Temas Resources Welcomes Red Lake Mining Veteran and Financier as President and CEO
Temas Resources Welcomes Red Lake Mining
Veteran and Financier as President and CEO
Temas Resources Welcomes Red Lake District Alumnus, Mr. Michael Dehn, to Lead
Management Team as President and CEO. Mr. Dehn to Advance Mineral
Exploration Efforts at Temas Resources and Identify New High-value Opportunities.
VANCOUVER, British Columbia, November 4, 2020 ― Temas Resources Corp. (“The Company”, “Temas
Resources”, CSE: TMAS, OTCQB: TMASF), a publicly traded company focused on the advancement of
mineral independence within stable, mining -friendly jurisdictions, is pleased to welcome Mr. Michael
Dehn to the position of President and CEO.
Mr. Michael Dehn brings an extensive track record working with some of the biggest names in mining,
including executive leadership at numerous publicly traded companies and work on several projects that
later went on to be acquired. Mr. Dehn’s experience spans early grassroots stages to advanced mineral
exploration and production, including his well -known expertis e in the Red Lake Greenstone Belt. Mr.
Dehn began his career as one of the most notable geologists at Goldcorp Inc. (acquired by Newmont
Corporation for $10 billion), just prior to the Red Lake High Grade Zone Discovery, working as part of
exploration teams instrumental in delivering multiple producing mines. Working with Goldcorp for 10
years, managing off mine site exploration with a team of up to 75 employees and consultants, and
annual budgets often in excess of CAN$20 million, Mr. Dehn and his team ini tiated the deep drilling at
the Cochenour Mine in Red Lake District which is now in production (later sold to Evolution Mining
Limited alongside Red Lake and Cambell mines and processing facilities for $375 million in cash, with up
to an additional $100 million if new deposits are discovered).
During his tenure at Goldcorp, Mr. Dehn was also active in the exploration at Saskatchewan Minerals
(later acquired, now Saskatchewan Mining and Minerals Inc., one of the world's leading producers of
natural high-quality sodium sulphate) and at Havelock Lime (also acquired, now part of Graymont Ltd.,
North America’s second largest supplier of lime and lime -based products). Mr. Dehn filled similar roles
consulting at Caledonia Mining Corporation when the company was ac tive in diamonds in the North
West Territories, and operating gold mines in South Africa, while developing a gold mine in Scotland. Mr.
Dehn has since gone on to fill key management roles at numerous publicly traded companies with
listings across multiple exchanges including the Toronto Stock Exchange (TSX), TSX Venture Exchange
(TSXV) owned by TMX Group Limited, Frankfurt Stock Exchange (Deutsche Börse AG), and Berlin Stock
Exchange (Börse Berlin AG).
“I’m very excited to be able to work with the strong technical and financial team at Temas Resources to
advance the flagship La Blache property, particularly in light of my past work in that area, as well as
having the opportunity to bring forward other high -value opportunities,” commented Mr. Dehn,
incoming President and CEO of Temas Resources. “The well -financed position at Temas Resources,
alongside an agile and aggressive management team, presents our stakeholders with an opportunity to
benefit from rapid identification of overlooked, high -value opportuni ties. It is the intention of Temas
Resources to bring key mineral projects to production in the most efficient timeline and with the most
effective use of capital possible.”
Mr. Dehn’s expertise in the Red Lake Greenstone Belt is well known, but less know is his abilities and
experience in industrial minerals deposits, from discovery through permitting, and metallurgy testing
through to customer acceptance. Having worked previously in t he La Blache Anorthositic intrusive he
worked closely with Process Research Ortech Inc. who have developed a process of leaching, solvent
extraction and micritization that has lead to commercially acceptable Titanium(IV) oxide (TiO 2) from
ilmenite ore for the paint and plastics industry. Mr. Dehn has also work within apatite rich Anorthosite’s
across the Grenville, rich in phosphorus for the fertilizer industry. He has permitted Fe -Ti-V rich
anorthosites, and the focus of much of his last 10 years of Quebec focused exploration and development
has been on ore bodies very similar to Temas Resources’ La Blache deposit.
Mr. Kyler Hardy, Temas Resources’ current CEO, will remain as a Director of the company. “We are very
excited to have Michael Dehn’s extensive years of experience added to ours. His track record of
advancing growth -stage companies in leadership roles is a great match for Temas Resources,”
commented Kyler Hardy. “As I step back from the role of CEO, I am confident Temas Resources will
continue to rapidly advance its critical mission of mineral independence with Mr. Dehn’s expert
guidance.”
Mr. Michael Dehn’s appointment is effective November 4th, 2020.
Temas Resources also announces that it has granted 2,250,000 stock options to purchase common
shares to the directors and management team members of Temas Resources in accordance with the
Company’s stock option plan. Each option is exercisable to purchase one common share of Temas
Resources at $0.71 per common share. 1,250,000 of the options vest immediately and have a three-year
term. 1,000,000 of the options, which were issued to Mr. Dehn, vest in equal installments on an annual
basis over a three -year term. All common share and option issuances are subject to applicable
regulatory approvals, including the Canadian Securities Exchange.
More information about Temas Resources’ board of directors, executive team and management may be
found at www.temasresources.com.
About Temas Resources
Temas Resources Corp. ("Temas Resources") (CSE: TMAS) (OTCQB: TMASF) is responding to the growing
global demand for Iron ore and two strategically important minerals — Titanium and Vanadium —
deemed by the U.S. Department of the Interior as critical to U.S. national security and the economy.
Temas Resources first and flagship properties are located in the stable, mining -friendly jurisdiction of
Quebec (Canada) bordering Vermont, Maine, and New York State (U.S.) in an area known as the
Grenville Geological Province. The Grenville Geological Province is home to Lac Tio, the largest solid
ilmenite deposit in the world. As a mineral exploration company focused on the acquisition, exploration
and development of Iron, Titanium, and Vanadium properties, Temas Resources has focused its efforts
on advancing two major projects in the Grenville Geological Province area. The first, the DAB Property, is
an option for 100% interest consisting of 128 contiguous mineral claims which cover 6,813.72 hectares
(68.14 km²) within the Grenville Geological Province. The flagship, the La Blach e Property, is 100%
ownership of 48 semi -contiguous mineral claims which cover 2,653.25 hectares (26.53 km²) within the
Grenville Geological Province. All public filings for the Company can be found on the SEDAR website
www.sedar.com. For more information about the Company, please visit www.temasresources.com.
Qualified Person
Rory Kutluoglu, B.Sc, P.Geo, is the Qualified Person as defined by NI 43 -101 who has reviewed and
approved the technical information contained within this press release.
On behalf of the Board of Directors of Temas Resources Corp.,
“Kyler Hardy”
Director
Contact: Nick Spencer, Investor Relations
Phone: +1 (604) 332-0902
Email: [email protected]
Forward Looking Statements
This news release includes certain “Forward ‐Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and “forward‐looking information ” under
applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”,
“estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words
or expressions, identify forward‐looking statements or information. These forward‐looking statements or
information relate to, among other things: entry into a d efinitive agreement for the Equity Investment
Facility, closing of the Equity Investment Facility, the Company’s plan to build an advanced base and
special metals portfolio, the development of the La Blache Property and the DAB Property, including
drilling activities; and future mineral exploration, development and production, the funding of the
Company pursuant to the Equity Investment Facility, the issuance of securities pursuant to the Equity
Investment Facility, and the resale restrictions and arrangements relating to such securities.
Forward‐looking statements and forward‐looking information relating to any future mineral production,
liquidity, enhanced value and capital markets profile of Temas Resources, future growth potential for
Temas Resources and its business, and future exploration plans are based on management’s reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management’s
experience and perception of trends, current conditions and expected developments, and other factors
that management believes are relevant and reasonable in the circumstances, but which may prove to be
incorrect. Assumptions have been made regarding, among other things, the price of iron, titanium,
vanadium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration
and development; the estimated costs of development of exploration projects; Temas Resources’ ability
to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Temas Resources’ respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered reasonable
by management, are inherently subject t o significant business, economic, competitive, political and
social uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward ‐looking statements or forward -
looking information and Temas Resources has made assumptions and estimates based on or related to
many of these factors. Such factors include, without limitat ion: the Company’s dependence on one
mineral project; precious metals price volatility; risks associated with the conduct of the Company’s
mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance on the
Company’s management team and outside contractors; risks regarding mineral resources and reserves;
the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at
all; currency fluctuations; risks regarding the failure to gener ate sufficient cash flow from operations;
risks relating to project financing and equity issuances; risks and unknowns inherent in all mining
projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and
operating c osts of such projects; contests over title to properties, particularly title to undeveloped
properties; laws and regulations governing the environment, health and safety; the ability of the
communities in which the Company operates to manage and cope with the implications of COVID-19; the
economic and financial implications of COVID -19 to the Company; operating or technical difficulties in
connection with mining or development activities; employee relations, labour unrest or unavailability;
the Company’s interactions with surrounding communities and artisanal miners; the Company’s ability to
successfully integrate acquired assets; the speculative nature of exploration and development, including
the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest
among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk;
and the factors identified under the caption “Risk Factors” in Temas Resources’ management discussion
and analysis. Readers are cautioned against attributing undue certainty to forward ‐looking statements
or forward-looking information. Although Temas Resources has attempted to identify important factors
that could cause actual results to differ materially, there may be other factors that cause results not to
be anticipated, estimated or intended. Temas Resources does not intend, and does not assume any
obligation, to update these forward ‐looking statements or forward -looking information to reflect
changes in assu mptions or changes in circumstances or any other events affecting such statements or
information, other than as required by applicable law.