The Passing of CEO John Shanahan of Sandfire Resources America Inc.
The Passing of CEO John Shanahan of Sandfire Resources America Inc.
WHITE SULPHUR SPRINGS, Mont., June 11, 2018 -- It is with great sadness and deep regret that Sandfire Resources
America Inc. (“Sandfire America” or the “Company”) announces the sudden passing of our CEO, John G. Shanahan. We
extend our deepest condolences to Mr. Shanahan’s family and our tremendous gratitude for his outstanding leadership and
enormous contribution, both to the mining industry worldwide and to Sandfire America.
Sandfire America’s Chairman, Mr. Matthew Fitzgerald, said: “John was both well respected and well liked within Sandfire and
the wider mining industry. His sudden passing is a great shock and a tragic loss, and our thoughts are with his family at this
distressing time.”
Mr. Shanahan has been the CEO of Sandfire America since June of 2016. Under his stewardship, the Company made
significant strides in progressing its showcase underground copper mine project in Montana. He was widely recognized as a
leader with a passion for working safely, protecting his employees and protecting the environment. Mr. Shanahan was also an
active director of the Montana Mining Association. Before joining Sandfire Mr. Shanahan was President & CEO of the Revett
Mining Company, Inc. (2008 to 2015) and enjoyed a lengthy and distinguished professional career in mining (including with
CRA Limited) and in mine finance and commodity trading in New York City with companies such as Rothschild Inc., and
Barclays PLC.
Mr. Rob Scargill has been appointed the interim Chief Executive Officer of Sandfire America. Mr. Scargill is an internationally
experienced mining engineer responsible for the strategy, development and operation of a number of underground mines. He
has previously held CEO roles in public companies in both Canada and Australia.
Contact Information:
Sandfire Resources America Inc.
Nancy Schlepp, VP of Communications
Mobile: 406-224-8180
Office: 406-547-3466
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this document constitute “forward looking
information” within the meaning of Canadian securities legislation, including statements regarding the Company’s proposed
name change and plans for advancing the Black Butte Copper Project, and expected outcomes. In making these forward-
looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable,
including that the Company will receive required regulatory approvals for the proposed name change, that the Company will
continue to be able to access sufficient funding to execute its plans, that the Company’s plans for tailings and water
management will be implemented as expected and will have the intended benefits and that the results of exploration and
development activities are consistent with management’s expectations. However, the forward-looking statements in this
document are subject to numerous risks, uncertainties and other factors, including factors relating to the Company’s operation
as a mineral exploration and development company and the Black Butte Copper Project, that may cause future results to
differ materially from those expressed or implied in such forward-looking statements, including that the Company will not
receive required regulatory approvals for the proposed name change when expected or at all, that results of exploration and
development activities will not be consistent with management’s expectations, delays in obtaining or inability to obtain required
government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the
risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions,
ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining
facilities and the operation of a producing mine. 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. Readers are cautioned
not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any
intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events
or otherwise, except as required by law.
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.