Lavras Gold Corp. Announces Leadership Transition Hemdat Sawh Appointed Interim President & CEO - Search Underway to Identify Successor President & CEO
Lavras Gold (OTCQX:LGCFF, TSXV:LGC) announced on October 31, 2025 that Hemdat Sawh has been appointed Interim President & CEO effective immediately following the departure of Michael Durose, who served as President, CEO and director since April 2022. Mr. Sawh will remain Chief Financial Officer while serving as interim CEO.
The Board's Nominating and Governance Committee will search for a permanent president and CEO. Board members Jonathan Hill and Mike Mutchler will serve as Interim Vice President of Exploration and Interim Chief Operating Officer to support a leadership transition focused on moving the LDS Project from advanced exploration toward development, including environmental studies, permitting, in-fill drilling, an updated technical report and a Preliminary Economic Assessment (PEA).
Lavras Gold (OTCQX:LGCFF, TSXV:LGC) ha annunciato il 31 ottobre 2025 che Hemdat Sawh è stato nominato Presidente e CEO ad interim con effetto immediato, a seguito della partenza di Michael Durose, che ha ricoperto la carica di Presidente, CEO e direttore dall'aprile 2022. Il signor Sawh continuerà a ricoprire anche la carica di Direttore Finanziario pur svolgendo il ruolo di CEO ad interim.
Il Comitato Nominating and Governance del Consiglio cercherà un presidente e CEO permanente. I membri del Consiglio Jonathan Hill e Mike Mutchler serviranno come Vicepresidente ad interim per l'Esplorazione e Amministratore Delegato operativo ad interim per supportare una transizione di leadership volta a spostare il progetto LDS Project dall'esplorazione avanzata verso lo sviluppo, inclusi studi ambientali, permessi, trivellazioni in-fill, un rapporto tecnico aggiornato e una Valutazione Economica Preliminare (PEA).
Lavras Gold (OTCQX:LGCFF, TSXV:LGC) anunció el 31 de octubre de 2025 que Hemdat Sawh ha sido designado Presidente y CEO interino con efecto inmediato tras la salida de Michael Durose, quien se desempeñó como presidente, CEO y director desde abril de 2022. El Sr. Sawh seguirá siendo Director Financiero mientras ejerce como CEO interino.
El Comité de Nominación y Gobernanza de la Junta buscará un presidente y CEO permanentes. Los miembros de la junta Jonathan Hill y Mike Mutchler servirán como Vicepresidente de Exploración interino y Director de Operaciones interino para apoyar una transición de liderazgo centrada en mover el Proyecto LDS desde la exploración avanzada hacia el desarrollo, incluyendo estudios ambientales, permisos, perforación de relleno, un informe técnico actualizado y una Evaluación Económica Preliminar (PEA).
Lavras Gold (OTCQX:LGCFF, TSXV:LGC)가 2025년 10월 31일자로 Hemdat Sawh를 임시 사장 겸 최고경영자(CEO)로 임명했으며, 2022년 4월부터 사장, CEO 및 이사로 재직해 온 Michael Durose의 퇴임에 즉시 효력을 발합니다. Sawh 씨는 임시 CEO 재임 중에도 최고재무책임자(CFO)로 남게 됩니다.
이사회 지명 및 거버넌스 위원회는 상임 사장 및 CEO를 선출하기 위해 검색을 진행할 것입니다. 이사회 멤버인 Jonathan Hill과 Mike Mutchler는 리더십 전환을 지원하기 위해 탐사 부사장 임시직과 임시 운영 책임자로 활동하여 LDS Project를 고급 탐사 단계에서 개발 단계로 이동시키는 데 초점을 맞춘 환경 연구, 허가, 보강 시추, 최신 기술 보고서 및 예비 경제성 평가(PEA)를 포함한 계획을 지원할 것입니다.
Lavras Gold (OTCQX:LGCFF, TSXV:LGC) a annoncé le 31 octobre 2025 que Hemdat Sawh a été nommé Président et PDG par intérim avec effet immédiat suite au départ de Michael Durose, qui a occupé les fonctions de président, PDG et administrateur depuis avril 2022. M. Sawh restera également directeur financier tout en exerçant le rôle de PDG intérimaire.
Le comité de nomination et de gouvernance du conseil examinera la nomination d'un président et PDG permanents. Les membres du conseil Jonathan Hill et Mike Mutchler assureront les fonctions de Vice-président intérimaire de l'exploration et de Directeur des opérations intérimaire afin de soutenir une transition de leadership axée sur le passage du projet LDS de l'exploration avancée au développement, y compris les études environnementales, l'obtention des permis, le forage d'infill, un rapport technique mis à jour et une Évaluation économique préliminaire (PEA).
Lavras Gold (OTCQX:LGCFF, TSXV:LGC) gab am 31. Oktober 2025 bekannt, dass Hemdat Sawh zum interimistischen Präsidenten & CEO ernannt wurde, mit sofortiger Wirkung nach dem Ausscheiden von Michael Durose, der seit April 2022 als Präsident, CEO und Direktor tätig war. Herr Sawh wird während seiner Rolle als Interim-CEO auch weiterhin Chief Financial Officer bleiben.
Der Nominating and Governance Committee des Vorstands wird nach einem festen Präsidenten und CEO suchen. Die Vorstandsmitglieder Jonathan Hill und Mike Mutchler werden als Interim-Vizepräsident für Exploration und Interim Chief Operating Officer fungieren, um eine Führungsübergabe zu unterstützen, die sich darauf konzentriert, das LDS Project von fortgeschrittener Exploration zur Entwicklung zu bewegen, einschließlich Umweltstudien, Genehmigungen, Infill-Bohrungen, einem aktualisierten technischen Bericht und einer Preliminary Economic Assessment (PEA).
Lavras Gold (OTCQX:LGCFF, TSXV:LGC) أعلنت في 31 أكتوبر 2025 أن Hemdat Sawh تم تعيينه كـ رئيس تنفيذي مؤقت ورئيس مجلس الإدارة اعتباراً من الآن بعد رحيل Michael Durose، الذي شغل منصب رئيس مجلس الإدارة والمدير التنفيذي وعضو مجلس الإدارة منذ أبريل 2022. سيظل السيد Sawh مديراً مالياً تنفيذياً بينما يشغل منصب الرئيس التنفيذي المؤقت.
سيجري لجنة الترشيح والحوكمة في المجلس بحثاً عن رئيس تنفيذي دائم. سيعمل أعضاء المجلس Jonathan Hill وMike Mutchler كـ نائب رئيس الاستكشاف المؤقت و رئيس العمليات المؤقت لدعم انتقال قيادي يركز على نقل LDS Project من الاستكشاف المتقدم إلى التطوير، بما في ذلك الدراسات البيئية، والتصاريح، وحفر التغطية، وتحديث تقرير فني وتقييم اقتصادي ابتدائي (PEA).
- Interim CEO Hemdat Sawh appointed effective October 31, 2025
- Hemdat Sawh will retain CFO duties while serving as interim CEO
- Interim roles assigned to Jonathan Hill and Mike Mutchler for continuity
- Board initiated search for permanent President and CEO
- Clear plan to advance LDS Project toward a PEA
- Departure of President & CEO Michael Durose after service since April 2022
- Interim CEO holding dual CFO responsibilities may concentrate executive workload
- Leadership transition creates temporary vacancy until permanent CEO is identified
Toronto, Ontario--(Newsfile Corp. - October 31, 2025) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") today announced that the Company's Board of Directors (the "Board") has appointed Hemdat Sawh as Interim President and Chief Executive Officer (CEO), effective immediately, following the departure of Michael Durose as President, Chief Executive Officer (CEO) and Director of the Company. Michael Durose is stepping down after serving in these roles since April 2022.
Hemdat Sawh is currently Lavras Gold's Chief Financial Officer (CFO) and will remain in this position while carrying out his new role. He is a seasoned mining finance executive and has served as Lavras Gold's CFO since its inception. Previously, Mr. Sawh was the CFO of Amarillo Gold Corporation ("Amarillo") from November 2017 to its acquisition by Hochschild Mining PLC in April 2022. The Nominating and Governance Committee of the Board, chaired by David Birkett, will embark on a process to identify a permanent President and CEO.
In his role as Interim President and CEO, Mr. Sawh will be assisted by Board members, Jonathan Hill and Mike Mutchler who will fill the roles of Interim Vice President of Exploration and Interim Chief Operating Officer, respectively. Mr. Hill, who is based in Brazil, is an economic geologist and specialist consultant with over 35 years of experience in exploration, project development, and mining operations around the world. Mr. Hill, who was formerly V.P. Geology and Exploration at Jaguar Mining Inc., is a non-executive director of Royal Road Minerals, Avanti Gold Corp., Lode Gold and Spark Energy Minerals. Mr. Mutchler is a fifth-generation miner, and a corporate director at Orvana Minerals Corp. and a mining consultant. Previously, he served as President, CEO, and a Director of Amarillo from January 2018 to its acquisition in 2022 and held various prior senior management and consulting roles in the mining industry. The restructured management team intends to focus on transitioning the Company's LDS Project from its current advanced exploration stage to the development stage. The team will continue to de-risk the project via environmental studies, permitting, and in-fill drilling which will create an updated technical report and resource estimate. These efforts will form the basis of a Preliminary Economic Assessment (PEA) to evaluate the potential economic viability of the Company's district scale LDS Project assets.
Rowland Uloth, Chairman, Chairman of the Board, said: "On behalf of the Board, I want to thank Mike for his leadership of Lavras Gold. During his tenure, Mike strengthened our Company and helped advance Lavras Gold's LDS Project to its current pre-development stage. As a result, the Company is well positioned for the next phase of growth and value creation for all shareholders."
Jonathan Hill, Director and Interim Vice President of Exploration for Lavras Gold Corp., is the "Qualified Person" as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical information contained in this release.
About Lavras Gold Corp.
Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) is a Canadian exploration company focused on realizing the potential of its LDS Project situated in a highly prospective gold district in southern Brazil. The LDS Project is located near the town of Lavras do Sul in Rio Grande do Sul, in Rio Grande do Sul State of Brazil and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the LDS Project properties, which span more than 23,000 hectares. Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Twitter, and YouTube.
On Behalf of Lavras Gold Corp.
"Hemdat Sawh"
Interim President & CEO
For further information, please visit the Lavras Gold Corp. website at www.lavrasgold.com, or contact:
Hemdat Sawh, President & CEO
or
Naomi Nemeth, VP Investor Relations
Phone: +1-289-624-1343 or +1-289-624-1377
Email: investor@lavrasgold.com
Website: www.lavrasgold.com
X (Twitter): @LavrasGold
LinkedIn: https://www.linkedin.com/company/lavras-gold-corp
Disclaimer: Neither 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.
Forward-looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward-looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties, including regarding the Company's plans to hire a successor President and CEO and related matters, and regarding plans to carry out work, complete a technical report and a PEA. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272685
FAQ
Who is the interim President and CEO of Lavras Gold (LGCFF) as of October 31, 2025?
Why did Lavras Gold (LGCFF) change leadership on October 31, 2025?
What interim management roles did Lavras Gold (LGCFF) name to support operations?
How will the management change affect the LDS Project timeline at Lavras Gold (LGCFF)?
Is Lavras Gold (LGCFF) searching for a permanent President and CEO after the October 31, 2025 change?
