its subsidiaries. The recent work focused on the western part of the mineral claims has allowed the Company to delineate a NI 43-101 inferred resource of 1.419 million ounces of gold at a price of US$1,750 per ounce. This was published in the March 2023 press release, which includes a sensitivity table showing that at a price of US$1,960 per ounce, the inferred resource increases to 1.788 million ounces of gold.
On behalf of the Board of Directors: Sylvain Champagne, Interim CEO and President Tel.: (819) 762-0609, Fax: (819) 762-0097 Email: info@fokusmining.com
Certain statements contained in this press release may constitute forward-looking information or statements. Forward-looking information is often, but not always, identified using words such as "anticipate", "plan", "estimate", "expect", "may", "will", "will have", "should", and other similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information due to regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes in the Company's strategic growth plans and other factors, many of which are beyond the Company's control. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and, accordingly, such forward-looking information should not be relied upon as such. All forward-looking information contained in this press release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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