Orbec Appoints Mr. John Tait as CEO and Announces Changes to its Board of Directors

Rhea-AI Summary

Mines D'Or Orbec (TSXV: BLUE) has announced significant leadership changes effective February 27, 2025. John Tait has been appointed as the new CEO and Director, bringing over 25 years of mining exploration experience. Tait's notable achievement includes his role as President of Southern Star Resources Inc., which was later sold to Goldcorp Inc. for C$1.5 billion in 2008.

The current CEO and Director, Dorian L. (Dusty) Nicol, will step down but continue as an advisor, contributing his geological expertise to the company's Muus property development. This property is strategically located adjacent to IAMGOLD 's Nelligan gold deposit, which currently holds 8.3 million oz of gold with potential for growth.

Positive

• New CEO brings 25+ years of mining exploration experience
• CEO's track record includes C$1.5B company sale to Goldcorp
• Former CEO remains as advisor maintaining geological expertise continuity
• Strategic property location next to 8.3M oz gold deposit

Negative

• Leadership transition may cause temporary operational adjustments

Toronto, Ontario--(Newsfile Corp. - February 27, 2025) - Mines D'Or Orbec Inc. (TSXV: BLUE) (the "Company") has several announcements to share. On behalf of the Board of Directors (the "Board"), Mr. Chad Williams -- Chairman, wishes to welcome Mr. John Tait as the Company's new Chief Executive Officer ("CEO") and Director effective February 27, 2025. Mr. Tait has been involved in mining exploration for over 25 years, highlighted by his tenure as President of Southern Star Resources Inc. (which became Gold Eagle Mines Limited that was sold to Goldcorp Inc. in 2008 for roughly C$1.5 billion). Mr. Tait has also been an Officer and Director of several exploration companies throughout his career.

Concurrently, the Board announces that Mr. Dorian L. (Dusty) Nicol has decided to step down from his position as CEO and Director of the Company effective February 27, 2025. He will continue to serve as an advisor where his vast geological knowledge will be leveraged. Mr. Nicol's expertise will help identify what the Company believes will be a sizeable gold deposit at the 100%-owned Muus property that is contiguous, and on-strike, with IAMGOLD Corporation's 8.3 million oz - and growing - Nelligan gold deposit.

Mr. Williams commented, "We are very happy to welcome John as the new Orbec CEO. His significant experience and network in the mining industry will undoubtedly greatly benefit our shareholders. On behalf of the Board, I extend our gratitude to Dusty for his valuable contributions during his tenure as CEO of Orbec."

About Orbec

Orbec is a gold company that owns 100% of a large and highly prospective mineral claim position near Chibougamau, Québec. The Muus Project covers approximately 25,250 hectares in the northeastern part of the Abitibi Greenstone Belt. Muus is prospective for gold mineralisation and is adjacent to and on strike with IAMGOLD's 8.3 million oz Nelligan Gold Project. Orbec has announced that exploration of the Muus Gold Project will advance in technical collaboration with IAMGOLD, which owns approximately 8.3% of the Company. Field work completed during 2022 established that the northern portion of the Muus Gold Project is also prospective for copper-gold volcanogenic massive sulphide mineralisation, as well as confirming that it is prospective for high-grade gold mineralisation similar to IAMGOLD's nearby Monster Lake gold deposit.

ON BEHALF OF THE BOARD

Chad Williams, Chairman

For more information, please visit our website www.orbec.ca or contact Mr. Chad Williams, info@orbec.ca.

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 this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the size and use of proceeds of the Offering, the timing and ability of the to close the Offering, including obtaining approval of the Offering from the TSX Venture Exchange, if at all (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242633

FAQ

Who is the new CEO of Mines D'Or Orbec (BLTMF) as of February 2025?

John Tait was appointed as the new CEO of Mines D'Or Orbec effective February 27, 2025.

What is John Tait's background and experience before joining BLTMF?

John Tait has over 25 years in mining exploration and was President of Southern Star Resources Inc., which sold to Goldcorp for C$1.5 billion in 2008.

What role will former BLTMF CEO Dorian Nicol maintain with the company?

Dorian Nicol will continue as an advisor, focusing on geological expertise for the Muus property development.

What is the strategic significance of BLTMF's Muus property?

The Muus property is 100%-owned and contiguous with IAMGOLD's Nelligan gold deposit, which contains 8.3 million oz of gold.