Hercules Silver Appoints Mr. Kelly Malcolm as Independent Director
Hercules Silver Appoints Mr. Kelly Malcolm as
Independent Director
Toronto, Ontario--(Newsfile Corp. - March 2, 2023) -
Hercules Silver Corp.
(
TSXV: BIG) (OTCQB:
BADEF) (FSE: 8Q7)
("
Hercules Silver
" or the "
Company
") is pleased to announce the appointment of
Mr. Kelly Malcolm as an Independent Director of the Company. The appointment expands the board of
directors of the Company (the "
Board
") to five qualified professionals, with extensive backgrounds in
exploration and development, capital markets, accounting and finance, and corporate governance. The
Board now consists of a majority of independent directors.
Mr. Malcolm is a Professional Geologist with extensive exploration experience focused on precious
metal exploration and is currently the Vice President of Exploration for Amex Exploration Inc. He
specializes in the integration and interpretation of geological, geochemical, and geophysical data to
guide exploration and development activities. He was previously involved in the discovery and
delineation of Detour Gold's high grade 58N gold deposit, and has acted as director, advisor, or
management for several public and private mineral exploration companies. He holds a Bachelor of
Science Honours in geology and a Bachelor of Arts in economics, both from Laurentian University.
The Company also announces that it has granted 750,000 incentive stock options (the "
Options
") and
750,000 restricted share units ("
RSUs
") to Mr. Malcolm, with an effective date of March 1, 2023. The
Options and RSUs will vest in four equal tranches over 24 months from the grant date of March 1, 2023.
The Options are exercisable for a period of 5 years have an exercise price of $0.265 per common
share. The options and RSUs were granted pursuant to the Company's omnibus incentive plan approved
by shareholders of the company on July 15, 2022.
Management Commentary
Mr. Chris Paul, CEO and Director of the Company, commented: "
We are delighted to Kelly join our
team. He brings a wealth of exploration experience to our board and extensive capital market
relationships throughout the globe. His appointment is testament to the quality of the asset package
we have assembled at Hercules. On behalf of the Board, I welcome Kelly to our company."
Mr. Kelly Malcolm, Independent Director of the Company, commented:
"I am very pleased and excited
to accept this appointment. I've been following the Company's progress over the past year as they've
worked to demonstrate the significant potential of the Hercules Project. I look forward to working with
Chris and the other members of the Board and hope to have a positive impact on the future direction
of the Company and its project in Idaho."
About Hercules Silver Corp.
Hercules Silver Corp. is a junior mining company focused on the exploration and development of the
100% owned Hercules Silver Project, northwest of Cambridge, Idaho.
The Hercules project is a disseminated silver-lead-zinc system with 28,000 meters of historical drilling
across 3.5 kilometers of strike. The Company is well positioned for growth through the drill bit in 2023,
having completed extensive surface exploration in 2022 consisting of soil & rock sampling, geological
mapping, IP geophysics, and a 9-hole drill program.
The Company's management team brings significant exploration experience through the discovery and
development of numerous precious metals projects worldwide.
For further information please contact:
Chris Paul
CEO & Director
Telephone +1 (604) 449-6819
Email:
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. Any securities referred to herein have not and will not be registered under
the United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws of an exemption from such
registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information" with
respect to the Company within the meaning of applicable securities laws. Such forward-looking
information involves known and unknown risks, uncertainties and other factors that may cause the
Company's actual results, performance or achievements, or developments in the industry to differ
materially from the anticipated results, performance or achievements expressed or implied by such
forward-looking information. Forward-looking information includes statements that are not historical facts
and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will,"
"would," "may," "could" or "should" occur. Forward-looking statements in this news release include but
are not limited to, statements with respect to the vesting schedule of the RSUs and Options, the
Company's objectives, goals or future plans and the expected financial performance of the Company.
Although the Company believes the forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by its nature, forward-looking information
involves assumptions and known and unknown risks, uncertainties and other factors which may cause
our actual results, level of activity, 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 information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks
and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse
industry events; the receipt of required regulatory approvals and the timing of such approvals; that the
Company maintains good relationships with the communities in which it operates or proposes to
operate, future legislative and regulatory developments in the mining sector; the Company's ability to
access sufficient capital from internal and external sources, and/or inability to access sufficient capital on
favorable terms; mining industry and markets in Canada and generally; the ability of the Company to
implement its business strategies; competition; the risk that any of the assumptions prove not to be valid
or reliable, which could result in delays, or cessation in planned work, risks associated with the
interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results
will not be consistent with the Company's expectations, as well as other assumptions risks and
uncertainties applicable to mineral exploration and development activities and to the Company, including
as set forth in the Company's public disclosure documents filed on the SEDAR website at
www.sedar.com
.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF HERCULES SILVER AS OF THE DATE OF THIS
PRESS 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 HERCULES SILVER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE
WITH APPLICABLE LAWS.
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
press release.
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https://www.newsfilecorp.com/release/156873