Fortitude Gold Appoints Mr. John Labate as Chief Financial Officer

Rhea-AI Summary

Fortitude Gold Corp. (OTC PINK:FRTT) has appointed Mr. John Labate as its new Chief Financial Officer, enhancing its management team with over 35 years of industry experience. Previously, Labate served as CFO for notable mining firms including Gold Resource Corporation and Golden Star Resources. Under the leadership of CEO Jason Reid, the company aims to leverage Labate's expertise to optimize operations and drive future growth. Fortitude Gold focuses on low-cost, high-margin gold projects in Nevada, with an emphasis on remaining debt-free and providing dividends.

Positive

• Appointment of John Labate as CFO brings over 35 years of experience in the mining industry.
• Labate's prior CFO roles at reputable mining firms may enhance strategic financial management.
• Focus on maintaining low operating costs and high margins aligns with strong returns on capital.

Negative

• Potential risk in continuity as new CFO may need time to integrate into existing management.
• Uncertainties related to the COVID-19 pandemic could impact future operations and production rates.

COLORADO SPRINGS, CO / ACCESSWIRE / March 1, 2021 / Fortitude Gold Corp. (OTC PINK:FRTT) (the "Company") today announced it has appointed Mr. John Labate as its Chief Financial Officer (CFO). Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A.

Mr. Labate is an experienced mining industry executive with over thirty-five years of financial management and accounting experience. His extensive experience includes previously serving as CFO for Gold Resource Corporation, Golden Star Resources Ltd., Constellation Copper Corporation and Crown Resources Corporation.

"John is an accomplished and seasoned executive with significant senior financial expertise as a mining industry CFO," stated Fortitude Gold's CEO and President, Mr. Jason Reid. "Having previously worked with John, I know he is an exceptional addition to our management team. The Board welcomes John and we look forward to leveraging his expertise to build the Company."

About Fortitude Gold Corp.
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins and strong returns on capital. The Company strategy is to grow organically, remain debt-free and distribute substantial future dividends. The Company's Nevada Mining Unit consists of five high-grade gold properties located in the Walker Lane Mineral Belt, with the Isabella Pearl gold mine in current production. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.

Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Fortitude Gold

Corporation's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Fortitude Gold Corporation on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements.

Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. In particular, the scope, duration, and impact of the COVID-19 pandemic on mining operations, Company employees, and supply chains as well as the scope, duration and impact of government action aimed at mitigating the pandemic may cause future actual results to differ materially from those expressed or implied by such forward-looking statements. Also, there can be no assurance that production will continue at any specific rate.

Contact:
Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com

SOURCE: Fortitude Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/632486/Fortitude-Gold-Appoints-Mr-John-Labate-as-Chief-Financial-Officer

FAQ

Who is the new CFO of Fortitude Gold Corp. as of March 2021?

Mr. John Labate is appointed as the new Chief Financial Officer of Fortitude Gold Corp.

What experience does John Labate have in the mining industry?

John Labate has over 35 years of financial management experience and previously served as CFO for various mining companies.

How does the appointment of John Labate impact Fortitude Gold Corp.?

His expertise is expected to strengthen the company's financial management and operational strategies, supporting its growth and dividend goals.

What are the current operations of Fortitude Gold Corp.?

Fortitude Gold operates in Nevada, targeting gold projects with low operating costs and high margins.