Kincora strengthens board and completes transition
800–1199 West Hastings Street, Vancouver, BC V6E 3T5 Phone +1 604 283 1722 Fax +1 888 241 5996
Kincora strengthens board and completes
transition
• Cameron McRae appointed as Chairman
• Cameron continues a 4 year involvement – previously advisor to the Board
• Anthony Jackson stands down from the Board, remains as CFO
Vancouver, BC — August 13th, 2018
Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce that Mr.
Cameron McRae has joined as Chairman of the Board of Directors, with Mr. Anthony Jackson
standing down from the Board and remaining Chief Financial Officer.
Cameron has been resident in Mongolia since 2010, when he came as President and CEO of Oyu
Tolgoi (2010-13) and directed the business through construction and into operations. He was
also Rio Tinto’s Country director for Mongolia during this period.
Kincora’s recent corporate transition phase has now concluded. An experienced board and
senior team, with complementary skill sets, will support the next leg of the Company’s
exploration and expansion strategy. The members of the Board and Technical Committee have
over 40 years relevant operating experience in Mongolia, over 150 years specific sector
experience, with two board members based in Mongolia. Further details on Mr. McRae, the
Board and Technical Committee are included in the Appendix.
"We are very pleased to welcome Cameron as our new Chairman. For the majority of the
period post being President of Oyu Tolgoi, Cameron been a Board Advisor to Kincora assisting
with stakeholder relations, strategic direction and operations. He has a strong track record of
adding value for Kincora shareholders, and other stakeholders in businesses he has previously
lead,” said Kincora’s President & CEO, Sam Spring. “Re-joining in this expanded capacity will
only further strengthen our business with a senior, experienced and hands on chairman”.
“Cameron’s appointment is the last major step in the recent shareholder and board transition
process. Kincora is now in the strongest position to accelerate exploration activities in the
Southern Gobi copper-gold belt where we hold the dominant license portfolio, as well as
pursue further countercyclical expansion opportunities.
We look forward to shortly providing updates on our exploration progress and plans”.
Cameron McRae commented: “I am very pleased to join the Kincora board and continuing to
work with the strong team in place. We enjoy significant support from our investors and we
will remain focused on genuinely adding value from both an exploration perspective and
sensible positioning of the company.”
800–1199 West Hastings Street, Vancouver, BC V6E 3T5 Phone +1 604 283 1722 Fax +1 888 241 5996
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APPENDIX
Board and Technical Committee
Members Key Roles (Since)
Cameron McRae Independent Chairman
(Aug’18 – Advisor to Kincora Board 2014-17)
Sam Spring President & CEO, Executive Director, Member of Technical Committee
(Apr’13)
John Holliday Independent Non-Executive Director, Technical Committee Chair
(Feb’17, Nov’16)
Ray Nadarajah Independent Non-Executive Director
(May’18)
Lewis Marks Independent Non-Executive Director
(Jul’18)
Peter Leaman Senior VP of Exploration, Member of Technical Committee
(Nov’16)
Mr. Cameron McRae
Independent Chairman
Mr. McRae has led the full mining development cycle in four countries and across three
continents. Cameron served a 28-year career with Rio Tinto, and in Mongolia was President of
Oyu Tolgoi LLC and Rio Tinto’s country director. In that role he led the construction and start-
up of the then US$6 billion Oyu Tolgoi copper-gold mine, located in the Southern Gobi, ahead of
schedule, which at the peak of construction had over 15,000 people employed on site.
Mr. McRae has led successful greenfield and brownfield construction projects, overarching
business transformations and business improvement projects. At the corporate level, he has
deep commercial/M&A experience and sat on a number of exploration and technical
committees, including Oyu Tolgoi. Prior to Oyu Tolgoi, Cameron was CEO of Richards Bay
Minerals in South Africa, Managing Director of Murowa Diamonds in Zimbabwe and Project
Director for the Hail Creek Coking Coal Expansion project in Australia. Prior to 2004, Cameron
held commercial and project leadership roles, both at Corporate and Business Unit levels. In
1995, he was a key team member responsible for the A$29 billion merger of CRA and RTZ into
the dual listed Rio Tinto (which was the world’s largest merger at the time).
Mr. McRae has been based in Mongolia since late 2010, is an independent non-executive
director of Erdene Resource Development and founder of Tarva Investment & Advisory, a
broad-based consultancy firm. Tarva has advised both public and private sector clients in
Mongolia and in the region. Cameron is active in Mongolian public life, as an executive director
of the Business Council of Mongolia, as a trustee of the Arts Council and founder of the Institute
of National Strategy. Cameron was schooled in Australia and Africa and holds a commercial
degree and an MBA (Monash University).
800–1199 West Hastings Street, Vancouver, BC V6E 3T5 Phone +1 604 283 1722 Fax +1 888 241 5996
Concurrent with the appointment of Mr. McRae to the Board, Mr. Jackson has stepped down as
a non-executive director remaining CFO, the latter a role he has filled for Kincora since
September 2014. The Company thanks Mr. Jackson for his brief time on the Board.
The Company will grant to Mr. McRae options to purchase up to an aggregate of 125,000
common shares each exercisable on or before August 9th, 2020 at a price of $0.20 per share.
Mr. McRae is an existing 1.7% shareholder in Kincora, having been an investor in the Company’s
2014 and 2016 non-brokered private placements.
About Kincora
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral
properties, with a focus on Tier 1 copper-gold projects in Mongolia.
For further information, please contact:
Sam Spring, President and Chief Executive Officer
[email protected] or +61431 329 345
www.kincoracopper.com
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 release.