Macarthur Minerals Appoints New Non-Executive Director to the Board to Broaden Its Investment Banking Experience

VANCOUVER, British Columbia, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V:MMS) (the “Company” or “Macarthur Minerals”) is pleased to welcome Mr Earl Evans back to the Board of the Company as a Non-Executive Director.  Mr Evans was appointed Chairman of Macarthur Minerals in May 2015 and handed over this role to the Company’s current Executive Chairman, Mr Cameron McCall in December 2015.

Mr Evans has held numerous senior executive roles throughout his 26 year career in the financial services industry and is currently Joint CEO of Shaw and Partners which is one of Australia preeminent investment firms with offices in each state of Australia, managing $14 billion in assets.  Prior to this role, Mr Evans has had an impressive investment banking career spanning 11 years as Executive Director within the Macquarie Group Limited including 5 years in Canada as the Head of Banking and Financial Services for North America.

Cameron McCall, Executive Chairman of Macarthur Minerals commented:

“I have worked with Earl Evans over the last two decades and he has always been a driver of value for his shareholders.  Macarthur Minerals has a full program in 2018 in developing its iron ore assets in the Yilgarn Western Australia in light of recently announcements of closures of several iron ore mines in the region.  This provides the opportunity for the Company to bid for capacity on the rail and port network when it becomes available.  Macarthur Minerals is also actively exploring its portfolio of gold and lithium tenements in the Pilbara, Western Australia and its lithium brine claims in the Railroad Valley, Nevada”.

The Company also announces the retirement of David Taplin as Joint Chief Executive Officer and Director.  David has had a long history with the Company commencing in August 2009, as Company Secretary and Chief Financial Officer.  In 2015, he took on the role of Chief Executive Officer and worked closely with the Company’s management and executive team to identify new exploration opportunities in gold and lithium.  The Board would like to thank David for his significant contribution to the Company and wish him success in his future endeavours.

Moving forward, with the appointment of Mr Earl Evans along with the recent appointment of Mr Andrew Haythorpe as Technical Advisor to the gold and lithium team and with Joe Phillips now becoming CEO, Macarthur Minerals boasts a very experienced technical and skill based team to realize shareholder value.

ABOUT MACARTHUR MINERALS LIMITED (TSX-V:MMS)

Macarthur Minerals Limited is an exploration company that is focused on identifying high grade gold and lithium. Macarthur Minerals has significant gold, lithium and iron ore exploration interests in Australia and Nevada. Macarthur Minerals has two iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.

On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED

“Cameron McCall”
Cameron McCall, Executive Chairman

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Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.