Medallion Resources Announces Board Changes
Medallion Resources Announces Board Changes
VANCOUVER, British Columbia, March 15, 2022 -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt:
MRDN) – “Medallion” or the “Company”) , is pleased to announce the appointment of Dr. Kurt Forrester as a director of the
Company. Mr. Daniel Mamadou has resigned as a non-executive director to pursue other engagements, and shall join
Medallion’s Advisory Board. The Company thanks Mr. Mamadou for his input and vision as a director, and wishes him
success in his future ventures.
The appointment of Dr. Forrester signals a significant strengthening in the technical capacity of the Medallion Board at a key
juncture in the Company’s growth. The Company is working to expand its exposure to the technologies essential for the
energy transition including the rare earth elements (“REE”), where Dr. Forrester holds extensive expertise and connections.
Dr. Forrester is presently Chief Technology Officer (‘CTO”) of SD Capital Advisory, a UK-based boutique financial services firm,
where he leads a technical team structuring, arranging and securing project finance for large industrial and resource projects.
During his 16-year career he has been professionally engaged as an engineering consultant in the metals and minerals,
environmental and applied research domains. This has included process and technology development, feasibility assessment
(PEA, PFS, BFS) as well as detailed design (EPCM). He has broad experience across commodities and technologies
including in base metals, rare earth elements and industrial minerals. A graduate of the University of Sydney (2001) with a
BEng (Hon 1st) in Chemical Engineering and more recently with a PhD in Engineering (2007) he is also a Chartered Chemical
Engineer and Chartered Professional Metallurgist.
“Having worked with Kurt on a range of engagements over the past decade, I am particularly pleased to welcome him to the
Board,” said Mark Saxon, President and CEO. “Kurt’s knowledge of process technologies for REEs and other critical materials
is second to none, and he will deliver excellent guidance and support as we grow the business. Furthermore, I pass particular
thanks to Daniel for his input in building Medallion’s exciting future strategy, and appreciate his continued engagement via the
Advisory Board.”
Medallion continues to progress initiatives to enhance shareholder value. Positive developments in the global REE permanent
magnet and electric vehicle sectors highlight the need for accelerated investment. As previously announced, Chardan Capital
Markets LLC is advising Medallion on a US market up-listing strategy, and a concurrent financing. The Company has made
significant progress towards preparing documentation required for this initiative, however any up-listing and financing remain
subject to regulatory approvals. A US listing will significantly strengthen Medallion’s profile in the REE technology sector,
increase the capacity for US shareholders to invest in the REE and EV industries and enhance access to capital for future
investment, execution and acquisitions.
About Medallion Resources
Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related
business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a
rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore,
Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by
Medallion and sub-licensed by Medallion to third party REE producers.
REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense
systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral
transportation, processing and the safe management of waste materials. Medallion utilizes Life Cycle Assessment
methodology to support investment and process decision making.
More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com .
Contact(s):
Mark Saxon , President & CEO
+1.604.681.9558 or [email protected]
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.
Medallion management takes full responsibility for content and has prepared this news release. Some of the statements
contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with respect to
general strategic matters and the advancement of its business plan, the potential completion of an up-listing to a U.S.
exchange and related financing, and the completion of the licensing transaction with ACDC Metals Ltd. Since forward-looking
statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including
the risks related to market conditions and regulatory approval and other risks outlined in the company’s management
discussions and analysis of financial results. Actual results in each case could differ materially from those currently
anticipated in these statements. These forward-looking statements are made as of the date of this press release, and, other
than as required by applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward-
looking statements, whether as a result of new information, future events or results or otherwise, except as required pursuant
to applicable laws.