Toronto, Ontario–(Newsfile Corp. – March 12, 2018) – Carube Copper Corp. (TSXV: CUC) (the “Company“) announces today that its current Board of Directors has proposed a slate of directors for the upcoming Special and Annual General Meeting scheduled for May 24th, 2018. The Board has also appointed Tony Houston as interim CEO and President of the company. Jeff Ackert, incumbent CEO and President will become VP of Business Development. Tony Manini will take over as Chairman.
Mr. Manini commented “We are happy to announce a slate of directors that will add considerable depth to our Board and expand our relationships within the financial community. We have high quality copper-gold exploration assets in Jamaica, and these changes allow us to move the company forward with a strengthened team.”
Carube’s proposed slate of directors to be voted on at the Company’s AGM in May with consist the following: Tony Manini, Yale Simpson, Alar Soever, Zimi Meka, T. Sean Harvey, and Stephen Hughes. The last three directors will be new to the board. Stepping down from Carube’s board in May will be Greg Leblanc, Jeff Ackert, Vern Rampton and Mark Pfau. Carube would like to thank these members of the board for their contribution to the company during its formative years.
Mr. Pfau was the nominee of Clarendon Consolidated Minerals Ltd. from whom the Bellas Gate Property was acquired. Under the acquisition agreement for the Bellas Gate Property, CMM retains a 2 % NSR royalty and has the right to nominate a Director. CCM has agreed to the nomination of Mr. Manini as its nominee.
Tony Houston, Interim President and CEO of Carube Copper stated “I look forward to taking Carube Copper through this next phase of development. I am also pleased to see the calibre of the directors on this proposed slate to be voted on at our special and annual general meeting on May 24th. The current team has laid a strong asset foundation with new copper and gold porphyry discoveries in Jamaica. I look forward to a successful future for Carube with our new board.”
Zimi Meka is one of the founding directors of Ausenco Limited and was appointed as Chief Executive Officer / Managing Director in 1999. Mr. Meka’s background includes senior roles in engineering and operations companies prior to the formation of Ausenco in 1991. He has over 25 years’ experience in the design, construction and operation of a wide range of processing plants and infrastructure in the minerals industry in Australia and internationally. He is the Queensland University of Technology’s 2008 Alumnus of the Year, was awarded the Australian Institute of Mining and Metallurgy’s 2009 Institute Medal and is one of Australia’s top 100 most influential engineers as awarded by Engineers Australia. He is a Fellow of Engineers Australia, a Fellow of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Company Directors.
T. Sean Harvey has over 25 years experience in the mining sector, including 10 years working in senior investment banking roles with Nesbitt Burns (BMO) and Deutsche Bank. In addition to co-founding two TSX Venture Exchange-listed companies, he was president and chief executive officer of TVX Gold at the time of its sale to Kinross Gold in 2003. Subsequently, he was president and CEO of Atlantico Gold Corp., a private company involved in the development of the Amapari project in Brazil that was sold to Wheaton River Minerals (acquired by Goldcorp). Mr. Harvey was also president and CEO of Orvana Minerals Corp. from 2005 to 2006. More recently he has held board positions with various mining companies, and is currently a director of Victoria Gold Corp., Perseus Mining Ltd., Serabi Gold PLC, Sarama Resources Inc. and Abacus Mining and Exploration. Mr. Harvey holds an honours BA degree in economics and geography from Carleton University, an MA in economics from Carleton University, an LLB from the University of Western Ontario and an MBA from the University of Toronto. He is also a member of the Law Society of Upper Canada.
Stephen Hughes is an economic geologist with over 20 years technical and management experience covering exploration, development and mine geology. Specializing in porphyry copper-gold, skarn and epithermal systems he has lead the discovery-delineation and development of more than 2 billion tonnes of copper-gold resources in the Asia-Pacific region since 1999. Steve’s experience includes 12 years with PT Freeport Indonesia at the giant Grasberg mine, both in the open pit and as manager of the underground mine geology and exploration groups and 14 years as Exploration Manager – Indonesia for Oxiana Limited and VP – Exploration for Tigers Realm/Asiamet Resources where his roles have focused on managing the acquisition, exploration and development of Company making Cu-Au opportunities. Recent successes include the acquisition and development of the Beutong porphyry Cu-Au deposit and discovery and development of the BKM copper and BKZ polymetallic deposits in Indonesia, all of which are currently being advanced through resource delineation and/or feasibility studies. Stephen holds an honours degree in geology from Saint Mary’s University in Nova Scotia.
Tony Houston is a geologist and senior executive with over thirty years mineral exploration, evaluation and development experience covering gold, copper-gold and polymetallic mineral systems in Australia, Asia, South and North America, Canada and Eastern Europe. Mr. Houston worked with MIM Exploration for a period of 13 years in a variety of exploration management and commercial roles predominantly in Australia, Philippines and Romania before joining Oxiana Limited as Exploration Manager for South-east Asia in 2006. At Oxiana he was responsible for securing a portfolio of mineral properties and driving all exploration activities across Laos, Thailand, Vietnam and Cambodia, including high level government and community relations. Discoveries during this period included the 1.2Moz Okvau IRG gold deposit and satellite gold discoveries adjacent to the Sepon mining operations.
Between 2009-2015 Mr. Houston was the Head of Exploration for OZ Minerals Limited responsible for exploration, evaluation and strategy. He led the team that discovered the Khamsin IOCG deposit and completed the delineation and pre-development of the world class Carrapateena IOCG deposit, both in the Gawler Craton of South Australia. Mr. Houston expanded OZ Minerals exploration activities into South America, Mexico and Canada establishing numerous joint ventures for copper-gold exploration, including the Jamaica joint venture with Carube Copper. Most recently he has been consulting to private equity companies and investment groups on evaluation of gold and copper/gold projects in Australia and Europe. Mr. Houston graduated in Geology and Marine Science at James Cook University in 1982 and is a Member of the Australian Institute of Geoscientists.
About Carube Copper
Carube is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100% interest in 11 licenses, totalling 535 square kilometres. In Canada, it holds a 100% interest in three porphyry copper-gold-molybdenum properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic Arc in southwestern British Columbia.
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DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.
IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-statements.pdf