03:41:21 EDT Tue 21 May 2024
Enter Symbol
or Name
USA
CA



Westward Gold Inc
Symbol WG
Shares Issued 83,073,902
Close 2023-06-13 C$ 0.125
Market Cap C$ 10,384,238
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Westward Gold appoints Fabbro as director

2023-06-13 12:05 ET - News Release

Mr. Colin Moore reports

WESTWARD GOLD APPOINTS AL FABBRO TO BOARD OF DIRECTORS

Westward Gold Inc. has appointed Allan (Al) Fabbro to the company's board of directors as an independent director.

Mr. Fabbro is a 40-year veteran of the finance and mining industries, and currently serves as president, chief executive officer and lead director of Midnight Sun Mining Corp. From 1984 to 1990, he led the retail trading department of Yorkton Securities, followed by six years with its natural resources group. Mr. Fabbro subsequently joined Canaccord Capital as an investment adviser, a role he held for a decade. More recently, he was also co-founder and lead director of Roxgold Inc., which was named the top company on the TSX Venture 50 and raised in excess of $60-million in equity financing during his tenure. Roxgold was acquired by Fortuna Silver Mines in 2021 in a deal valued at approximately $1-billion.

Following his tenure at Canaccord Capital, Mr. Fabbro became president of American Consolidated Minerals Corp. (ACM) in 2009. At that time, ACM owned and was actively exploring the Toiyabe gold project in Lander county, Nevada, now Westward's flagship property. Under Mr. Fabbro's leadership, prior to ACM's acquisition by Starcore International Mines Ltd. in 2014, some of the most significant drilling campaigns were conducted at Toiyabe.

Mr. Fabbro commented: "I've been intrigued by what the Westward team has been able to accomplish at Toiyabe, the fresh approach they've taken to its exploration and the regional consolidation. I'm pleased that the property is getting the attention it deserves and grateful for the opportunity to be involved in its development once again. I've always felt like I had some unfinished business here."

Westward also announces the resignation of Johnathan Dewdney from the board of directors. The company would like to extend its gratitude to Mr. Dewdney for his long-tenured work and wishes him the best in future endeavours.

Colin Moore, Westward president and chief executive officer, commented: "On behalf of management and the board of directors, I would like to thank John for his tireless efforts supporting the company over the last many years. He was a key contributor to the transactions that led to our current asset portfolio in Nevada, fundraising efforts and overall corporate strategy. I would also like to extend a warm welcome to Mr. Al Fabbro, whose personal knowledge of Toiyabe and experienced industry leadership will serve us immensely moving forward."

Option grant

In addition, the company announces that it has granted an aggregate of 600,000 stock options to Mr. Fabbro and Terry Salman. Mr. Salman was recently appointed as strategic adviser to the company (see news release dated March 27, 2023). The options, which vest immediately, are exercisable at a price of 15 cents per share for a period of five years from the date of grant.

About Westward Gold Inc.

Westward Gold is a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon and East Saddle projects, located in the Cortez Hills area of Lander county in Nevada, and the Coyote and Rossi projects, located along the Carlin trend in Elko county in Nevada. From time to time, the company may also evaluate the acquisition of other mineral exploration assets and opportunities.

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