Tectonic Announces the Appointment of Peter Kleespies as Vice President, Exploration

Rhea-AI Summary

Tectonic Metals Inc. has appointed veteran geologist Peter Kleespies as Vice President of Exploration, effective immediately. With over 30 years of experience, Kleespies has a strong background in mineral exploration and resource delineation across multiple continents. He succeeds Eric Buitenhuis, who played a significant role in the company's growth. Tectonic granted Kleespies 300,000 stock options as part of his employment agreement, which will vest over three years.

Positive

• Appointment of Peter Kleespies adds significant geological expertise to the team.
• Kleespies has a successful track record in discovering and advancing mineral deposits.
• Stock options align interests of new VP with shareholder value through performance incentives.

Negative

• Transition may cause temporary disruption as new leadership takes over exploration strategy.
• Eric Buitenhuis's departure may lead to a loss of continuity in ongoing projects.

VANCOUVER, BC / ACCESSWIRE / March 14, 2022 / Tectonic Metals Inc. (TECT:TSX-V; TETOF:OTCQB; T15B:FSE) (the "Company" or "Tectonic") is excited to announce the appointment of veteran geologist, Peter Kleespies, M.Sc., as Vice President, Exploration ("VPX") effective immediately. Peter has over 30 years of combined corporate and mineral exploration experience resulting in numerous discoveries and the delineation of multi-million-ounce mineral deposits across several continents, North and South America, Australia, and Africa.

Although Peter has worked internationally for junior and major mining companies, such as BHP, the bulk of Peter's career was spent in the Canadian arctic where he designed, oversaw, and successfully executed multi-million-dollar exploration and resource delineation programs at such renowned greenstone belts as High Lake, Hope Bay, and Committee Bay. His expertise ranges from conceptual project generation, project evaluation, and grassroots exploration to large-scale surface and underground drill programs, deposit modeling, and resource estimation. By applying sound technical principles and his vast experience, Peter can integrate complex geological, geochemical, and geophysical datasets in the search for, and delineation of, economically viable mineral deposits.

Tony Reda, President & CEO of Tectonic commented, "I am ecstatic to welcome Peter to the Tectonic Team as he brings a wealth of geological knowledge and proven experience in not only discovering mineral deposits but also understanding and advancing them systematically through to the Feasibility Stage. Peter is someone who I have known since 2005 and have the utmost respect for. Aside from being one of the smartest geologists I know, he is a person of integrity, transparency, and honesty with strong morals and ethics. He is accountable and says it how it is, which is always a welcome breath of fresh air in our industry. I look forward to working with him as we continue on our mission of finding the next mine."

With his appointment, Peter succeeds Eric Buitenhuis as Vice President, Exploration. Eric has played an important role in Tectonic's growth, and we are grateful for his efforts on behalf of the Company. We wish Eric every success in his future endeavours.

Stock Option Grant

As part of his employment agreement (the "Agreement"), the Company granted Peter Kleespies 300,000 stock options (the "Options"). The Options shall have an exercise price set at a 35% premium to the share price on the date of the grant of the Options. The Options shall vest in three equal installments with 100,000 Options vesting on the first anniversary of the Agreement, and an additional 100,000 Options vesting on the two subsequent anniversary dates thereafter. The vesting and exercise of Options shall otherwise be governed by the terms and conditions of Tectonic's stock option plan.

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On behalf of Tectonic Metals Inc.,

Tony Reda

President and Chief Executive Officer

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact Tony Reda, President & CEO of Tectonic, or Bill Stormont, Investor Relations, at toll-free 1.888.685.8558 or by email at info@tectonicmetals.com

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Cautionary Note Regarding Forward-Looking Statements and Historical Information

Certain information in this news release constitutes forward-looking information and statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions and include, but are not limited to, statements with respect to the potential for mineralization at Tectonic's projects, planned exploration programs, and results of any future exploration activities. The Company makes no representation or warranty regarding the accuracy or completeness of any historical data from prior exploration undertaken by others other than the company and has not taken any steps to verify, the adequacy, accuracy or completeness of the information provided herein and, under no circumstances, will be liable for any inaccuracies or omissions in any such information or data, any delays or errors in the transmission thereof, or any loss or direct, indirect, incidental, special or consequential damages caused by reliance on this information or the risks arising from the stock market.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental and other approvals and financing on time, obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Tectonic, and there is no assurance they will prove to be correct.

Although Tectonic considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements necessarily involve known and unknown risks, including, without limitation: the Company's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Although Tectonic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Tectonic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Tectonic Metals Inc.

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FAQ

Who is Peter Kleespies and what is his role at Tectonic Metals?

Peter Kleespies is the newly appointed Vice President of Exploration at Tectonic Metals, bringing over 30 years of experience in mineral exploration.

What are the key qualifications of Peter Kleespies?

Peter Kleespies has extensive experience in corporate and mineral exploration, with numerous discoveries and successful exploration programs globally.

What stock options were granted to Peter Kleespies?

Peter Kleespies was granted 300,000 stock options, with an exercise price set at a 35% premium to the share price at the date of grant.

Who did Peter Kleespies succeed at Tectonic Metals?

Peter Kleespies succeeds Eric Buitenhuis as the Vice President of Exploration at Tectonic Metals.

Why is the appointment of Peter Kleespies significant for Tectonic Metals?

His appointment is significant due to his proven expertise in advancing mineral deposits to the Feasibility Stage, which may enhance Tectonic's exploration efforts.