Lavras Gold Corp. Announces Leadership Transition Hemdat Sawh Appointed Interim President & CEO - Search Underway to Identify Successor President & CEO
Lavras Gold Corp. Announces Leadership
Transition Hemdat Sawh Appointed Interim
President & CEO - Search Underway to Identify
Successor President & CEO
Toronto, Ontario--(Newsfile Corp. - October 31, 2025) -
Lavras Gold Corp. (TSXV: LGC) (OTCQX:
LGCFF)
("
Lavras Gold
" or the "
Compan
y") today announced that the Company's Board of Directors
(the "
Board
") has appointed Hemdat Sawh as Interim President and Chief Executive Officer (CEO),
effective immediately, following the departure of Michael Durose as President, Chief Executive Officer
(CEO) and Director of the Company. Michael Durose is stepping down after serving in these roles since
April 2022.
Hemdat Sawh is currently Lavras Gold's Chief Financial Officer (CFO) and will remain in this position
while carrying out his new role. He is a seasoned mining finance executive and has served as Lavras
Gold's CFO since its inception. Previously, Mr. Sawh was the CFO of Amarillo Gold Corporation
("
Amarillo
") from November 2017 to its acquisition by Hochschild Mining PLC in April 2022. The
Nominating and Governance Committee of the Board, chaired by David Birkett, will embark on a
process to identify a permanent President and CEO.
In his role as Interim President and CEO, Mr. Sawh will be assisted by Board members, Jonathan Hill
and Mike Mutchler who will fill the roles of Interim Vice President of Exploration and Interim Chief
Operating Officer, respectively. Mr. Hill, who is based in Brazil, is an economic geologist and specialist
consultant with over 35 years of experience in exploration, project development, and mining operations
around the world. Mr. Hill, who was formerly V.P. Geology and Exploration at Jaguar Mining Inc., is a non-
executive director of Royal Road Minerals, Avanti Gold Corp., Lode Gold and Spark Energy Minerals.
Mr. Mutchler is a fifth-generation miner, and a corporate director at Orvana Minerals Corp. and a mining
consultant. Previously, he served as President, CEO, and a Director of Amarillo from January 2018 to its
acquisition in 2022 and held various prior senior management and consulting roles in the mining
industry. The restructured management team intends to focus on transitioning the Company's LDS
Project from its current advanced exploration stage to the development stage. The team will continue to
de-risk the project via environmental studies, permitting, and in-fill drilling which will create an updated
technical report and resource estimate. These efforts will form the basis of a Preliminary Economic
Assessment (PEA) to evaluate the potential economic viability of the Company's district scale LDS
Project assets.
Rowland Uloth, Chairman, Chairman of the Board, said: "On behalf of the Board, I want to thank Mike for
his leadership of Lavras Gold. During his tenure, Mike strengthened our Company and helped advance
Lavras Gold's LDS Project to its current pre-development stage. As a result, the Company is well
positioned for the next phase of growth and value creation for all shareholders."
Jonathan Hill, Director and Interim Vice President of Exploration for Lavras Gold Corp., is the "Qualified
Person" as defined under National Instrument 43-101,
Standards of Disclosure for Mineral Projects,
and has reviewed and approved the technical information contained in this release.
About Lavras Gold Corp.
Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) is a Canadian exploration company focused on
realizing the potential of its LDS Project situated in a highly prospective gold district in southern Brazil.
The LDS Project is located near the town of Lavras do Sul in Rio Grande do Sul, in Rio Grande do Sul
State of Brazil and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 24
gold prospects centred on historic gold workings have been identified on the LDS Project properties,
which span more than 23,000 hectares. Follow Lavras Gold on
www.lavrasgold.com
, as well as on
,
, and
YouTube
.
On Behalf of Lavras Gold Corp.
"
Hemdat Sawh
"
Interim President & CEO
For further information, please visit the Lavras Gold Corp. website at
www.lavrasgold.com
, or contact:
Hemdat Sawh, President & CEO
or
Naomi Nemeth, VP Investor Relations
Phone: +1-289-624-1343 or +1-289-624-1377
Email:
Website:
www.lavrasgold.com
X (Twitter):
@LavrasGold
LinkedIn:
https://www.linkedin.com/company/lavras-gold-corp
Disclaimer:
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.
Forward-looking statements:
This news release includes certain "forward-looking information" within
the meaning of Canadian securities legislation and "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward-looking
statements"). Forward-looking statements include predictions, projections and forecasts and are often,
but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate",
"forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements
that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar
expressions and includes the negatives thereof. All statements other than statements of historical fact
included in this release, are forward-looking statements that involve various risks and uncertainties,
including regarding the Company's plans to hire a successor President and CEO and related matters,
and regarding plans to carry out work, complete a technical report and a PEA. There can be no
assurance that such statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements are based on
a number of material factors and assumptions. Important factors that could cause actual results to
differ materially from Company's expectations include actual exploration results, changes in project
parameters as plans continue to be refined, results of future resource estimates, future metal prices,
availability of capital and financing on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials
and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving
government approvals, unanticipated environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein and from time to time in the filings made by
the Company with securities regulators. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ from those described in forward-
looking statements, there may be other factors that cause such actions, events or results to differ
materially from those anticipated. There can be no assurance that forward-looking statements will
prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-
looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/272685