Medallion Resources Appoints Gabriel Alonso-Mendoza as Interim CEO
Medallion Resources Appoints Gabriel Alonso-Mendoza as Interim CEO
VANCOUVER, British Columbia, Aug. 28, 2023 -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt:
MRDN) – “Medallion” or the “Company”) announced today the appointment of Mr. Gabriel Alonso-Mendoza as Interim
Chief Executive Officer. Based in New York City, Mr. Alonso-Mendoza is the founder and managing partner of Amvest Capital
Inc., a specialist investment management and corporate finance firm focused solely on the natural resources sector. He brings
15 years of financial and resource markets experience.
The Company also announced the resignations of Mr. Alfredo Ramos Plasencia as Chief Executive Officer and Director and
Dr. Kurt Forrester as Chief Technical Officer and Director. Both Mr. Ramos and Dr. Forrester will remain available to Medallion
in advisory roles.
Mr. Ramos and Dr. Forrester have been instrumental in advancing the Company's displacement chromatography technology
developed by Purdue University. Medallion holds exclusive, worldwide rights to use the patented methodology for the
separation of rare earths and other minerals from raw materials other than coal by-products, coal waste and acid mine
drainage, and wastes and recyclates from battery and magnet sources.
Medallion’s vision is to power the energy transition through innovation in critical minerals. The Company aims to become an
owner-operator of critical mineral processing facilities in partnership with upstream feedstock and downstream offtake partners.
By leveraging innovative extraction technologies and building a resilient supply chain, Medallion seeks to ensure reliable
access to critical minerals while meeting the highest environmental standards.
Mr. Alonso-Mendoza commented, “I’m honored to take on this leadership role in Medallion at such a pivotal moment in the
Company’s history. On behalf of the Board of Directors, we extend our thanks to Alfredo and Kurt for their valuable technical
and commercial contributions to Medallion’s growth and development. I look forward to working closely with the Board and our
dedicated team to build on the Medallion’s impressive foundation.”
ABOUT MEDALLION RESOURCES LTD.
Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has exclusively licensed patented displacement
chromatography methodologies developed by Purdue University from Purdue Research Foundation to separate minerals,
including rare earth elements from all raw material feedstocks excluding coal sources and excluding recycled materials from
manufacturing wastes and recyclates from battery and magnet sources. Separately, Medallion has developed a proprietary
process and related business model to achieve low-cost extraction of rare earth elements from monazite, a phosphate mineral
that is a common byproduct of heavy mineral sand operations.
REEs are critical inputs to electric and hybrid vehicles, robotics, 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 the Life Cycle
Assessment methodology to support investment and process decision-making.
More about Medallion can be found at www.mdl-innovations.com.
Contacts
Gabriel Alonso-Mendoza , Interim CEO
+1 212 970 1963 | [email protected]
Douglas Newby, CFO
+1 212 867 1834 | [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 the content of and has prepared this news release. Some of the
statements contained in this release are forward-looking statements, such as statements regarding the commercialization of
its technologies and opportunities for expansion of the technology portfolio in the future, and any statements that describe
Medallion’s plans with respect to general strategic matters and the advancement of its business plan, and Medallion’s ability to
advance and commercialize its technology platforms and negotiate commercial agreements with third parties.
Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes,"
"intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events,
conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words.
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.