ST. JAMES GOLD CORP. ANNOUNCES APPOINTMENT OF MR. JIANG (JAY) YU AS NEW CHAIRMAN, PRESIDENT AND DIRECTOR AND PROPOSED $200,000 STRATEGIC INVESTMENT

Rhea-AI Summary

St. James Gold Corp. has appointed Mr. Jiang (Jay) Yu as the Chairman and President, effective immediately, replacing Mr. George Drazenovic as director. Yu brings over 16 years of capital markets experience from Wall Street, including roles at Deutsche Bank. He plans to invest $200,000 in the company, indicating confidence in its gold assets. The company holds significant gold claims in Newfoundland and Yukon. The board remains mostly independent despite Yu's dual roles.

Positive

• Appointment of Jay Yu as Chairman and President could provide fresh leadership and strategic direction.
• Yu's planned $200,000 investment demonstrates confidence in the company's growth and gold assets.
• Company possesses extensive gold claims in Newfoundland and Yukon, positioning it for potential growth.

Negative

• Jay Yu's dual roles may raise concerns about governance and oversight.
• Yu is not considered independent under securities laws, which might impact board dynamics.

Vancouver, British Columbia, April 08, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that effective immediately, Mr. Jiang (Jay) Yu has been appointed as a director and Chairman of the board of the Company. Mr. Yu has replaced Mr. George Drazenovic, who has resigned as a director but will continue to act in his current capacity as the Chief Executive Officer of the Company. The Company is also pleased to announce that effective immediately, Mr. Yu has been appointed as President of the Company.

Mr. Yu is a serial entrepreneur with over 16 years of capital markets experience on Wall Street. Mr. Yu’s experience includes advising both private and public company executives and providing corporate advisory services with respect to equity financings, mergers and acquisitions, structured financings, initial public offerings and listings on recognized stock exchanges in North America. Mr. Yu previously worked as an analyst as part of the Corporate & Investment Banking Division at Deutsche Bank on Wall Street in New York City. Mr. Yu is an active philanthropist and the founder of a non-profit organization that provides access to sports and education to underprivileged youth in New York City. In 2021, Mr. Yu was a recipient of The Outstanding 50 Asian Americans in Business award. Mr. Yu holds a Bachelor of Arts (Psychology) degree from the City College of New York and has also completed core courses at the Borough of Manhattan Community College and Columbia University in the City of New York.

As stated by Jay Jiang Yu, Chairman of the Board & President of St. James Gold, “I am deeply grateful for the opportunity to take a leading role in an emerging growth resource and precious metals company. The momentum behind the growing spot gold price is a bullish sign for junior miners and exploration companies and I believe that the Company’s current gold assets are well positioned for tremendous future growth.”

Mr. Yu will not be considered independent under applicable securities laws given his appointment as President, however, the Board remains comprised of a majority of independent directors. Mr. Yu will also serve on the audit committee in place of Mr. Drazenovic. The audit committee remains comprised of three directors, two of which are independent.

Furthermore, Mr. Yu intends to make a $200,000 strategic capital investment in the Company through a private placement at prevailing market prices in the coming weeks. The investment serves to demonstrate Mr. Yu’s confidence in the long-term growth of the Company and the value of its gold assets.

Jay Jiang Yu, Chairman & President of St. James Gold further states that, “It is also with great optimism that I intend to invest $200,000 into the company as I believe there is a significant value opportunity here and the current market capitalization does not reflect the real intrinsic value of the Company and its numerous gold assets. I believe my investment also underscores my unwavering commitment, belief in the senior level management and long-term outlook in the gold mining sector.”

About St James Gold Corp.

St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading symbol “LORD”, in the U.S. Market listed on OTCQB under “LRDJF” and on the Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well-delineated geological theories; integrating all available geological, geochemical, and geophysical datasets; and financing efficient exploration programs. The Company currently holds: (i) 100-per-cent stake in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.’s Queensway North project; and (ii) a 100-per-cent stake in 9 claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 1,730 acres, in central Newfoundland located adjacent to Marathon Gold’s Valentine Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon Territory, Canada.

For more corporate information please visit: http://stjamesgold.com/

St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements in this news release relate to, among other things: the proposed $200,000 private placement, the potential growth of the Company, and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results.

New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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.

Attachment

• St. James Gold Corp.

FAQ

Who is the new Chairman of St. James Gold Corp as of April 2022?

Mr. Jiang (Jay) Yu has been appointed as the new Chairman and President of St. James Gold Corp.

What significant investment is Jay Yu planning to make in St. James Gold Corp?

Jay Yu intends to invest $200,000 in the company through a private placement.

How does Jay Yu's appointment affect St. James Gold Corp's board structure?

Despite his appointment, the board remains mostly independent, with Yu not considered independent due to his dual role.

What experience does Jay Yu bring to St. James Gold Corp?

Jay Yu has over 16 years of capital markets experience, including significant roles in corporate advisory and investment banking.

What are St. James Gold Corp's key assets?

The company holds multiple gold claims in Newfoundland and Yukon, positioning it for future exploration and development.