VANCOUVER, BC, Oct. 4, 2022
/CNW/ - MANTARO PRECIOUS METALS CORP. (TSXV: MNTR) (OTCQB:
MSLVF) (FSE: 9TZ) (the "Company" or "Mantaro") announces that
Craig Hairfield has resigned as
Chief Executive Officer and director of the Company, effective
immediately.
Dr. Chris Wilson, PhD., FAusIMM
(CP), FSEG, Chairman of the Board and Chief Geologist states,
"Myself and the board of directors are acutely aware of the
extremely challenging market conditions over the last several
months and the need to keep shareholders up to date with the
corporate strategy and project news. When the previous CEO
joined in early April 2022, the
Company had cash of approximately C$4
million and traded at a share price of approximately
C$0.18. As Chairman, I would
like to re-assure shareholders that an experienced board of
directors remains at the helm of Mantaro. With approximately
C$1.2 million in cash, we have
sufficient funds to meet our required expenditures at the Golden
Hill Property and the Santas Gloria Property, and Mantaro will work
with laser focus to reduce costs to maintain shareholder value. The
Company is actively seeking a CEO who understands the value of the
company's project portfolio, has demonstrated ability to
successfully complete financings in the junior exploration space
irrespective of market conditions, and is proactive and
outward-looking with respect to shareholder engagement."
Dr. Wilson further comments, "All drill core samples from the
Golden Hill Property are with ALS and Mantaro expects to release
initial drill results very shortly and at regular intervals
thereafter. Following release of Golden Hill assay results, the
Company will provide a general update to shareholders, which will
include a planned drill program at the high-grade silver-gold
system within the 100% owned Santas Gloria Property in Peru, and a potential second drill program at
the Company's Golden Hill Property in Boliva. Golden Hill is a fully permitted mining
concession with historical production."
About Mantaro Precious Metals
Corp.
Mantaro Precious Metals Corp. is a British Columbia company that holds a
diversified portfolio of gold and silver focused mineral properties
in Bolivia and Peru. The
Company's holds an option to acquire up to an 80% interest in the
advanced Golden Hill Property, located in the underexplored,
orogenic Bolivia Shield, Bolivia.
The Company also has a 100% interest in the high-grade Santas
Gloria Property as well as a 100% interest in each of the La
Purisima, Cerro Luque and Huaranay
Properties (collectively, the "Silver Properties").
The Silver Properties are located in Peru.
Forward-Looking
Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. The Company cautions that all
forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Company's control. Such factors include,
among other things: risks and uncertainties relating to Company's
limited operating history and the need to comply with environmental
and governmental regulations. Accordingly, actual and future
events, conditions and results may differ materially from the
estimates, beliefs, intentions and expectations expressed or
implied in the forward looking information. Except as required
under applicable securities legislation, the Resulting Issuer
undertakes no obligation to publicly update or revise
forward-looking information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mantaro-precious-metals-corp-announces-resignation-of-chief-executive-officer-301640017.html
SOURCE Mantaro Precious Metals Corp.
