Avanti Gold Corp. announces the appointment of Terry Holohan as a Non-executive Independent Director
1 of 2
News Release
AVANTI GOLD CORP. ANNOUNCES THE APPOINTMENT OF TERRY HOLOHAN AS
NON-EXECUTIVE INDEPENDENT DIRECTOR ALONG WITH MANAGEMENT CHANGES
July 30, 2025 -- AVANTI GOLD CORP. (CSE: AGC) (the “Company”) is pleased to announce it has
appointed Terry Holohan as a Non-executive Independent Director of the Board of the Company, effective
immediately.
Mr. Holohan is a seasoned mining executive with over 40 years of experience in the mining industry, including
more than 30 years operating across Africa. He brings extensive leadership expertise, having served as CEO in
multiple organizations over the past decade. Mr. Holohan also possesses strong technical acumen, having played
a key role in the design, commissioning, and operation of numerous mining projects. Most recently, he served as
Managing Director of Resolute Mining Limited, where he led the funding and optimization of the company’s
flagship asset. During his tenure, he also managed Resolute’s strategic investment in Loncor Resources Inc.,
including conducting site visits to its flagship project in the Democratic Republic of the Congo.
Sir Sam Jonah, Chairman of the Board of Avanti Gold, commented: “We are delighted to welcome Terry to the
Board of Avanti. His extensive experience in the mining sector, combined with his deep technical knowledge and
long-standing involvement in the African mining industry, will be invaluable as we advance to the next phase of
growth. Terry’s appointment comes at a critical juncture, as we work to unlock the full potential of our flagship
Misisi Project, which already hosts over 3 million ounces of gold and offers substantial upside, being situated
along a 55-kilometre-long gold-bearing trend.”
In recent weeks, Avanti has attracted significant shareholder support, primarily because of the efforts of Ian
MacLean. Having achieved the objectives for which he was hired, Mr. MacLean is stepping down as Chief
Executive Officer and Director of the Company, effective immediately.
“The Board of Directors extends its sincere thanks and gratitude to Ian for his invaluable contributions and
dedication. His leadership and strategic initiatives have played a critical role in safeguarding Avanti and
positioning it for future growth and success. We wish Ian well in his future endeavours.” said Sir Sam Jonah,
Chairman of the Board.
While Avanti is in advanced discussions with several CEO candidates, Swapan Kakumanu has been appointed
as Interim CEO effective immediately, given his strong understanding of the Company. Swapan is currently a
financial and corporate consultant to the Company and has been involved with Avanti since November 2023.
The company expects to make further announcements in due course as the leadership transition progresses.
2 of 3
About Terry Holohan – Non-executive Independent Director of the Board
Mr Holohan, a qualified metallurgist, is a highly experienced mining executive with over 40 years mining industry
experience which started in the 1980s and 90s in the Zimbabwean and South African processing wheelhouses of
Gencor, Impala Platinum and then Anglo American Platinum. From 2003, as senior vice president at Ivanhoe
Nickel and Platinum he spent four years in the DRC obtaining the first set of ‘Clean and Clear’ exploration titles
under the, then new, 2002 Mining Code. On receiving these licenses he put together a team of twenty geologists
and commenced the major exploration program in Katanga before leaving in 2007 to head the exploration and
development programs at Platmin. Terry has nine years of chief executive officer experience of several mining
companies involved in exploration and production of various mining commodities including gold, platinum group
metals, nickel and copper. Terry has worked in several countries in Africa as well as Asia, North America and
Australia. His most recent role was Managing Director of Resolute Mining Limited, an ASX listed company,
where he oversaw the funding and optimization of the company’s assets including the turnaround of its flagship
Syama gold mine located in Mali, West Africa.
As an engineer, Mr Holohan was involved in the design, commissioning and operation of numerous complex
metallurgical capital projects in the platinum, nickel, copper, gold, chrome and diamond industries. He was also
involved in detailed mine design programs and engineering studies for several open cut and underground mining
development operations. Prior to joining Resolute, Mr Holohan was Chief Executive Officer of PT Archi
Indonesia for five years where he successfully developed and expanded a multi-open pit gold mine from an
exploration project to an operational mine paying dividends. Mr Holohan brings experience in operating in
technically and socially challenged environments where he has led multi-cultural workforces. He is a Chartered
Engineer with the Engineering Council (UK) and a Member of the IOM3. He is also a Member of the IOD.
About Swapan Kakumanu – Interim CEO
He brings over 30 years of senior finance and operations experience. He has served at senior executive
management levels, both in the public and private companies in various industries. He has held senior
management roles as President, Chief Executive Office and Chief Financial Officer where he has played a key
role in raising over $250 million through various financing vehicles, including debt, convertible debt, equity and
other non-dilutive instruments both in the private and public markets.
About Avanti Gold Corp.
Avanti Gold Corp. is a gold exploration company focused on advancing its portfolio of high-potential projects in
Africa. The Company’s flagship asset, the Misisi Project in the Democratic Republic of Congo, hosts the
Akyanga gold deposit, which contains an Inferred Mineral Resource of 44.3 million tonnes at an average grade
of 2.37 g/t gold, totaling 3.1 million ounces of gold. The Misisi Project covers three contiguous 30-year mining
leases totaling 133 km² along the Kibara Gold Belt, a 55-kilometre-long gold-bearing trend in a prolific
metallogenic province.
3 of 3
Qualified Person
Ephraim Masibhera, a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure
for Mineral Projects (“NI 43-101”), has reviewed and approved the scientific and technical information contained
in this news release. Historical information presented herein should not be relied upon as it has not been verified
by the Company’s Qualified Person.
On behalf of the Board of Directors
AVANTI GOLD CORP.
Contact Information:
(Interim CEO Email): [email protected]
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”,
“believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking
statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily
based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political and social risks, contingencies and uncertainties. These risk and uncertainties include,
but are not limited to, the risk factors set out in Avanti’s annual and/or quarterly management discussion and analysis and in other of its public disclosure
documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Many factors, both known and unknown,
could cause results, performance or achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation,
to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other
events affecting such statements and information other than as required by applicable laws, rules and regulations.