Banco de Chile Director, to Join the Board of Vortex Metals

Rhea-AI Summary

Vortex Metals has appointed Banco de Chile Director, Mr. Paul Fürst, to its Board of Directors. Mr. Fürst brings over 18 years of experience in the mining industry, with a strong background in mining services, drilling, and project management. His extensive business credentials include being a partner and board member of Ventana Minerals and Terra Services. Additionally, he holds significant roles in Latin America's retail sector, notably with Mall Plaza and Grupo Plaza SA. Vortex Metals granted 1.625 million incentive stock options at $0.10 per share and one million restricted share units (RSUs) to its directors and officers. This strategic appointment and the equity incentives signify Vortex Metals' commitment to advancing its mining projects in Chile and Mexico.

Positive

• Appointment of experienced director Paul Fürst to the Board of Vortex Metals.
• Paul Fürst's 18 years of mining industry experience.
• Granting of 1.625 million incentive stock options at $0.10 per share.
• Granting of one million restricted share units (RSUs) to directors and officers.

Negative

• None.

VANCOUVER, BC, June 27, 2024 /PRNewswire/ - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) (" Vortex" or the" Company ") is pleased to announce the appointment of Banco de Chile Director and distinguished businessman Mr. Paul Fürst to its Board of Directors. Mr. Fürst is also a principal in Windows Minerals, Vortex Metals Optionor on the Chilean Illapel Copper Project.

"We are delighted to welcome Paul to the board of Vortex Metals. This appointment marks a significant event for the Company, as Paul's impressive credentials and extensive experience in the commercial real estate, banking and mining sectors will bring valuable insights and leadership to Vortex Metals", commented, Vikas Ranjan, Co-founder, president and CEO of Vortex Metals.

Mr. Fürst stated, "I am very pleased to join the board of Vortex Metals. We believe that Illapel Project, together with projects in Mexico, represent a great complement and an important opportunity for the Company. The Illapel project is adjacent to and extending from our existing mining operation in a well-established mining region. I am excited to join the board of Vortex Metals and look forward to working closing with its management team to develop a world class copper and gold asset".

Mr. Fürst is also a partner and board member of Banco de Chile, listed on the NYSE since 2019. Banco de Chile was established in 1893 and with a market value of approximately US$ 12 Billion, it is the largest private bank in Chile. The bank is headquartered in Santiago, Chile with network of over 400 branches and 1900 plus ATMs spread across the country.

Mr. Fürst also has significant interest and experience in the mining industry. Over his 18 years in the mining sector, he has developed specializations in mining services, drilling, and ventilation chimneys. He is a partner and director of Ventana Minerals, a mining contractual company with interests in copper and gold properties in northern Chile and a mineral processing plant in Rengo. He also is a partner and director since 2005 of the mining drilling and hydrogeology company Terra Services.

Mr. Fürst has been a Partner and Board Member of Mall Plaza since 1997, the largest shopping mall development and management company in Latin America operating in Chile, Peru, and Colombia with a market value of approximately US $3 Billion, annual sales from malls under operations of US $4,500 million with 285.2 million visitors. From 1998 to date, he has been a director of Grupo Plaza SA, whose Audit Committee he served for two years, until April 2019. His role in the early development of the first shopping mall in Chile, Parque Arauco, from 1986 to 1997, further highlights his significant contributions to the industry.

Mr. Fürst is a commercial engineer from the Universidad del Desarrollo and also completed the Senior Management Program (PADE) at the ESE Business School of the Universidad de los Andes.

The addition of Paul Fürst to the Board of Directors is a significant development for the Vortex Metals team, reflecting the Company's commitment to excellence and growth in the mining sector. Mr. Fürst's wealth of experience and strategic business acumen will be invaluable as Vortex Metals continues to advance its diversified portfolio of exploration projects in Chile and Mexico.

The Company also announces that it has granted a total of 1.625 million incentive stock options to purchase common shares of the company to certain directors, officers, advisors and consultants of the company. Each option is exercisable into one common share at an exercise price of $0.10 per common share for a period ranging from five to ten years from the date of grant. The company has also granted one million restricted share units (RSUs) to certain directors and officers of the company. Both stock options and restricted share units vest quarterly over a period of one year.

About Vortex Metals Inc.

Vortex Metals Inc. is a copper-focused exploration and development company with a diversified portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to 80% interest in the brownfield Illapel Copper Project in Chile and through its Mexican subsidiary Empresa Minera Acagold, S.A. de C.V., it owns 100% interest in two drill-ready high-potential copper-gold volcanogenic massive sulfide (VMS) properties, Riqueza Marina and Zaachila in Oaxaca, Mexico. The company emphasizes responsible exploration, community engagement, and environmental stewardship to meet the rising global demand for copper sustainably.

Forward-Looking Statements

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including permitting approvals, any private placement financings, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as several factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedarplus.ca . The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The Company cautions that mineralization on, or production from, neighbouring properties is no guarantee of the existence of similar mineralization or a guarantee of future production from the Illapel Project.

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.

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SOURCE Vortex Metals Inc.

FAQ

Who has been appointed to the Board of Directors of Vortex Metals?

Mr. Paul Fürst, Director of Banco de Chile, has been appointed to the Board of Directors of Vortex Metals.

What is Mr. Paul Fürst's experience in the mining industry?

Mr. Paul Fürst has over 18 years of experience in the mining industry, specializing in mining services, drilling, and project management.

What are the stock options granted by Vortex Metals?

Vortex Metals has granted 1.625 million incentive stock options at an exercise price of $0.10 per share.

What are the RSUs granted by Vortex Metals?

Vortex Metals has granted one million restricted share units (RSUs) to its directors and officers, vesting quarterly over one year.

What is the significance of Mr. Paul Fürst joining Vortex Metals?

Mr. Paul Fürst's appointment is significant due to his extensive experience in the mining and business sectors, which will provide valuable insights and leadership to Vortex Metals as it advances its projects in Chile and Mexico.