TORONTO, April 08, 2022 (GLOBE NEWSWIRE) — Fredonia Mining Inc. (“Fredonia” or the “Company”) (TSXV: FRED) is pleased to announce the appointment of Mr. Omar Salas as Chief Financial Officer of the Company, succeeding Mr. Carlos Espinosa who will continue to act as an advisor to the Company through the transition period.
Mr. Salas is a financial executive with extensive international experience in the mining industry, providing operations management, strategic planning, business development and financial leadership to precious metals focused companies with operations in South America. Mr. Salas is a Chartered Public Accountant and holds a Master of Business Administration degree from McGill University. The Company looks forward to taking advantage of his knowledge and network in advancing its corporate objectives.
The Company is thankful to Mr. Espinosa for his contributions and wishes him well in his future endeavours.
Fredonia directly or indirectly, owns 100% interest in certain license areas (totaling approximately 18,300 ha.) (collectively, the “Project”), all within the Deseado Massif geological region in the Province of Santa Cruz, Argentina, including the following principal areas: El Aguila, approx. 9,100ha, Petrificados, approx. 3,000ha, and the flagship, advanced El Dorado-Monserrat property covering approx. 6,200ha located close to Anglo Gold Ashanti’s Cerro Vanguardia mine, subject to a 1.5% net smelter return royalty on the EDM project, 0.5% net profits interest on Winki II, El Aguila I, El Aguila II and Petrificados.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation relating to the Company and the EDM project, including statements regarding the prospectivity of the EDM project for gold and silver mineralization, including the potential for metal recoveries any mineral processing activity, and the Company’s future exploration plans. Words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology are used to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by the Company in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors, including, without limitation, the factors described in the Company’s filing statement dated June 22, 2021 available on SEDAR at www.sedar.com under the heading “Risk Factors” that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information and the Company can give no assurance that they will prove to be correct. The statements in this press release are made as of the date of this release. The Company undertakes no obligation to update forward-looking statement made herein, or comment on analyses, expectations or statements made by third parties in respect of the Company or its securities, other than as required by law.