Lavras Gold announces leadership changes
News release 2022-3
NEWS RELEASE 2022-3: Lavras Gold announces leadership changes 1
Lavras Gold announces leadership changes
TORONTO, ONTARIO – April 21, 2022 – Lavras Gold Corp. (TSXV: LGC) has appointed
Michael Durose as President, Chief Executive Officer, and Director of the Company.
A Professional Geologist (P.Geo) with a Master of Science in Mineral Economics
from Queen’s University in Kingston, Ontario, Mr. Durose is a highly-ranked
financial analyst who has worked in the capital markets for more than 25 years.
Founder and CEO of Durose Asset Management Inc., he previously held
increasingly senior positions as a well-regarded mining analyst with Scotia Capital
Inc., Morgan Stanley, Bunting Warburg, and Nesbitt Burns. He has travelled
extensively to visit mining and exploration projects all over the world. Before
joining the capital markets, Mr. Durose worked as an exploration geologist in the
Canadian base metal and gold industries.
“We are delighted to have Mr. Durose on board in this new capacity,” said Rowland
Uloth, Chairman of Lavras Gold. “He has a long history with the Lavras Gold Project,
having served as a director of Amarillo Gold Corporation from 2009 to 2014, and
most recently as the Company’s consulting geologist and Qualified Person (QP). In
that role, Mr. Durose led exploration programs at Amarillo’s Mara Rosa Project,
overseeing the discovery of Pastinho, the first satellite gold deposit on the
property. At Lavras, he oversaw the updated resource estimate for the Butiá
prospect, and successful drilling programs at the Matilde prospect.”
In conjunction with Mr. Durose’s appointment, Mike Mutchler has retired,
resigning as President and Chief Executive Officer. He will remain a director of
Lavras Gold.
“Mr. Durose is an experienced exploration geologist who is ideally suited to unlock
the value of the Lavras Gold Project,” said Mike Mutchler. “He has my full support in
this new role, and I will remain available to assist should the need arise.”
“On behalf of the board, I’d like to thank Mr. Mutchler for his hard work as
Amarillo’s CEO and for developing the Posse Gold Project,” said Uloth.
Antenor Silva, a director, has also resigned from the board to pursue new
opportunities. Lavras Gold’s board of directors now consists of Rowland Uloth
(Chairman), David Birkett, Michael Durose (President and CEO), David Laing,
Lawrence Lepard, Mike Mutchler, and Rostislav Raykov.
The board of directors has awarded 15 million options at $0.05 to the directors and
officers of the company. The options for the directors vest immediately, while
options for the officers have a three-year vesting period. All expire five years from
the grant date.
News release 2022-3
NEWS RELEASE 2022-3: Lavras Gold announces leadership changes 2
About Lavras Gold
Lavras Gold (TSXV: LGC) is a junior exploration company engaged in the
exploration and development of the Lavras do Sul gold project located in the state
of Rio Grande do Sul, Brazil. The Lavras do Sul gold project is an advanced
exploration stage property that is approximately 190 square km in size and
comprised of more than 23 prospects centered on historic gold workings.
Lavras Gold’s vision is to be a leading independent exploration and production
company in Brazil, maximizing shareholder value by bringing its disciplined
exploration approach to the Lavras do Sul gold project and other potential
opportunities.
Contact information
Michael Durose Annemarie Brissenden
President & CEO Investor Relations
416-844-6284 416-844-6248
[email protected] [email protected]
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