VANCOUVER, BC, Dec. 15, 2021 /CNW/ - Diamond Fields Resources
Inc. (TSX-V: DFR) ("DFR" or the "Company") is pleased to
announce the appointment of John
McGloin as a director and Chief Executive Officer effective
January 1, 2022.
Mr. McGloin brings a wealth of experience in the mining and
exploration industry to the Company. He was the Chairman and Chief
Executive officer of Amara Mining as it progressed the Yaoure
project in Côte d'Ivoire from discovery through to feasibility
study and oversaw a growth in the resource base from 200,000 oz to
over 6 million oz. Subsequently this project has gone on to be the
cornerstone of Perseus Mining's future growth following its
acquisition of Amara Mining.
Mr. McGloin is a geologist and graduate of Camborne School of
Mines and spent his early career as a geologist in Southern Africa before working across the
continent within the mining industry and subsequently moving into
consultancy. He joined Arbuthnot Banking Group following four years
at Evolution Securities as their mining analyst. He is also the
former Head of Mining at Collins Stewart. He has served as
non-executive director on a number of mining and exploration
companies listed in Toronto,
New York and London. Mr. McGloin will relinquish all of his
current roles except for his non-executive directorships of Perseus
Mining Limited and Cornish Metals Inc..
Mr. Sybrand Van Der Spuy will
assume the role of Chief Operating Officer responsible for the
logistics, supply chains and security of the Company's projects
throughout Africa. Mr.
Van Der Spuy oversaw the discussions
resulting in the Company's acquisition of Moydow Holdings, which
will become the focus of the Company's exploration and development
efforts going forward.
Al Gourley, Chairman of DFR
said:
"We are delighted to have John as the new CEO of DFR. John is
highly respected in the industry and has a strong track record of
creating value through the development of mining projects in
Africa. He has the right mix of
geological, financial and management skills to lead the development
of the highly prospective Labola project in Burkina Faso that DFR is in the process of
acquiring.
"I would also like to thank Sybie for his contributions to DFR
as CEO and look forward to continuing to work with him in his new
role as we enter the next stage in the Company's development."
John McGloin said:
"I'm excited by the opportunity that DFR represents and have a
clear vision for how to incrementally build value through the
development of the Company's assets to create a new West African
gold explorer."
The appointment of John McGloin
is subject to the approval of the TSX Venture Exchange.
Notes to Editors:
DFR is a TSX Venture Exchange listed exploration and mine
development company with assets in Madagascar and Namibia. In Madagascar, DFR is developing the Beravina
Project, an advanced high grade hard rock zircon exploration
prospect located in the west of the country, approximately 220km
east of the port of Maintirano and close to a state road. DFR
acquired Beravina from Pala Investments and Austral Resources in
2016. In Namibia, the Company owns
several offshore diamond mining licenses including the ML 111
concession which has a ten-year mining license, effective until
4 December 2025. In 2018 and early
2019 mining undertaken by a contractor on the Company's ML111
license area produced two parcels of rough diamonds totaling
47,318.41 carats.
On 25 August 2021 DFR announced
that it had entered into definitive agreements to acquire privately
owned Moydow Holdings Limited ("Moydow") which holds interests in a
number of West African gold exploration projects. Moydow is a
privately owned, BVI registered, West African focused gold
exploration business, which was formed in 2019. At closing Moydow
will be controlled by DFR. Moydow has interests in gold projects in
West Africa; Labola in
Burkina Faso, Kalaka in
Mali, Dagma, Paimasa/Mint and Dext
in Nigeria.
Website: www.diamondfields.com
The Company's public documents may be accessed at
www.sedar.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 release contains certain "forward-looking information"
within the meaning of applicable Canadian securities legislation.
All statements other than statements of historical fact in this
release that address activities, events or developments that DFR
expects or anticipates will or may occur in the future are
forward-looking statements or information. Often, but not always,
forward-looking information can be identified by the use of words
such as "aim", "aspire", "strive", "will", "expect", "intend",
"plan", "believe" or similar expressions as they relate to DFR.
Forward- looking information is subject to a variety of risks and
uncertainties which could cause actual events or results to
materially differ from those reflected in the forward-looking
information. The forward-looking statements and information in this
release include but are not limited to statements and information
relating to regulatory approvals and the acquisition of Moydow.
Such statements and information reflect the current view of DFR.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause
DFR's actual results, performance or achievements or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
There are a number of important factors that could cause DFR's
actual results to differ materially from those indicated or implied
by forward-looking statements and information. Such factors
include, among others the ability to obtain the required regulatory
approvals. Should one or more of these risks, uncertainties or
other factors materialize, or should assumptions underlying the
forward-looking information or statement prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or
expected.
DFR cautions that the foregoing list of material factors is not
exhaustive. When relying on DFR's forward-looking statements and
information to make decisions, shareholders should carefully
consider the foregoing factors and other uncertainties and
potential events. DFR has assumed that the material factors
referred to in the previous paragraph will not cause such forward
looking statements and information to differ materially from actual
results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors. The forward-looking information contained in this
release represents the expectations of DFR as of the date of this
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward looking
information and should not rely upon this information as of any
other date. While DFR may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable laws.
SOURCE Diamond Fields Resources Inc.