VanGold Appoints Lisa Dea as CFO

Rhea-AI Summary

VanGold Mining Corp. has appointed Lisa Dea as its new Chief Financial Officer, effective April 1, 2021. Dea, a Chartered Professional Accountant, brings extensive experience from her previous roles as CFO at El Tigre Silver Corp. and Silvermex Resources Inc. The company is finalizing the acquisition of the El Cubo mine from Endeavour Silver Corp., originally agreed upon in December 2020. Anticipated to close in mid-April 2021, this acquisition will enhance the company’s operational capacity and revenue generation potential, particularly from its El Pinguico and El Cubo properties.

Positive

• Appointment of Lisa Dea as CFO, bringing valuable experience in Mexican mining.
• Expected acquisition of El Cubo mine, enhancing operational capabilities.
• Potential for revenue generation from processing mineralized material from El Cubo and El Pinguico.

Negative

• Delays in acquisition process due to Mexican government office closures.

Targets Closing El Cubo Acquisition in Mid-April

VANCOUVER, BC / ACCESSWIRE / April 1, 2021 / VanGold Mining Corp. (the "Company" or "VanGold") (TSXV:VGLD) is pleased to announce the appointment of Lisa Dea as its Chief Financial Officer ("CFO"), effective April 1, 2021.

Lisa Dea:

Lisa has previously worked in Mexican mining as CFO of El Tigre Silver Corp. and CFO of Silvermex Resources Inc. (before being acquired by First Majestic Silver Corp. for over $175m). For the last 15 years, she has been instrumental in helping several companies grow from the development stage to large-scale commercial operations. Her career as a public company CFO has included mergers and acquisitions, overseeing debt and capital market activities, directing and growing the finance functions of several TSX, TSXV, and CSE listed companies and overseeing the implementation of financial controls, processes, corporate governance and corporate financing strategies.

CEO James Anderson stated: "Lisa joined VanGold on January 1, 2021, as a Senior Financial Consultant to help us though the detailed financial aspects of the El Cubo acquisition. She has quickly demonstrated her experience, attention to detail, and work ethic and has already become a valuable part of our team. We look forward to Lisa's even greater contribution as CFO as we execute VanGold's plans for revenue generation later this year from processing mineralized material derived from both our El Pinguico and El Cubo properties."

Lisa is a Chartered Professional Accountant who earned a Bachelor of Commerce degree with a major in Accounting from the University of British Columbia. Lisa also brings 11 years of prior public accounting experience with Deloitte LLP.

The Company wishes to thank Mr. Xavier Wenzel of Fehr and Associates for providing CFO services to the company from Oct. 10, 2019 and helping to put the Company on the path to its current success.

Closing the El Cubo Acquisition:

On March 16, 2021 the Company signed a definitive asset purchase agreement with Endeavour Silver Corp. ("Endeavour") to acquire the El Cubo mine and mill complex, finalizing the binding letter agreement entered into by VanGold and Endeavour on December 17, 2020. Because of recent delays with Mexican government office closures due to the Easter holiday celebrations, VanGold now anticipates concluding the purchase of the El Cubo Complex from Endeavour in mid-April 2021, with the signing of customary closing documents in both Mexico and Canada.

About VanGold Mining Corp.:

VanGold Mining is an exploration and development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company's El Pinguico project is a significant past producer of both silver and gold located just 7 kilometers south of the city. Upon closing of the El Cubo acquisition, the Company will focus on the refurbishment of the El Cubo mill, and swift commencement of production from the combined El Cubo and El Pinguico operation, as well as delineating additional silver and gold resources through underground and surface drilling on its projects located in this 480 year old mining camp.

Hernan Dorado Smith, a director of VanGold and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

"James Anderson"
Chairman and CEO

For further information regarding VanGold Mining Corp, please contact:

James Anderson, Director, +1 (778) 989-5346
Email: james@vangoldmining.com
Continue to watch our progress at: www.vangoldmining.com

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.

Forward-Looking Statements

This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the successful acquisition of El Cubo on the terms and conditions contemplated, the proposed use of proceeds from VanGold's recently completed private placement financing, the ability of VanGold to successfully re-start the El Cubo mill and supply sufficient mineralized material from El Cubo and El Pinguico for processing through the El Cubo mill at projected rates, the ability to generate positive cash flow from the El Cubo mill as contemplated or at all, the exploration and development potential of El Cubo and El Pinguico and the potential existence of additional mineral resources thereon. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and development activities, unanticipated geological formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. There are no assurances that VanGold will successfully complete the acquisition of El Cubo on the terms contemplated or at all or, if acquired, that the Company will be able to re-start the El Cubo mill to process mineralized materials in the amounts and at the costs anticipated. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the Company's operations, supply chains, ability to access El Pinguico or El Cubo or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.

VANGOLD MINING CORP.
PH: +1(778) 989-5346 E: info@vangoldmining.com W: vangoldmining.com
CA: Suite 2820 - 200 Granville Street, Vancouver B.C. V6C 1S4
MX: Carretera - Guanajuato - Silao km 5.5, Int 4, Col. Marfil CP36250, Guanajuato, Gto., Mexico

SOURCE: VanGold Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/638533/VanGold-Appoints-Lisa-Dea-as-CFO

FAQ

Who has been appointed as the CFO of VanGold Mining?

Lisa Dea has been appointed as the CFO of VanGold Mining, effective April 1, 2021.

What is the significance of the El Cubo acquisition for VanGold Mining?

The El Cubo acquisition is significant as it enhances operational capacity and revenue generation potential for VanGold.

When is VanGold Mining expected to finalize the El Cubo acquisition?

VanGold Mining expects to finalize the El Cubo acquisition in mid-April 2021.

What is Lisa Dea's background prior to becoming CFO of VanGold Mining?

Lisa Dea has extensive experience in mining as CFO of El Tigre Silver Corp. and Silvermex Resources Inc.

What challenges has VanGold encountered regarding the El Cubo acquisition?

VanGold has faced delays in the acquisition process due to Mexican government office closures.