Camino Announces Board and Executive Changes; Significantly Strengthens Management Team to Support Corporate and Project Development
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Camino Announces Board and Executive Changes;
Significantly Strengthens Management Team to Support
Corporate and Project Development
Vancouver, January 10, 2024 – Camino Minerals Corporation (TSXV: COR) (OTCQB: CAMZF) (WKN:
A116E1) ("Camino” or the "Company") is pleased to announce that Chris Adams, former head of
Macquarie’s mining finance business in the Americas, has joined the Camino Board of Directors. In
addition, David Baker has stepped down as a Director of the Company and joined the Camino
executive team full-time as Chief Financial Officer.
Mr. Adams has over 30 years of mining finance experience and particular mining knowledge in the
Americas. With Macquarie, he led teams to evaluate and execute on equity investments and loans
to development projects around the world , and marketed commodity derivatives. Prior to
Macquarie, Mr. Adams worked in mining investment banking in Canada and Australia for both
Macquarie and CIBC. He holds a Bachelor of Commerce degree from McGill University, an MBA from
Massachusetts Institute of Technology, and the CFA designation.
Mr. Baker is an MBA and Chartered Accountant (Australia) with over 30 years of experience in public
accounting, project development, major mine operations, and government relations. He has spent
most of his career working with the Ivanhoe Group of companies led by mining entrepreneur Robert
Friedland. Holding multiple roles within the Ivanhoe Group, including Vice President Treasurer, he
was intricately involved with the study, development, construction, and financing of the Oyu Tolgoi
copper porphyry project in Mongolia. Prior to joining Camino, Mr. Baker was Chief Financial Officer
for VRB Energy Inc., a company which manufactures and installs grid-scale vanadium redox battery
energy storage systems and is a subsidiary of listed US company Ivanhoe Electric Ltd.
Justin Bourassa, who has served as the Company’s Chief Financial Officer since 2019, has resigned
from his position but will remain as a key adviser to the Company.
"As Camino continues to advance our projects in Peru and evaluate corporate development
opportunities, we are pleased to add the experience of both Chris and David to our team. Chris is
highly regarded as a leader in mining finance and is a strong addition to our Board of Directors. David
has a long career in the mining industry in roles that have provided a unique opportunity to be
involved with major projects from the drilling stage right through to first production and
operations,” said Jay Chmelauskas, CEO of Camino. "We also thank Justin Bourassa for his dedication
to the CFO role for the past several years, and we are grateful that he will remain with the Company
in an advisory capacity as we integrate and expand our finance capabilities to support the continued
development of our Los Chapitos, Maria Cecilia, and Plata Dorada properties, and our corporate
development strategy."
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Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
In addition to the Board and executive changes, the Company intends to issue a total of 2,235,295
ordinary shares to Resource Play at a deemed price per share of $0.085 as a Finder’s Fee for the
Earn-In Agreement reached with Nittetsu Mining Co., Ltd. (“Nittetsu”). The intention to pay the fee
was noted in the Company’s February 2023 news release and is calculated based on $4,000,000 of
actual funds contributed to date by Nittetsu to continue the exploration and development and earn-
in at the Los Chapitos property.
The Company will also issue 352,942 ordinary shares at a deemed price of $0.085 to Justin Bourassa,
former CFO, in recognition of his contributions to the Company’s growth.
All share issues remain subject to TSX Venture Exchange acceptance, and all shares issued
thereunder will be subject to a statutory hold period of four months and one day from the date of
issuance in accordance with applicable securities legislation.
About Camino
Camino is a discovery and development stage copper exploration company. Camino is focused on
advancing its high -grade Los Chapitos copper project located in Peru through to resource
delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper
porphyry project for a planned exploration drilling program. In addition, Camino has increased its
land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of
advanced copper assets that have the pot ential to deliver copper into an electrifying copper
intensive global economy. For more information, please refer to Camino’s website at
www.caminocorp.com.
ON BEHALF OF THE BOARD For further information, please contact:
/S/ “Jay Chmelauskas” Camino Investor Relations
President and CEO [email protected]
Tel: (604) 493-2058
Neither 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
release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release
constitute forward-looking information. In making the forward -looking disclosures in this release,
the Company has applied certain factors and assumptions that are based on the Company’s current
beliefs as well as assumptions made by and information currently available to the
Company. Forward-looking information in the release includes the prospectivity of future exploration
work and corporate development work and the receipt of necessary authorizations and approvals .
Although the Company considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the forward-looking information in this release is
subject to numerous risks, uncertainties and other fac tors that may cause future results to differ
Suite 1780 – 555 Hastings Street 604-493-2058
Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
materially from those expressed or implied in such forward -looking information. Such risk factors
include, among others, that actual results of the Company’s exploration activities will be different
than those expected by management, that the Company will be unable to obtain or will experience
delays in obtaining any required authorizations and approvals and the state of equity and
commodity markets. Readers are cautioned not to place undue reliance on forward -looking
statements. The Company does not intend , and expressly disclaims any intention or obligation to,
update or revise any forward -looking statements whether as a result of new information, future
events or otherwise, except as required by law.