Norsemont Appoints Dr. Adrian King to the Board of Directors

Rhea-AI Summary

Norsemont Mining Inc. (OTCQB: NRRSF) has appointed Dr. Adrian King to its Board of Directors. Dr. King, a veteran mining executive with over 35 years at Teck Resources, brings extensive global exploration experience. His insight into Chile's mining landscape will support Norsemont's exploration efforts at their Choquelimpie gold-silver project, which boasts over 1,700 drill holes and significant infrastructure. In connection with this appointment, the company has issued 440,000 restricted share units and 100,000 stock options, enhancing its talent pool.

Positive

• Dr. Adrian King's appointment adds significant experience and expertise to the Board.
• King's knowledge of Chilean mining will be beneficial for exploration at Choquelimpie.
• The company issued stock options and RSUs, incentivizing management and key personnel.

Negative

• None.

VANCOUVER, British Columbia, March 08, 2021 (GLOBE NEWSWIRE) -- Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“Norsemont” or the “Company”) is pleased to announce the appointment of Dr. Adrian King to the Board of Directors.  

Mr. King is a seasoned mining executive who joined Teck Resources Limited more than thirty-five years ago. His global experience in exploration and exploration management included extended assignments in London, Brussels, Santiago, Spokane and Vancouver where he now resides. Adrian has held a number of positions with Teck including managing the Chilean and Argentinian exploration offices; Chief Geologist at Red Dog where he was involved in the drill definition of the Anarraaq deposit and the first holes drilled into the giant Aktigiruq zinc system; General Manager of Europe, Africa and Asia, and head of the Gold Group in 2010-2015. He was appointed Head of Global Exploration at Teck in 2016, overseeing all exploration projects world-wide. Roles have covered projects of all stages from generative through to evaluations, commercial and resource-reserve definition (greenfield and brownfield). Mr. King has authored and co-authored several scientific papers and was a member of a number of discovery teams including Black Angel Plateau, Greenland; Aktigiruq, Red Dog; Cerattepe, Agi Dagi, Kirazli, Halilaga, Demir and TV Tower in Turkey.

Adrian holds a BSc and PhD from the Royal School of Mines, Imperial College, London, UK.

Marc Levy, CEO of Norsemont said, “We continue to build out a world class mining team, we welcome someone of Dr. King’s caliber to the board of directors. His experience and knowledge of Chile will be invaluable during our exploration campaigns to advance Choquelimpie.”

Pursuant to the Company’s Omnibus Equity Incentive Plan, it has issued stock options and restricted share units (“RSUs”) to directors, officers, employees and consultants. 440,000 RSUs were awarded and 100,000 stock options were granted to purchase 100,000 common shares exercisable at a price of $0.56 per share for a period of five years. Both options and RSUs vest over a period of two years.

About Norsemont Mining Inc.

Norsemont comprises experienced natural resource professionals focused on growing shareholder value and fast tracking its flagship project through to bankable feasibility. Norsemont Mining owns a 100-per-cent interest in the Choquelimpie gold-silver project in northern Chile, a previously permitted gold and silver mine. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure.

On behalf of the Board of Directors,
NORSEMONT MINING INC.

Marc Levy
CEO & Chairman

For more information, please contact the Company at:
Telephone: (604) 669-9788; Facsimile: (604) 669-9768

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 

FAQ

Who is Dr. Adrian King and what is his background in mining?

Dr. Adrian King is a seasoned mining executive with over 35 years of experience at Teck Resources, having held various leadership roles in global exploration and management.

What impact will Dr. King's appointment have on Norsemont Mining?

Dr. King's appointment is expected to enhance Norsemont's exploration efforts at the Choquelimpie project due to his extensive experience and knowledge of the Chilean mining sector.

What stock options and RSUs were issued in connection with Dr. King's appointment?

Norsemont issued 440,000 restricted share units and 100,000 stock options to incentivize directors, officers, and employees, with options exercisable at $0.56 per share.

What is the Choquelimpie project?

The Choquelimpie project is a gold-silver mining site in northern Chile, owned 100% by Norsemont, with substantial existing infrastructure and over 1,700 drill holes.