VANCOUVER, British Columbia, May 25, 2023 (GLOBE NEWSWIRE) — Solstice Gold Corp. (TSXV: SGC) (“Solstice”, “we”, “our” or the “Company”) is pleased to announce that Pablo McDonald has been appointed Chief Executive Officer and director of the Company, effective May 24, 2023.
Mr. McDonald is a mining professional with fifteen years of experience of generating value on a diverse range of projects from greenfield exploration programs to some of the largest mines in the world. Prior to joining Solstice, he spent nearly a decade in consulting with mid-tier and major mining companies where he designed and executed projects critical to extending mine life, most notably for Newmont and B2Gold. Pablo has also managed exploration programs across North and South America, Europe, and Africa. Mr. McDonald holds a bachelor’s degree in Geological Engineering from Queen’s University.
David Adamson Chairman stated, “On behalf of the Board of Directors, I am pleased to welcome Mr. McDonald as Solstice’s new CEO. Over the past 15 months Pablo has skillfully managed Solstice’s operations and exploration team. He was instrumental in Solstice’s early recognition of the Eastern English River Subprovince’s Lithium potential, which led to the acquisition of our 174 km2SLP land package. He has demonstrated that he has the leadership skills necessary to build out our business plan and drive shareholder value through discovery on our key exploration assets, continued monetization of our extensive Royalty Portfolio and leverage new opportunities.”
Mr. McDonald stated, “I am pleased to accept the role of Director and CEO of Solstice. Over the past year in the role of Exploration Manager I conducted an in-depth analysis of the Company and its properties and projects. I am convinced that, by building on the hard work done to date, there is a strong opportunity for discovery. I am impressed with the strength of our technical team and commitment of our Board, and I am fully committed to take the steps necessary to drive shareholder value through asset discovery and development.”
In connection with Mr. McDonald’s appointment, pursuant to Solstice’s stock option plan, the Company issued to him 900,000 stock options exercise for common shares of the Company at an exercise price of $0.05 with a term of five years with one third vesting immediately, one third after one year and one third after two years. The stock options are governed by the Company’s stock option plan.
Mr. McDonald’s appointment as CEO and a director of the Company is subject to acceptance and approval by the TSX Venture Exchange.
Upon Mr. McDonald’s appointment on May 24th, David Adamson will step down from his role as interim CEO but will remain in his position as Chairman of the Board of Directors.
About Solstice Gold Corp.
Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. Our 194 km2 Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake Camp in Ontario and approximately 45 km from the Red Lake Mine Complex owned by Evolution Mining. Our 322 km2 Atikokan Gold Project is approximately 23 km from the Hammond Reef Gold Project owned by Agnico Eagle Mines Limited. Our Qaiqtuq Gold Project which covers 886 km2 with certain other rights covering an adjacent 683 km2, hosts a 10 km2 high grade gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 km from Rankin Inlet and approximately 7 km from the Meliadine Gold Mine owned by Agnico Eagle Mines Limited. An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October 2021. Over $2 million in value and three new royalties have been generated since the acquisition.
Solstice is committed to responsible exploration and development in the communities in which we work. For more details on Solstice Gold, our exploration projects and details on our recently acquired portfolio of projects please see our Corporate Presentation available at www.solsticegold.com.
David Adamson was a co-award winner for the discovery of Battle North Gold Corporation’s Bateman Gold deposit and was instrumental in the acquisition of many of the district properties in the Battle North portfolio during his successful 16 years of exploration in the Red Lake.
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.
On Behalf of Solstice Gold Corp.
David Adamson, Chairman
For further information on Solstice Gold Corp., please visit our website at www.solsticegold.com or contact:
Phone: (604) 283-7234
Forward-Looking Statements and Additional Cautionary Language
This news release contains certain forward-looking statements (“FLS”) including, but not limited to the monetization of the Company’s Royalty Portfolio, asset discovery and development. FLS can often be identified by forward-looking words such as “approximate or (~)”, “emerging”, “goal”, “plan”, “intent”, “estimate”, “expects”, “potential”, “scheduled”, “may” and “will” or similar words suggesting future outcomes or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. In respect of the FLS, the Company has made certain assumptions that management believes are reasonable at this time. The assumptions include that Mr. McDonald’s appointment as CEO and a director will be accepted by the TSXV and the Company will have adequate capital to acquire and develop assets however, there can be no assurance that such assumptions and statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from any FLS include, but are not limited to, the lack of assets available for acquisition or that these assets may not be able to be acquired by the Company on satisfactory terms to the Company, failure to obtain required TSXV, governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, regulatory approvals and other factors. FLS are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.
Potential shareholders and prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the FLS. Shareholders are cautioned not to place undue reliance on FLS. By their nature FLS involve numerous assumptions, inherent risks and uncertainties, both general and specific that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Solstice undertakes no obligation to update publicly or otherwise revise any FLS whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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