GFG Announces Management Change

Rhea-AI Summary

GFG Resources Inc. (GFGSF) announced the resignation of Vice President of Exploration, Mr. Rob Mackie, who is leaving for another opportunity. The company is currently searching for a replacement, but assures that ongoing drill and exploration programs will not be impacted. Under Mackie’s leadership, GFG built a strong exploration team and established a significant land position in Ontario and Wyoming, including the Rattlesnake Hills Gold Project. The company focuses on gold exploration in major mining regions, with a commitment to advancing its projects and technology partnerships.

Positive

• Strong exploration team built under former VP.
• Ongoing drill and exploration programs will continue without disruption.
• Established a significant land position in key gold mining areas.

Negative

• None.

SASKATOON, Saskatchewan, April 08, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that Mr. Rob Mackie, Vice President of Exploration, has resigned to pursue another opportunity. The Company has commenced a search for a new Vice President of Exploration. The current drill and exploration programs will not be disrupted, and the technical team will report to the CEO until the role is filled.

Brian Skanderbeg, President and CEO of GFG, commented, “On behalf of the GFG team and Board, I would like to acknowledge and thank Rob for his significant contributions over the past four years. Under his leadership, GFG has built a very strong exploration team, consolidated a highly prospective regional land position and developed a successful targeting framework; we wish him the very best in his new endeavors.”

About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyoming, U.S. In Wyoming, the Company has partnered with Group 11 through an option and earn-in agreement to advance the Company’s Rattlesnake Hills Gold Project with a technology that could revolutionize the gold mining industry.

For further information, please contact:

Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: info@gfgresources.com
Website: www.gfgresources.com  

Stay Connected with Us
Twitter: @GFGResources 
LinkedIn: https://www.linkedin.com/company/gfgresources/ 
Facebook: https://www.facebook.com/GFGResourcesInc/

CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but are not limited to, the Company’s proposed acquisition of the Coulson Claims, GFG’s future exploration plans with respect to its property interests and the timing thereof, the prospective nature of the Coulson Claims and other property interests of GFG, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the availability of regulatory approvals, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada and the United States will continue to support the development of mining projects in Canada and the United States. In addition, the similarity or proximity of other gold deposits to the Company’s projects is not necessary indicative of the geological setting, alteration and mineralization of the Rattlesnake Hills Gold Project, the Goldarm Property, the Pen Gold Project and the Dore Gold Project.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in obtaining regulatory approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.

Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.

Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-looking statements, except as required by applicable laws.

FAQ

What prompted GFG Resources to search for a new Vice President of Exploration?

GFG Resources is looking for a new Vice President of Exploration following the resignation of Rob Mackie, who left for another opportunity.

Will GFG Resources' exploration projects be affected by the leadership change?

No, GFG Resources confirmed that ongoing drill and exploration programs will not be disrupted during the search for a new VP.

What is the focus of GFG Resources' exploration efforts?

GFG Resources focuses on gold exploration in Ontario and Wyoming, targeting district-scale gold projects in prominent mining jurisdictions.

What significant projects does GFG Resources operate?

GFG Resources operates three gold projects in Ontario and the Rattlesnake Hills Gold Project in Wyoming, which is being advanced through a partnership with Group 11.

What has been the contribution of Rob Mackie to GFG Resources?

Rob Mackie significantly contributed to building a strong exploration team and consolidating a highly prospective regional land position during his four years at GFG Resources.