Stellar AfricaGold Management Reorganization

2021-03-30 / @thenewswire

(TheNewswire)

Vancouver – TheNewswire - March 30, 2021 John Cumming is pleased to announce that J. Francois Lalonde has been promoted to President and CEO of Stellar AfricaGold Inc.

Changes to Management

Highlights of management changes:

- J. François Lalonde has been promoted to President and Chief Executive Officer
- John Cumming will serve as Executive Chairman.
- James Henning, B.Comm., CPA, CA, has been Chief Financial Officer appointed

J. François Lalonde has been promoted to President & CEO. Mr. Lalonde, a civil engineer, brings extensive African business experience to the leadership of the company after working more than 30 years with major engineering and construction multinationals such as SNC-Lavalin, Pomerleau and until now, with Bouygues Travaux Publics, where he served as international business development consultant for the last 15 years. He has particular knowledge of the mining and infrastructure markets on the African continent as well as the Middle East where he has notably participated in the development and delivery of large-scale energy, transportation and other infrastructure projects.

Mr. Lalonde was actively involved in the Company’s re-orientation in Morocco and Côte d’Ivoire, including the acquisition of a major interest of Tichka Est Gold project in partnership with Office Nationale des Hydrocarbures et des Mines (ONHYM) in Morocco. In accepting his new position Mr. Lalonde commented “In the near term the Company will continue to focus on the ongoing exploration of the Tichka-Est gold project in Morocco, but through the coming years there will be great opportunities for junior explorers in copper and silver, particularly in Morocco. Within the next twelve months I would like to see Stellar positioned in both those commodities as a complement to gold.”

Mr. Lalonde serves on the Board of Directors of other TSX-V listed companies and benefits from a large international network in the business community.

John Cumming has been appointed Executive Chairman remaining fully involved in the ongoing operations of the Company and working closely with the CEO in developing and guiding the overall direction of the Company. Mr. Cumming, a public corporate finance and mining lawyer, has served as a director and officer of numerous public resource corporations since beginning his legal career in 1978, and was instrumental in the Merrex-IAMGOLD exploration Joint Venture that ultimately led to the $43 million share takeover of Merrex by IAMGOLD. As CEO of Stellar, he led the successful sale of the Balandougou Guinea gold project in an all-cash transaction to Rida Mining Ltd.

Effective April 1, 2021 Mr. James Henning, B.Comm., CPA, CA, will assume the role of Chief Financial Officer. Mr. Henning brings extensive business, accounting and public company CFO experience to the role that he will now fill at Stellar Africagold Inc.

Maurice Giroux, V-P Exploration and Chief Operating Officer, working in concert with Mr. Lalonde, will continue his job of identifying and developing new acquisitions in Africa but with an expanded acquisitions mandate which will include gold, silver and copper. Maurice has over 40 years of exploration experience on the international scene, especially in West Africa where he has been active for 26 years and was involved in the discovery of three gold and diamond mines that are under commercial development today.

Stellar director Yassine Belkabir, working through his consultancy ‘The African Bureau of Mining Consultants’, will continue to assist the Company to develop its portfolio and acquire African projects.

ABOUT STELLAR AFRICAGOLD INC.

Stellar AfricaGold Inc. is a Canadian gold company with offices in Vancouver, BC and Montreal, QC. Stellar Chairman John Cumming can be contacted at 604-618-4262 or by email at cumming@stellarafricagold.com.

The technical content of this press release has been reviewed and approved by Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.

On Behalf of the Board

John Cumming, LLM,

Executive Chairman

This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.

Neither the 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.