Vancouver, British Columbia, August 16, 2021 – IM Exploration Inc. (CSE: IM) ( “IM” or the “Company” ) is pleased to announce the appointment of David Kelley, B.Sc. (Geo), M.Sc. (Geo) to the Company’s Board of Directors.
Mr. Kelley brings over 30 years of international mineral exploration experience to the Company, having worked on projects across all stages of development and throughout the Americas, Central Asia and Australasia. He is a Co-Founder of Chakana Copper (TSX-V: PERU), an exploration company focused on advancing the Soledad copper-gold-silver Project in Peru, and has served as President, CEO and Director since 2016. Prior to that, Mr. Kelley was responsible for developing the exploration program at the world-class Las Bambas Project for MMG USA Ltd. as the company’s General Manager of Exploration (Americas). In that role he also implemented and led exploration programs across multiple commodities and stages for properties in Canada, U.S.A., Mexico, Jamaica, Peru, Brazil and Chile.
Throughout his career Mr. Kelley has worked as a geochemist and geologist for companies including Newmont Mining, Western Mining Corporation, BHP Minerals, Westmont Mining, and Gold Standard. He has been directly involved in several discoveries over the years, including the Zuun Mod copper-moly deposit in Mongolia, the Wayamaga gold deposit is French Guiana, and the High Lake East VHMS deposit in Nunavut, Canada.
Mr. Kelley is a past President of both the Society of Economic Geologists Foundation, and the Association of Applied Geochemists. He earned his Bachelor of Science (Geology) from Colorado State University, and his Master of Science (Geology & Geochemistry) from the Colorado School of Mines.
Colin Moore, President of IM Exploration, noted: “We are very excited to welcome David to the Company as an independent director. His vast experience managing exploration programs around the world, as well as his knowledge of the capital markets as the current leader of a publicly-traded company, will serve us greatly moving forward. We’re proud of the team we continue to build around us over a short amount of time.”
The Company has granted an aggregate of 200,000 options to David Kelley pursuant to the Company’s stock option plan. The options, which vest immediately, are exercisable at a price of $0.24 per common share of IM for a period of five (5) years from the date of grant.
The Company also announces that Yaron Conforti has resigned from the Company’s Board of Directors. Mr. Conforti is a co-founder of IM Exploration and was instrumental in its development; the Company is grateful for his many contributions over several years of service.
The Company is also pleased to announce that it has filed an updated NI 43-101 Technical Report on the Turquoise Canyon Project (the “Turquoise Canyon Report” ) to SEDAR. The Turquoise Canyon Report was authored by Ethos Geological with Scott Close, M.Sc., P.Geo as the Qualified Person. The Turquoise Canyon Report has an effective date of August 1, 2021. Additional information regarding the Turquoise Canyon Project can be found in the Company’s press release dated May 17, 2021.
About IM Exploration
IM Exploration is a mineral exploration company focused on developing the Toiyabe and Turquoise Canyon Projects located in the Cortez Hills area of Lander County, Nevada. The Company is also advancing the Mulloy Project in Northern Ontario. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
For further information contact:
Raymond D. Harari
Chief Executive Officer
IM Exploration Inc.
The securities issued pursuant to the Transaction have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Although the Company 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 as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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