Amended: Nippon welcomes Mr. Michel Fontaine to its Board of Directors, announces management changes and provides update on its transaction with Orminex

2021-09-21 / @thenewswire

(TheNewswire)

Brossard (Quebec) – TheNewswire - September 21st, 2021, Nippon Dragon Resources Inc. (“Nippon” or “NDR”) (TSX-V Symbol: NIP) (TSXV:NIP), Nippon is extremely pleased to announce the nomination of Mr. Michel Fontaine to its Board of Directors. Mr. Fontaine was Vice-President of Diagnos from 2005 to 2017, director of Metanor Resources Inc. from 2014 to 2018, director of Majescor Resources Inc. from 2015 to 2017 and currently a director of Puma Exploration since 2020. He also held the position of Founder, President and Chief Executive Officer of Windfall Geotek from 2017 to March 2021 a Canadian corporation offering a proven and industry-leading digital platform leveraging Artificial Intelligence (AI) technologies to significantly improve outcomes in the exploration, development, operations, and financing of geologically focused projects.

“Michel will play an important role in assisting Nippon as the company moves forward with its development strategy. His years of experience and knowledge of the industry will be of particular benefit as we start to implement a more aggressive development strategy” stated Mr. Jean-Yves Therien, Nippon’s interim President & CEO.

Nippon is also extremely pleased to announce that Mr. Mark van Schaik will be joining the company as Technical Director. Effective upon shareholder of the proposed transaction between Nippon and Orminex Limited (“Orminex”) (see press release dated September 1st, 2021 for more details on the proposed transaction), Mr. van Schaik will assume a leading role in the commercialisation, strategic planning and positioning of the company’s exclusive and patented thermal fragmentation technology within the mining sector. ‘Mark is probably the most experienced, knowledgeable and qualified person with regards to the technology and I am excited to have him join our team.’ stated Jean-Yves Therien, Nippon’s interim President and CEO.

Mark van Schaik trained and qualified in South Africa with a Nation Higher Diploma in Mechanical Engineering in 1992, and has built a career spanning almost 30 years in the Engineering and Underground Hard Rock Mining Industries. Mark spent time working for some of the best known OEM suppliers like Atlas Copco and Sandvik Mining, and then ultimately founded and managed the maXem group of companies. maXem specialised in long-hole drilling equipment design, manufacture and support, also, distributor representation for a number of international OEM’s such as Nippon Dragon Resources, CMAC, Wassara, and Montabert, and also providing full contract mining solutions. One highlight of Mark’s career was establishing and supporting the Thermal Mining Method in South Africa and hands on operation of this method for a period of about 2 years. During this time, extensive experience was obtained that allowed for equipment and operating processes to be dramatically improved. Mark’s passion is for developing and implementing technical innovations into complete business solutions, and hopes to be able to use his experience to compliment and assist Nippon in taking their business to new achievements

Nippon also announces the departure of the company’s Chief Operating Officer, Mr. Nick Vukovic. Mr. Vukovic has also tendered his resignation as a Board member, effective immediately. The Board wishes to thank Mr. Vukovic for his service and wishes him well on his future endeavours.

Transaction Update

Nippon is also very pleased to inform shareholders that the proposed transaction between Nippon and Orminex (see press release dated September 1st, 2021 for more details on the proposed transaction) is progressing well. Nippon has received conditional approval of the proposed transaction and will now be seeking approval of its shareholders’ at the company’s Annual General and Special Meeting (the “Meeting”) to be held on October 28th, 2021. At the Meeting, Nippon will also seek shareholder approval for a series of transactions with Material Japan Inc. (see press release dated September 1st, 2021 for more details), as well as a proposed name to G.E.TT Gold Inc. (Green Extraction Thermal Technology) in order to better reflect the company’s path forward upon completion of the transaction with Orminex. In connection with the Meeting, Nippon and its advisors are presently preparing a management proxy circular (the “Circular”) which will contain more details on all items to be considered and approved at the Meeting. The Circular will be mailed to Nippon shareholders at the beginning of October and will be available on SEDAR on Nippon’s issuer profile at www.sedar.com.

‘Today’s announcements clearly demonstrate management’s steadfast commitment to transform Nippon into a profitable hybrid mining and technology company.’ stated Jean-Yves Therien, Nippon’s Interim President and CEO.

About Nippon

Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation currently holds three gold properties, Rocmec 1 with resources recognized in accordance with NI43-101, Denain and Courville-Maruska properties. Nippon also has an exclusive license for the Thermal Fragmentation mining process.

The company’s growth strategy is based on:

- The development of its gold deposits with the objective of producing revenue from its operations;

- Increasing the value of its mining assets by prioritizing its exploration targets; and

- The commercialisation and employment of its thermal fragmentation technology.

Le présent communiqué est disponible en français site web de Ressources Nippon Dragon.

For additional information:
John Stella, Investor relations (514) 718-7976 jstella@nippondragon.com
Jean-Yves Therien, Interim President & CEO (450) 510-4442 jytherien@nippondragon.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Québec) J4Z 1A7

Tel: (450) 510-4442 www.nippondragon.com