22:02:05 EDT Sun 19 May 2024
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Tearlach Resources Ltd (2)
Symbol TEA
Shares Issued 83,837,251
Close 2023-05-11 C$ 0.215
Market Cap C$ 18,025,009
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Tearlach Resources appoints Ross interim CEO

2023-05-11 21:08 ET - News Release

Mr. Charles Ross reports

TEARLACH APPOINTS DAVID FLINT AS DIRECTOR OF THE COMPANY AND PRESIDENT OF PAN AM LITHIUM (NEVADA) CORP; CHARLES ROSS APPOINTED AS INTERIM CEO

Tearlach Resources Ltd. has appointed David Flint as a director of the company and president of Pan Am Lithium (Nevada) Corp., the company's wholly owned subsidiary, whereby Mr. Flint will lead the company's exploration in Nevada. Charles Ross has been appointed as interim chief executive officer. Mr. Flint has led the Gabriel exploration team, spearheading the development and execution of the current exploration plan, which has consistently advanced the company's Nevada project.

With an extensive background as a metals geologist, Mr. Flint boasts over 35 years of invaluable experience. Most recently, he served as the vice-president of exploration for Allied Nevada Gold, where he successfully directed exploration programs that led to a substantial increase of 10 million ounces of gold and 450 million ounces of silver in the published reserves of the Hycroft mine. Additionally, Mr. Flint skillfully managed various technical studies that supported mine plans and the feasibility study. Notably, he played a pivotal role in establishing reserves and publishing National Instrument 43-101 technical reports for the Hasbrouck Mountain project. During his 20-year tenure at Freeport McMoRan, Mr. Flint held several positions, including project geologist for the discovery, exploration, development and early production of the Grasberg deposit in Irian Jaya, Indonesia. The geologic resources defined during this initial two-year period amounted to approximately 500 million tonnes, with grades of 1.50 per cent copper and 1.50 grams per tonne gold. He also made significant contributions in underground mine geology, mine planning, raise miner supervision and expansion studies, playing a key role in seven mine studies that were successfully brought into production. Moreover, Mr. Flint has extensive experience in precious-metal exploration, having worked with renowned companies such as Rio Tinto and Freeport McMoRan in the Western United States and Panama. His areas of expertise encompass the geology of epigenetic hydrothermal deposits (epithermal gold and porphyry copper), multidimensional orebody characterization, Block Cave mine design and technical project management. Mr. Flint holds bachelor and master of science degrees in geology and is a certified professional geologist with the American Institute of Professional Geologists (AIPG). His leadership has been instrumental in guiding the exploration team on the Gabriel project in Nevada.

Mr. Ross has more than 30 years of experience in the international resource sector, much of it focused on senior project and financial management. He has served as a director, president and chief financial officer of numerous public resource companies and has extensive experience in corporate finance and public company administration.

Mr. Lekstrom has resigned for personal reasons as president, CEO and director of Tearlach, and will continue as a director of Pan Am Lithium (Nevada), which holds the Gabriel project. Tearlach will work with Mr. Lekstrom to identify strategic options to maximize shareholder value from the Gabriel project, while Tearlach's VP, exploration, Dr. Selway, concurrently advances the Canadian projects through discovery phases. This could give shareholders the added benefit of two opportunities in two mining-friendly jurisdictions with respective lithium experts in each country. The company greatly appreciates the involvement of Mr. Lekstrom in the growth of the company and looks forward to his continued assistance as a director of Pan Am Lithium (Nevada) Corp.

The company also announces that Paul Chow has resigned from the company's board of directors so that he can focus his attention on his current obligations. The company thanks him for his contribution to the company and wishes him the best in his future endeavours.

About Tearlach Resources Ltd.

Tearlach, a member of the TSX Venture 50, is a Canadian exploration company engaged in acquiring, exploring and developing lithium projects. Tearlach has a joint venture agreement with Blackrock Silver on the Gabriel project in Tonopah, Nev., bordering American Lithium's TLC deposit, and has completed 11 drill holes on the Gabriel property. Tearlach has three lithium assets in Ontario: Final Frontier, Georgina Stairs and New Frontier. Final Frontier is located adjacent to and near Frontier Lithium's PAK lithium deposit north of Red Lake. Georgina Stairs is located northeast of Rock Tech Lithium's Georgia Lake deposit near Beardmore. Tearlach has two lithium assets in Quebec: the Rose-Fliszar-Muscovite project in the James Bay area and the Shelby project adjacent to and near Patriot Battery Metals' Corvette lithium project and Winsome Resources' Cancet and Adina lithium projects. Tearlach also has the Savant property, an exploration-stage gold-silver-copper property, in Northwestern Ontario. Tearlach's primary objective is to position itself as North America's leading lithium exploration and development company.

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