NextSource Announces Appointment of Johnny Velloza as Interim Chief Operating Officer
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NextSource Announces Appointment of Johnny Velloza
as Interim Chief Operating Officer
NEWS RELEASE – TORONTO, November 24, 2023
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or the “Company”) announces that
Mr Robin Borley has resigned as Chief Operating Officer of the Company. NextSource is pleased to announce
it has appointed Mr Johnny Velloza as Chief Operating Officer on an interim basis.
Mr. Velloza has a wealth of technical and operating experience in the mining industry spanning 30 years during
which he managed operational optimisation processes and large capital expansions across a range of
commodities and in many jurisdictions. Mr. Velloza was previously Deputy CEO and COO of Gem Diamonds
and CEO of Chemaf. Prior to this, he was with BHP Western Australia Iron Ore where, from 2013 to 2015, he
was General Manager at Mining Area C, the largest iron ore mine in the BHP portfolio, leading a number of
successful operational efficiency programs. He also acted as a Senior Exploration Manager in Zambia and in
Chile for BHP from 2011-2013, Operations Manager at AngloGold Ashanti from 2009-2010 and held numerous
managerial positions at De Beers from 2001-2009. Mr Velloza holds a Bachelor’s degree in Mining Engineering
from The University of Johannesburg and a Bachelor’s degree in Business from The University of South Africa.
President and CEO, Craig Scherba, commented:
“I am delighted Johnny has agreed to join NextSource as Chief Operating Officer where he will drive the
implemention of recommendations made to resolve process issues that have delayed bringing the plant at the
Molo mine to its nameplate capacity. I would like to thank Robin for his contributions to NextSource.”
Mr. Borl ey has also resigned as a director of the Company and will not be standing for re -election at the
upcoming NextSource shareholders' meeting. The Company wishes Mr. Borley well in his future endeavours.
ABOUT NEXTSOURCE MATERIALS INC.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent
on becoming a vertically integrated global supplier of battery materials through the mining and value -added
processing of graphite and other minerals.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest -quality graphite
resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with
Phase 1 mine operations currently being optimized to reach its nameplate production capacity of 17,000 tpa of
graphite concentrate.
The Company is also developing a significant downstream graphite value-add business through the staged
rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite
for direct delivery to battery and autom otive customers, outside of existing Asian supply chains, in a fully
transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the
OTCQB under the symbol “NSRCF".
For further information about NextSource visit our website at www.nextsourcematerials.com or contact us at
+1.416.364.4911 or email Brent Nykoliation, Executive Vice President at [email protected] or
Aura Financial [email protected].
Safe Harbour: This press release contains statements that may constitute “forward -looking information” or “forward -looking statements”
within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place un due reliance on
forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as “plan”,
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“expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or state ments that certain
events or conditions “may”, “will”, “could”, or “should” occur. Forward -looking statements include any statements regarding, among others,
timing of on -site construction including the processing plant , process improvements and mine plant adjustments as well as production
estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof. . These statements are
based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in
some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in
this press release. No assurance can be given that any of the events anticipated by the forward -looking statements will transpire or occur
or, if any of them do so, what benefits the Company will derive there from. The forward -looking statements contained in this news release
are made as at the date of this news release and the Company does not undertake any obligation to u pdate publicly or to revise any of the
forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable
securities laws. Although the forward -looking statements contained in this news relea se are based on what management believes are
reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward -looking
statements are made as of the date of this news release and are expressly quali fied in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any obligation to update or revise the forward -looking statements contained
herein to reflect events or circumstances occurring after the date of this news release.