Pershing Resources Appoints Neil D. Novak, (P. Geo.) as Director of Exploration

Rhea-AI Summary

Pershing Resources Company (OTC PINK:PSGR) announced the appointment of Neil D. Novak, P Geo., as its new Director of Exploration. Novak, who joined the company in 2016, will oversee exploration initiatives in Arizona and Nevada and report to the Board of Directors. With over 40 years of global experience in the junior resource sector, he brings a wealth of expertise, having held senior positions in multiple companies. The company focuses on its 100% owned New Enterprise Project, located near Kingman, Arizona, which lies within a significant copper mining trend.

Positive

• Appointment of Neil D. Novak as Director of Exploration may enhance exploration strategy.
• Novak's extensive experience in the resource sector could lead to successful project advancements.

Negative

• Transition from independent director to officer role could raise concerns about governance continuity.

RENO, NV / ACCESSWIRE / April 25, 2022 / Pershing Resources Company Inc., (the "Company" or "Pershing Resources") (OTC PINK:PSGR), today announced that Neil D. Novak, P Geo. has been named "Director of Exploration" for the Company. Mr. Novak initially joined the Company' as an Advisor in 2016 and was invited to join the Board in March of 2018 as an Independent Director. Mr. Novak will now serve as an Officer of the Company and will continue to serve on the Company's Board of Directors, but not as an independent director.

As Director of Exploration, Mr. Novak will oversee and co-manage exploration for the Company's current portfolio of exploration projects in Arizona and Nevada. In the Director of Exploration role, Mr. Novak will be responsible for the design and advancement of exploration programs and will advise the Company on any new acquisitions. Mr. Novak will report to the Board of Directors and will be working closely with Ed Walker Ph.D., P.Geo., the Company's independent geological consultant along with the rest of Pershing's Technical Team as Pershing advances their 100% owned New Enterprise Project near Kingman, Arizona.

Mr. Novak is a senior executive and experienced Professional Geologist, with over four decades of international experience in the junior resource sector having worked on projects in North and South America, Europe, Africa and Asia. He has provided exploration management expertise in the role of senior officer for numerous junior resource companies, mostly in Canada. Mr. Novak is a professional geologist and is also President and Chief Executive Officer and Director of BWR Exploration Inc., (TSX.V: BWR), a Toronto based mineral exploration company with three projects in Canada. BWR's main exploration focus is a gold project in northeast Manitoba, along with two other base metal projects in Ontario and Quebec.

Prior to BWR Exploration Inc., Mr. Novak served as President and CEO of Spider Resources Inc. (2005-2010) until Spider was taken over in August 2010 for an all-cash offer of $125 million to the shareholders by a division of Cleveland Cliffs, (CLF), Spider was then privatized in 2011. Prior to the takeover by Cliffs, Mr. Novak was acknowledged by the global mining community for his key role (along with four others) in the discovery of the Ring of Fire exploration project in Northern Ontario, receiving the prestigious Bill Dennis "Prospector of the Year" Award by the Prospector & Developers Association of Canada, (PDAC), in 2010. After working with Cliffs for 6 months, Mr. Novak, through a private company, selected and acquired one of the Spider exploration projects from Cliffs, and then proceeded to acquire several other projects in Canada. Next, he successfully completed BWR's Initial Public Offering in April 2014.

Mr. Novak is also a Director of Cadillac Ventures Inc., (CDC). Mr. Novak has been a director for several other junior resource companies during his career, and he continues to help transition private companies into public companies. He is also President of a family-owned consulting business, Nominex Ltd. Mr. Novak is a Professional Geoscientist (P.Geo.) registered with the Professional Geoscientists of Ontario ("PGO") and is a Fellow of the Geological Association of Canada (F.G.A.C.).

Mr. Novak's profile can be viewed on Pershing Resources Company's corporate website at Management Team :: Pershing Resources Company, Inc. (PSGR) (pershingpm.com)

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About Pershing Resources Company

Pershing Resources Company Inc. is a precious and base metals exploration and development company with projects located exclusively in North America. The Company is based in Reno, Nevada and is currently focused on the development of its 100% owned New Enterprise Project. The New Enterprise Project is located near Kingman, Arizona and lies within a regional porphyry copper trend known as the Laramide Arc from which Arizona produces 65% of the copper mined in the US annually. The New Enterprise lies on the north-western end of the Laramide Arc and is situated twenty miles southeast of the Mineral Park Mine and forty-five miles northwest of the Baghdad Mine, both of which are porphyry Cu-Mo mines. The Company's other assets are comprised of exploration properties located in Arizona and Nevada. Pershing Resources is committed to environmentally responsible mining practices.

Forward-Looking Statements

The information contained in this press release, as well as the information on the Company's website, is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein, and, on the Company's, website constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment, and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "hope," "intend," "may," "might," "plan," "possibility," "potential," "predict," "project," "should,'' "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, and/or achievements of the Company or of the mining industry, in general, to be materially different from future results, performance, and/or achievements expressed or implied by those forward-looking statements. 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. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver, copper, and other precious and base metals commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, uncertainty of meeting anticipated program milestones for the Company's mineral projects and the risks associated with the pandemic caused by the novel coronavirus known as COVID-19.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise, or correct any of the forward-looking statements, whether because of new information, future events, or otherwise.

CONTACT:

Pershing Resources Company, Inc.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Phone: 775-398-3124
Email: j.adams@pershingpm.com

SOURCE: Pershing Resources Company, Inc.

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FAQ

Who has been appointed as the Director of Exploration for PSGR?

Neil D. Novak has been appointed as the Director of Exploration for Pershing Resources Company (PSGR).

What experience does Neil D. Novak bring to PSGR?

Neil D. Novak has over 40 years of experience in the junior resource sector, having worked internationally and held senior positions in various companies.

What will Neil D. Novak's responsibilities be at PSGR?

As Director of Exploration, Novak will oversee exploration programs and advise the company on new acquisitions.

What is the focus of Pershing Resources Company?

Pershing Resources is focused on the development of its 100% owned New Enterprise Project located near Kingman, Arizona.