Mr. Ben Guenther reports
JAGUAR MINING ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND CHANGES TO THE BOARD OF DIRECTORS
Jaguar Mining Inc. has appointed Vernon Baker as chief executive officer. Ben Guenther, interim CEO, will step down effective immediately but will remain on Jaguar Mining's board of directors.
"On behalf of the Jaguar Mining's board of directors, I am very pleased to welcome Vernon Baker as the new CEO," said Thomas Weng, chairman, Jaguar Mining. "Mr. Baker is an experienced executive with extensive underground mining experience and a diverse operational background. We are excited by his commitment to continue executing Jaguar's key strategic priorities and turnaround strategy."
Mr. Baker stated, "I am thrilled to be leading Jaguar Mining and working closely with the board and all of our employees to continue the progress made to date at Turmalina and Pilar, and to be focused on achieving the company's strategic goals to increase gold production from their high-quality gold assets in Brazil."
The appointment of Mr. Baker as CEO is the conclusion of Jaguar's review of strategic alternatives previously announced by the company. The board believes that the execution of the company's business plan under Mr. Baker's leadership will be the best path forward for the company to maximize value for shareholders.
Mr. Weng stated, "The board would like to thank Ben Guenther for his service as interim CEO."
The company also announced the acceptance of Richard Falconer's resignation as an independent director and the appointment of Rodney Lamond to the board. Mr. Lamond previously served as Jaguar Mining chief executive officer from December, 2015, to August, 2018. On behalf of the board: "I would like to thank Mr. Falconer for his many contributions to Jaguar during his tenure and wish him success on his future endeavours. I would also like to welcome Mr. Lamond back to the Jaguar family and look forward to working with him in executing Jaguar's turnaround." The appointments are subject to regulatory approval.
Mr. Baker bio
Mr. Baker will be appointed as the new chief executive officer effective Aug. 6, 2019. Mr. Baker brings over 35 years of mining industry experience. He has extensive management and operations expertise at globally focused mid-tier and senior mining companies. Most recently, he was general manager at Goldcorp's Cerro Negro mine in Argentina, overseeing 3,000 tonnes per day of high-grade production and implementing programs to reduce costs, grow production and development, and leading strong safety improvement to achieve an all-injury frequency rate of 0.28 in 2017. Previously, Mr. Baker held management and senior leadership roles with various mining companies including president at Duluth Metals Ltd., vice-president of operations at FNX Mining, general manager at Barrick Goldstrike Mines Inc., and general manager of Hemlo Operations, a joint venture of Teck Cominco and Barrick Gold.
About Jaguar Mining Inc.
Jaguar Mining is a Canadian-listed junior gold mining, development and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims covering an area of approximately 64,000 hectares. The company's principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais, and include the Turmalina gold mine complex and Caete mining complex (Pilar and Roca Grande mines, and Caete plant). The company also owns the Paciencia gold mine complex, which has been on care and maintenance since 2012 and the Roca Grande mine which has been on care and maintenance since April, 2018.
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