Telson Announces Management Changes and Resignation of Board Member
Telson Mining Corporation
TSX.V: TSN OTC Pink: SOHFF
Frankfurt: TSGN.F
Shares Issued: 159,037,594
Page 1 of 3
Telson Announces Management Changes and Resignation of Board
Member
Vancouver, British Columbia, February 18, 2020
Telson Mining Corporation (“ Telson” or the “ Company” (TSX Venture Exchange -TSN, OTC Pink -SOHFF,
Frankfurt-TSGN (formerly SQ82)) wishes to inform shareholders that for personal reasons, José Antonio
Berlanga has resigned his positions as Chief Executive Officer and Member of the Board of Directors of the
Company. Telson wishes to thank Senor Berlanga for his past services and dedication to the company
wishing him well as he chooses to initially spend more time with his family and subsequently in his future
business endeavors.
Telson's Board of Directors, having accepted Senor Berlanga's resignation, has appointed Mr. Ralph
Shearing, P.Geol as interim Chief Executive Officer of the company. Mr. Shearing is a professional geologist
and co -founder of Telson Mining Corporation and has had a long his tory with the company , being
responsible for the successful exploration of the company's Tahuehueto gold project that led to the
publication of a robust pre -feasibility study and decision by the company's management to initiate the
construction of a 1 ,000 tonne per day underground gold mine. Mr. Shearing is also highly qualified as a
senior executive of a Canadian public company, having over 33 years of experience in senior management
positions in Canadian public markets.
Mr. Ralph Shearing states, “I am h appy to once again accept the role as Telson’s CEO on an interim basis
as the Company continues production at its Campo Morado base metal mine and works with its current
lenders and future funders to arrange the final funding required to complete construct ion of its
Tahuehueto gold mine where construction has advanced to an estimated 70% completion.”
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold, silver
and base metal mining projects.
Telson's Tahuehueto mining project, located in north -western Durango State, Mexico is currently under
construction having advanced to approximately 70% completion and waiting for final funding to finish
construction of the processing plant and rel ated assets to produce gold, silver, lead and zinc in
concentrates within its own on -site mineral processing facility, with a designed capacity of at least 1,000
Telson Mining Corporation
TSX.V: TSN OTC Pink: SOHFF
Frankfurt: TSGN.F
Shares Issued: 159,037,594
Page 2 of 3
tonnes per day. The Company is targeting completion of construction during 2020, six to eight months
after securing final funding.
Campo Morado is a polymetallic base metal mine with mining and milling equipment capable of producing
up to 2,500 tonnes per day. Four months after purchasing Campo Morado, Telson brought the mine back
into operation initiating preproduction in October 2017 and declared commercial production in May 2018,
operating the mine continuously for 22 months until August 2019 when the project was put on care and
maintenance as a result of declining zinc prices and community issues. With improving current conditions
Telson just brought the mine out of care and maintenance and reinitiated mining and milling operations
during January 2020.
Qualified Persons
This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President
and Director of Telson Mining Corporation, a Professional Geologist registered in Alberta as a member of
the professional association APEGA, and a Qualified Person as defined by NI 43-101.
Visit: www.telsonmining.com
On Behalf of the Board of Directors
(signed) “Ralph Shearing”
Ralph Shearing, President and Director
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Telson declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves
demonstrating economic and technical viability. Accordingly, readers should be cautioned that Telson’s production decision has been
made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic
results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study was c ompleted
and relied upon to make a production decision. Telson has completed a preliminary economic assessment (“PEA”) mining study on the
Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified
mineral resources (see News Release dated November 8, 2017 and April 4,2018).
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements”
(collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities laws. Forward Looking Information
includes, but is not limited to, disclosure regarding the planned recommencement of mining operations at Campo Morado; the ability to
recommence outstan ding payments to Nyrstar; and other possible events, conditions or financial performance that are based on
assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties,
such as p roduction rates and increases; success of exploration, development and bulk sample processing activities, and timing for
processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward -Looking Information can be
identified by the use of words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “ant icipates” or
variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several
material assumptions, including, but not limited to, that the current exploration, development, environmental and other objec tives
concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that recommencement of operations at Campo Morado
Telson Mining Corporation
TSX.V: TSN OTC Pink: SOHFF
Frankfurt: TSGN.F
Shares Issued: 159,037,594
Page 3 of 3
will proceed as planned; that discussions with Nyrstar and the abeyance of any potential default proceedings will be completed in a timely
manner and on reasonable terms, the continuity of the price of gold and other metals, economic and political conditions and operations.
Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any future results, performance or achievements expressed
or implied by the Forward-Looking Information. There can be no assurance that Forward -Looking Information will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on Forward -Looking Information. Except as required by law, the Company does not assume any obligation to release
publicly any revisions to Forward -Looking Information contained in this news release to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Vent ure Exchange)
accepts responsibility for the adequacy or accuracy of this release.
For further information about Telson Mining Corporation, please contact:
Glen Sandwell
Corporate Communications Manager
Tel: +1 (604) 684-8071