Discovery Announces Appointment of Anthony Esplin as Chief Operating Officer
Discovery Announces Appointment of Anthony Esplin
as Chief Operating Officer
March 14, 2022, Toronto, Ontario - Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF)
(“Discovery” or the “Company”) is pleased to announce the appointment of Anthony (Tony)
Esplin as Chief Operating Officer of the Company.
Mr. Esplin has more than 30 years of experience in the mining industry including over two
decades of executive and senior management roles at Tier 1 operations with Newmont
Corporation (“Newmont”) and Barrick Gold Corporation (“Barrick”) . Mr. Esplin has a
demonstrated track record in developing and operating large-scale mining projects across
multiple jurisdictions including Latin America.
Taj Singh, President and CEO, states: “Tony has managed some of the industry’s largest and
most profitable mines and has an established reputation for delivering large-scale mine builds
and capital projects on time and on budget. In addition, he also has a proven history of
establishing positive working relati onships with community and government stakeholders,
employees and business partners.
“During his extensive career Tony has predominantly worked at Tier 1 open pit mines ; this
provides a strong endorsement of Cordero’s asset quality and also represents an ideal fit with
our plans to advance the project through to a construction decision and beyond in the coming
years.”
Most recently Mr. Esplin was Executive Managing Director of Barrick Nuigini Ltd., a joint
venture between Barrick and Zijin Mining Group that operates the Porgera Gold Mine, an open
pit/underground operation in Papua New Guinea. In this role he was responsible for managing
all aspects of the joint venture, including the consultation and negotiation process with
stakeholders to extend the Special Mining License.
Prior to this, Mr. Esplin was General Manager of Newmont’s Merian Mine from 2016 – 2017.
In this role Mr. Esplin successfully managed the budgeted US$800 M mine build completion
and ramp-up to commercial production, on time and under budget. Merian is an open pit mine
in Suriname with a 12 million tpa CIL process plant that produces +400,000 oz of gold on an
annual basis.
Mr. Esplin was also General Manager for the Batu Hijau Mine from 2014 – 2016, a large open
pit copper-gold operation in Indonesia. Batu Hijau at that time was producing approximately
750,000 tonnes of copper/gold concentrate (+500,000 oz of gold) annually via a flotation
processing with a throughput rate of 40 million tpa. The operation was a joint venture between
Newmont, Sumitomo Corporation (“Sumitomo”) and various Indonesian entities.
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Earlier in his career, Mr. Esplin was General Manager Operations at the Yanacocha Mine in
Peru, one of the largest gold operations globally , from 2009 – 2011, and played a significant
role in Yanacocha’s development over the decade prior. Yanacocha at that time was jointly
owned by Newmont, Compañí a de Minas Buenaventura and the International Finance
Corporation. Mr. Esplin was also General Manager at the Newmont’s Boddington Gold Mine,
one of Australia’s largest gold and copper producers, from 2011 – 2013, and the Jundee Gold
Mine in Western Australia from 2013 – 2014.
Mr. Esplin is an Australian citizen who has lived and worked in Latin America for more than a
decade over the course of his career and is fluent in Spanish.
The Company granted Mr. Esplin 1,000,000 incentive stock options (“Options”) on March 11,
2022, the date of Mr. Esplin’s engagement by the Company, at an exercise price of C$1.93 per
share. The Options have a five-year expiry and will vest annually in three equal tranches, with
the first tranche exercisable on the first anniversary of the grant date. Mr. Esplin will commence
working for the Company on April 4, 2022.
The Company has also agreed to grant Mr. Esplin 250,000 restricted share units (“RSUs”) ,
each of which are redeemable for one Discovery common share, or a cash payment in lieu
thereof, or a combination of cash and shares. One-half of the RSUs will be redeemable on the
issue date, April 4, 2022, and the remaining one-half will be redeemable on the first anniversary
of the issue date.
About Discovery
Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver
deposits. The PEA completed in November 2021 demonstrates that Cordero has the potential
to be developed into a highly capital efficient mine that offers the combination of margin, size
and scalability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua
State, Mexico. Continued exploration and project development at Cordero is supported by a
strong balance sheet with cash of approximately C$70 million.
On Behalf of the Board of Directors,
Taj Singh, M.Eng, P.Eng, CPA
President, Chief Executive Officer and Director
For further information contact:
Forbes Gemmell, CFA
VP Corporate Development
Phone: 416-613-9410
Email: [email protected]
Website: www.discoverysilver.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not for distribution to United States newswire services or for dissemination in the United States.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United
States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account
or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable
state securities laws, or an exemption from such registration requirements is available.
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward- looking statements that are subject to inherent risks and uncertainties. All statements
within this news release, other than statements of historical fact, are to be considered forward looking statements. Forward-looking
statements including, but not limited to Discovery’s future plans and objectives regarding the Cordero Project and the prospect of
further discoveries there, which constitute forward looking information that involve various risks and uncertainties . Although
Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially from those
described in forward- looking statements. Factors that could cause actual results to differ materially from those described in
forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and
financing, and general economic, market or business conditions. There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume
any obligation to update any forward-looking statements except as required under applicable laws.