Vancouver, British Columbia–(Newsfile Corp. – February 1, 2019) – Maritime Resources Corp. (TSXV: MAE) (“Maritime”) announced that effective January 31, 2019 the following board and management changes have occurred to reflect the continued evolution and development of Maritime as it works to further advance the high-grade Hammerdown gold project and its Whisker and Orion exploration projects in Newfoundland:
- Mr. Douglas Fulcher will no longer serve as Maritime’s President and Chief Executive Officer and has resigned as a member of the board;
- Mr. Andrew Pooler will no longer serve as Maritime’s Chief Operating Officer and has resigned as a member of the board; and
- Mr. Garett Macdonald, currently a member of the board, will serve as Maritime’s President and Chief Executive Officer.
Maritime’s Chairman, Mr. John Hayes, stated, “I would like to thank Doug and Andrew, on behalf of Maritime and Maritime’s board, for their service as Maritime’s President and Chief Executive Officer and as Maritime’s Chief Operating Officer, respectively. The company has benefited from Doug’s efforts in guiding Maritime’s operations and has also benefitted from Andrew’s technical expertise as reflected in the progress the company has made to date on its projects.”
Mr. Hayes continued, “On behalf of Maritime and Maritime’s board, I would like to take this opportunity to welcome Garett as Maritime’s President and Chief Executive Officer. With his diverse and extensive engineering experience in project development and mine operations, including both open pit and narrow vein underground settings, the board believes that Garrett will provide the necessary technical and corporate leadership to Maritime as the company examines and advances development opportunities at Hammerdown. His innovation and commercial focus have earned him the reputation for producing results which will benefit Maritime at this important stage in its history and in the development of the company’s projects.”
About Maritime Resources Corp:
Maritime Resources holds a 100% interest in the Green Bay Property, located near Springdale, Newfoundland and Labrador, Canada.
On behalf of the Board of Directors,
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.
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