Western Alaska Minerals Announces Appointment of New CFO

Rhea-AI Summary

Western Alaska Minerals (WAM) announced the appointment of Darren Morgans as their new Chief Financial Officer (CFO), effective June 1, 2024. Morgans, a seasoned finance professional with over 25 years of experience, has held significant roles with various publicly listed resource companies in Canada and Australia. He is currently serving as CFO of Cosa Resources Corp., and has previously been fractional CFO for Velocity Minerals and Volta Metals. Notably, he was the CFO of Perpetua Resources Corp., where he played a pivotal role in its IPO and subsequent capital raises totaling over C$200 million.

Morgans' extensive background in finance and capital markets is expected to benefit WAM, especially in advancing pre-development exploration projects. Alex Tong, the outgoing CFO, will remain in the role until May 31, 2024, and WAM expressed gratitude for his contributions.

Positive

• Appointment of experienced CFO Darren Morgans, effective June 1, 2024.
• Morgans has over 25 years of experience with Canadian and Australian publicly listed resource companies.
• Significant roles previously held by Morgans include CFO at Cosa Resources Corp., and fractional CFO for Velocity Minerals and Volta Metals.
• Morgans helped raise over C$200 million for Perpetua Resources Corp during his tenure.
• Morgans' experience in capital markets and pre-development exploration companies is expected to benefit WAM.

Negative

• Transition period before the new CFO, Darren Morgans, assumes his position could cause temporary uncertainties.

TUCSON, AZ / ACCESSWIRE / May 23, 2024 / Western Alaska Minerals (the "Company" or "WAM") (TSXV:WAM) is pleased to announce the appointment of Darren Morgans as its Chief Financial Officer (CFO) effective June 1, 2024.

Darren Morgans, a Canadian CPA and Australian CA, has been a practicing finance professional since 1995 and has worked with Canadian and Australian publicly listed resource companies for over 25 years. Mr. Morgans is currently CFO of Cosa Resources Corp, a uranium explorer in the Athabasca Basin in Canada. Previously, Mr. Morgans was a fractional CFO for Velocity Minerals and Volta Metals, both Canadian listed junior explorers. Mr. Morgans was the CFO of Perpetua Resources Corp. (formerly Midas Gold Corp.) for over 10 years, joining Midas Gold when it was a private company, and then assisting through its IPO in 2011. He subsequently helped raise over $C200 million in equity, convertible debt and royalty financings, with the focus of advancing the Stibnite Gold Project from a small resource to a Feasibility Study with almost 5 million oz in reserves. Before joining Midas Gold in 2011, he was the Controller and Secretary for Terrane Metals Corp., prior to its acquisition by Thompson Creek Metals. He has also worked for Placer Dome Inc. and Mount Isa Mines. Mr. Morgans began his career with PwC after obtaining a Bachelor of Commerce from the University of Queensland.

CEO Kit Marrs states, "We are very pleased to welcome Mr. Morgans as CFO. Darren brings a wealth of financial experience in our sector. His experience with pre-development exploration companies and capital markets, along with his keen business acumen, will aid in the advancement of our company and the pursuit of growth for our shareholders."

Alex Tong will continue to serve in the role of CFO until May 31, 2024. The Company would like to thank Mr. Tong for his contributions to the Company and wish him continued success in his future endeavours.

About WAM

Our mission is to advance a mineable and scalable CRD, ultimately reshaping the mineral landscape of western Alaska and establishing a new CRD district.

WAM's 100% owned claims cover 73,120 acres (114.25 square miles or 29,591 hectares), approximately 45 km east of an ocean barge-compatible section of the Yukon River. WAM's intact mineralized CRD system encompasses the (past producing) Illinois Creek gold-silver mine, the Waterpump Creek high-grade silver-lead-zinc deposit, open to the north, and the Honker gold prospect. Twenty-five kilometers northeast of the Illinois Creek CRD lies the Round Top copper and the TG North CRD prospects. All prospects were originally discovered by Anaconda Minerals Co. in the early 1980's. Since 2010, WAM, along with its precursor company, Western Alaska Copper & Gold, reassembled the Anaconda land package and has been engaged in exploring the district.

Headquartered in both Alaska and Arizona, WAM brings together a team of seasoned professionals with a shared vision of pioneering new frontiers in mineral exploration. Our strategic approach is underpinned by cutting-edge technology, innovative techniques, and a deep understanding of the geological intricacies of the region.

On behalf of the Company

"Kit Marrs"

Kit Marrs
President & CEO
Phone: 520-200-1667

For further information please contact:

Vanessa Bogaert, Director of Corporate Communications/IR at vanessa@westernalaskaminerals.com

Or visit our website at: www.westernalaskaminerals.com

Neither 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.

SOURCE: Western Alaska Minerals Corp.

View the original press release on accesswire.com

FAQ

When will Darren Morgans assume the role of CFO for Western Alaska Minerals?

Darren Morgans will assume the role of CFO on June 1, 2024.

What is the stock symbol for Western Alaska Minerals?

The stock symbol for Western Alaska Minerals is WAMFF.

What experience does Darren Morgans bring to Western Alaska Minerals?

Darren Morgans has over 25 years of experience with Canadian and Australian publicly listed resource companies and has significant expertise in finance and capital markets.

What roles has Darren Morgans previously held?

Darren Morgans has been CFO of Cosa Resources Corp., fractional CFO for Velocity Minerals and Volta Metals, and CFO of Perpetua Resources Corp.

Who will be the outgoing CFO of Western Alaska Minerals?

Alex Tong will be the outgoing CFO, serving until May 31, 2024.

What significant achievements does Darren Morgans have in his career?

Notably, Darren Morgans helped raise over C$200 million in equity, convertible debt, and royalty financings for Perpetua Resources Corp.