Temas Resources Confirms Experienced Resource Executive to Join Board of Directors
Temas Resources Confirms Experienced
Resource Executive to Join Board of Directors
Temas Resources To Welcome Experienced Resource Executive, Mr. Rory Kutluoglu,
to its Board of Directors. Mr. Kutluoglu has been responsible for several grassroots
exploration programs across Canada culminating as Exploration Manager for
Goldcorp’s $520m acquisition target, Kaminak Gold.
VANCOUVER, British Columbia, October 14, 2020 ― Temas Resources Corp. (“The Company”, “ Temas
Resources”, CSE: TMAS, OTC QB: TMASF), a publicly traded company focused on the advancement of
mineral independence within stable, mining -friendly jurisdictions, is pleased to confirm Kaminak Gold
Alumnus, Mr. Rory Kutluoglu, will join its Board of Directors.
Mr. Kutluoglu was Expl oration Manager for Kaminak Gold Corporation from 2012 to 2015 and was part
of the team that delivered the maiden resource, positive preliminary economic assessment and positive
feasibility study for the Coffee Gold Project in the Yukon, which was subseque ntly acquired by Goldcorp
Inc. (now Newmont Corporation) for $520 million.
Mr. Kutluoglu commented, “During my work on the Coffee Gold Project at Kaminak Gold, we were
always focused on generating value for shareholders, and that same drive is what I see in the team here
at Temas Resources.”
Mr. Kutluoglu is a Professional Geoscientist and Fellow of the Society of Economic Geologists with more
than fifteen years of notable exploration experience in a wide variety of commodities across North
America. Mr. Kutluoglu began his career working with the team that discovered the Broken Hammer
deposit for Wallbridge Mining Company Limited. Mr. Kutluoglu then, as a Project Geologist from 2006 to
2009, was responsible for planning, implementing, and reporting on exp loration programs across
Canada for various clients while working for Equity Exploration. The 2009 field season was spent
working with Gold Fields Limited, conducting porphyry exploration in British Columbia. In 2009 thru
2010, Mr. Kutluoglu filled a simil ar role at Kiska Metals Corp. (acquired by AuRico Metals Inc., and less
than one year later acquired by Centerra Gold Inc. for $290 million). From Kiska Metals, Mr. Kutluoglu
went on to be part of the team that created Evrim Resources Corp. (now Orogen Roy alties Inc. after
merger with Renaissance Gold Inc.) and acted as VP Business Development from 2011 to 2012. In 2012 -
2015, Mr. Kutluoglu was Exploration Manager for Kaminak Gold Corporation, which was subsequently
acquired by Goldcorp Inc. (now Newmont Corporation) for $520 million.
“The fortunate experiences of being involved in past success stories is why I so look forward to being
able to contribute my efforts to Temas Resources,” noted Mr. Rory Kutluoglu, “The opportunity to play a
leading role in adva ncing Temas Resources’ projects in the Grenville Geological Province is one I am
privileged to be a part of.”
“We are extremely pleased to welcome Kaminak Gold Alumnus, Rory Kutluoglu, to the Board,” said Kyler
Hardy, CEO of Temas Resources. “His breadth of experience and direct expertise on our existing
properties will be a major contribution to Temas Resources and our efforts to advance the critical
mission of mineral independence.”
Subsequent to the Goldcorp Inc. buyout of Kaminak Gold Corporation, Mr. Kutluoglu was appointed Vice
President of Exploration and Development at Kutcho Copper Corp., a company supported by significant
shareholder Wheaton Precious Metals Corp. with a $100 million financing package, where he currently
serves. Mr. Kutluoglu obtained his Bachelor of Science degree in Geology from Lakehead University, and
has been a Professional Geoscientist registered with The Association of Professional Engineers and
Geoscientists British Columbia since 2011, and is also a Fellow of the Society of Economic Geologists.
More information about Temas Resources’ board of directors, executive team and management may be
found at www.temasresources.com.
About Temas Resources
Temas Resources Corp. ("Temas Resources") (CSE: TMAS) (OTCQB: TMASF) is responding to the growing
global demand for Iron ore and two strategically important minerals — Titanium and Vanadium —
deemed by the U.S. Department of the Interior as critical to U.S. national security and the economy.
Temas Resources first and flagship propert ies are located in the stable, mining -friendly jurisdiction of
Quebec (Canada) bordering Vermont, Maine, and New York State (U.S.) in an area known as the
Grenville Geological Province. The Grenville Geological Province is home to Lac Tio, the largest soli d
ilmenite deposit in the world. As a mineral exploration company focused on the acquisition, exploration
and development of Iron, Titanium, and Vanadium properties, Temas Resources has focused its efforts
on advancing two major projects in the Grenville Geological Province area. The first, the DAB Property, is
an option for 100% interest consisting of 128 contiguous mineral claims which cover 6,813.72 hectares
(68.14 km²) within the Grenville Geological Province. The flagship, the La Blache Property, is 10 0%
ownership of 48 semi -contiguous mineral claims which cover 2,653.25 hectares (26.53 km²) within the
Grenville Geological Province. All public filings for the Company can be found on the SEDAR website
www.sedar.com. For more information about the Company, please visit www.temasresources.com.
Qualified Person
Rory Kutluoglu, B.Sc, P.Geo, is the Qualified Person as defined by NI 43 -101 who has reviewed and
approved the technical information contained within this press release.
On behalf of the Board of Directors of Temas Resources Corp.,
“Kyler Hardy”
CEO, Director
Contact: Nick Spencer, Investor Relations
Phone: +1 (604) 332-0902
Email: [email protected]
Forward Looking Statements
This news release includes certain “Forward ‐Looking Statements ” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and “forward‐looking information ” under
applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”,
“estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words
or expressions, identify forward‐looking statements or information. These forward‐looking statements or
information relate to, among other things: entry into a definitive a greement for the Equity Investment
Facility, closing of the Equity Investment Facility, the Company’s plan to build an advanced base and
special metals portfolio, the development of the La Blache Property and the DAB Property, including
drilling activities ; and future mineral exploration, development and production, the funding of the
Company pursuant to the Equity Investment Facility, the issuance of securities pursuant to the Equity
Investment Facility, and the resale restrictions and arrangements relating to such securities.
Forward‐looking statements and forward‐looking information relating to any future mineral production,
liquidity, enhanced value and capital markets profile of Temas Resources, future growth potential for
Temas Resources and its busine ss, and future exploration plans are based on management’s reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management’s
experience and perception of trends, current conditions and expected developments, and other factors
that management believes are relevant and reasonable in the circumstances, but which may prove to be
incorrect. Assumptions have been made regarding, among other things, the price of iron, titanium,
vanadium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration
and development; the estimated costs of development of exploration projects; Temas Resources’ ability
to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Temas Resources’ respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered reasonable
by management, are inherently subject to significa nt business, economic, competitive, political and
social uncertainties and contingencies. Many factors, both known and unknown, could cause actual
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 or forward -
looking information and Temas Resources has made assumptions and estimates based on or related to
many of these factors. Such factors include, without limitation: the Co mpany’s dependence on one
mineral project; precious metals price volatility; risks associated with the conduct of the Company’s
mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance on the
Company’s management team and outside contractors; risks regarding mineral resources and reserves;
the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at
all; currency fluctuations; risks regarding the failure to generate suffici ent cash flow from operations;
risks relating to project financing and equity issuances; risks and unknowns inherent in all mining
projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and
operating costs of suc h projects; contests over title to properties, particularly title to undeveloped
properties; laws and regulations governing the environment, health and safety; the ability of the
communities in which the Company operates to manage and cope with the implications of COVID-19; the
economic and financial implications of COVID -19 to the Company; operating or technical difficulties in
connection with mining or development activities; employee relations, labour unrest or unavailability;
the Company’s interactions with surrounding communities and artisanal miners; the Company’s ability to
successfully integrate acquired assets; the speculative nature of exploration and development, including
the risks of diminishing quantities or grades of reserves; stock market vol atility; conflicts of interest
among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk;
and the factors identified under the caption “Risk Factors” in Temas Resources’ management discussion
and analysis. Rea ders are cautioned against attributing undue certainty to forward ‐looking statements
or forward-looking information. Although Temas Resources has attempted to identify important factors
that could cause actual results to differ materially, ther e may be other factors that cause results not to
be anticipated, estimated or intended. Temas Resources does not intend, and does not assume any
obligation, to update these forward ‐looking statements or forward -looking information to reflect
changes in ass umptions or changes in circumstances or any other events affecting such statements or
information, other than as required by applicable law.