Moneta Welcomes Sheila Colman to its Board of Directors
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NEWS RELEASE – 25/2022 Symbol: TSX: ME FOR IMMEDIATE RELEASE
Moneta Welcomes Sheila Colman to its Board of Directors
Toronto, Ontario – December 14, 2022 - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP)
(“Moneta” or the “Company”) is pleased to announce it has appointed Ms. Sheila Colman to its Board of
Directors (“Board”), effective December 7, 2022.
“I am delighted to welcome Sheila to our Board. We are confident that she will provide valuable
perspectives as we continue to execute on our strategy and deliver value to our stakeholders,” stated
Josef Vejvoda, Moneta’s Chair of the Board. “Sheila brings decades of experience in the mining industry,
in addition to valuable knowledge regarding legal, governance and strategic oversight. We look forward
to welcoming her as an integral member of our Board to support the business as it continues to grow and
enhance its commitment to governance and Environmental, Social, and Governance (“ESG”) themes.”
The appointment follows other recent additions to the Board, highlighting the Company’s commitment
to advancing its 100% wholly owned Tower Gold project, located in the Timmins region of Northeastern
Ontario. Moneta’s Board is now comprised of nine members, of which eight members are considered
independent: Mark Ashcroft, Sheila Colman, Rodney Cooper, Louis Gariepy, Alex Henry, Krista Muhr, Josef
Vejvoda (Chair of the Board), and Blair Zaritsky, with Jose Vizquerra continuing to act as a special advisor
to the Board.
About Sheila Colman
Sheila currently serves as Vice President, Legal and Corporate Secretary of Lundin Gold Inc ., working
closely with the Directors and the CEO to provide oversight of the governance, legal and compliance risks
of the business . Sheila has been working with the Lund in Group of Companies since 2006 and now, in
addition to legal and governance, she co-leads on key ESG matters including climate strategy and Equity,
Diversity, and Inclusion/Inclusivity (“EDI”) programs and initiatives. Prior to Lundin Gold, she served a s
Vice President and Corporate Secretary of Denison Mines Corp.
Sheila graduated from Queen's University with a B.A.(H) and then received her LL.B. from Queen's
University. She is a member of both the British Columbia and Ontario Bars and has a Global Competent
Boards designation (GCB.D) from Competent Boards.
About Moneta Gold
Moneta is a Canadian -based gold exploration company focused on advancing its 100% wholly owned Tower Gold
project, located in the Timmins region of Northeastern Ontario, Canada’s most prolific gold producing camp. The
September 2022, Preliminary Econo mic Assessment study outlined a combined open pit and underground mining
and a 7.0 million tonne per annum conventional leach/CIL operation over a 24 -year mine life, with 4.6 Moz of
recovered gold, generating an after -tax NPV5% of $1,066M, IRR of 31.7%, an d a 2.6 -year payback at a gold price
US$1,600/oz. Tower Gold hosts an estimated gold mineral resource of 4.5 Moz indicated and 8.3 Moz inferred.
Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on th e
current resource upgrade drilling program, while conducting all business activities in an environmentally and socially
responsible manner.
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FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O’Connor, CEO
416-357-3319
Linda Armstrong, Investor Relations
647-456-9223
The Company’s public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at
www.monetagold.com or email us at [email protected].
Certain statements in this press release including certain information about Moneta’s business outlook, objectives, strategie s,
plans, strategic priorities and results of operations, as well as other statements which a re not current statements or historical
facts, constitute “forward -looking information” or “forward -looking statements” (collectively “forward -looking statements”)
within the meaning of applicable Canadian securities laws. All statements, other than statem ents of historical fact, that address
activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (without
limitation, statements regarding exploration programs, potential mineralization, future plan s and objectives of the Company,
updated to the mineral resources, and the timing and results thereof) are forward -looking statements. Sentences and phrases
containing words such as “believe”, “estimate”, “anticipate”, “plan”, “will”, “intend”, “predict”, “outlook”, “goal”, “target”,
“forecast”, “project”, “scheduled”, “proposed”, “expect”, “potential”, “strategy”, and the negative of any of these words, or
variations of them, or comparable terminology that does not relate strictly to current or historical facts, are all indicative of
forward-looking statements. These forward- looking statements reflect the current expectations or beliefs of the Company based
on information currently available to the Company.
Forward-looking statements are subject to inherent risks and uncertainties, and are based on several assumptions, both general
and specific, which give rise to the possibility that actual results or events could differ materially from Moneta’s expectat ions
expressed in or implied by such forward -looking statements and that Moneta’s business outlook, objectives, plans and strategic
priorities may not be achieved. These statements are not guarantees of future performance or events, and Moneta cautions you
against relying on any of these forward-looking statements. Forward-looking statements are provided in this press release for the
purpose of assisting investors and others in understanding Moneta’s objectives, strategic priorities and business outlook, an d in
obtaining a better understanding of Moneta’s ant icipated operating environment. Readers are cautioned that such information
may not be appropriate for other purposes. Examples of forward -looking statements in this press release include, but are not
limited to: information with respect to the future perf ormance of the business, its operations and financial performance and
condition; statements relating to Moneta’s plans for the Project; the Corporation’s drilling program and the timing and resul ts
thereof; the timing and scope and focus of the Corporation’s pre-feasibility study (“PFS”); statements regarding the environmental
impact assessment and community engagement activities; and the Corporation’s financing initiatives.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company
to differ materially from those discussed in the forward -looking statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have the expected con sequences to, or effects on the Company.
Important risk factors that could cause actual results or events to differ materially from those expressed in, or implied by, the
forward-looking statements contained in this press release include, but are not limited to: uncertainties relating to the availability
and costs of financing needed in the future; changes in commodity prices; changes in equity markets; changes to regulations
affecting the Company’s activities; the uncertainties involved in interpreting exploration results and other geological data and the
other risks involved in the mineral exploration industry; the impact of COVID-19 related disruptions in relation to the Corporation's
business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have
arisen and may arise in relation to travel, and other financial market and social impacts from COVID -19 and responses to COVID
19 and the ability of the Corporation to finance and carry out its anticipated goals and objectives; international conflicts and other
geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led to, and may
in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains; and the impact of
Russia’s invasion of Ukraine and the widespread international condemnation has had a significant destabilizing effect on worl d
commodity prices, supply chains, inflation risk, and global economies more broadly, may adversely affect the Corporation's
business, financial condition, and results of operations. Additional risks and uncertainties not currently known to Moneta or that
Moneta currently deems to be immaterial may also have a mater ial adverse effect on Moneta’s financial position, financial
performance, cash flows, business or reputation.
Forward-looking statements made in this press release are based on a number of assumptions that Moneta believed were
reasonable at the time it made each forward-looking statement. The assumptions, although considered reasonable by Moneta on
the day it made the forward-looking statements, may prove to be inaccurate. Accordingly, our actual results could differ materially
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from our expectations. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of
the date on which it is ma de and, except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due
to the inherent uncertainty therein.