Inflection Resources Appoints Fraser MacCorquodale as Director and Dr. Neil Adshead as Advisor
Vancouver, British Columbia – TheNewswire – March 27, 2024: Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the “Company” or “Inflection”) is pleased to announce the appointments of Mr. Fraser MacCorquodale as a Non-Executive Director and Dr. Neil Adshead as Advisor to the Company, effective immediately.
Summary Highlights:
- The Company has appointed Mr. MacCorquodale as a Non-Executive Director. Fraser is an exploration geologist with over 35 years’ experience and until recently was Newcrest Mining’s global head of exploration from 2008 to 2023, during which he was directly involved in several discoveries within Australia, Indonesia, Papua New Guinea, West Africa and Western Canada. Fraser has a deep understanding of the Macquarie Arc and the Cadia district in New South Wales where Inflection is exploring its portfolio of 100% owned projects;
- The Company has also appointed Dr. Neil Adshead as Advisor. Neil is an industry veteran with extensive technical and capital markets expertise and was a portfolio manager and investment strategist at Sprott Inc. between 2012 to 2023. Prior to joining Sprott, Neil was a senior mining analyst at Passport Capital and prior to that held senior roles with Placer Dome.
Alistair Waddell, Inflection’s President and CEO, states: “I am delighted to welcome Fraser and Neil to the Company, both of whom possess tremendous and highly relevant experience that complements Inflection’s ongoing exploration activities in Australia. We are pleased to have attracted such accomplished and discovery-focused industry veterans with strong technical and capital market expertise. Fraser’s deep technical knowledge of copper-gold porphyry deposits, especially in the Macquarie Arc, as well as Neil’s global knowledge of the exploration business and capital markets will greatly assist the Company’s initiatives in New South Wales, where it controls over 7,000 square kilometres of exploration licenses”.
About Fraser MacCorquodale, Non-Executive Director: Mr. MacCorquodale is an exploration geologist with over 35 years experience in exploring for gold and copper deposits globally, encompassing expertise in near mine, brownfield and greenfield exploration. Fraser led Newcrest’s global exploration team from 2008 to 2023, during which he was directly involved in a number of discoveries within Australia, Indonesia, Papua New Guinea, West Africa and Western Canada. During his tenure, Fraser played a pivotal role in formulating and executing Newcrest’s growth strategy, overseeing the development of a world-class exploration team and establishing a robust growth portfolio.
Fraser has tremendous expertise in exploring for alkalic porphyry deposits, including significant experience in exploring under cover within the Macquarie Arc. This expertise is built upon a deep knowledge of the world class Cadia and the Red Chris copper-gold districts and their associated footprints, particularly at depth. Fraser was awarded the Colin Spence Award for excellence in Global Mineral Exploration in 2020 from the Association for Mineral Exploration for his role in discovery of the Havieron project located in Western Australia.
About Dr. Neil Adshead, Advisor: Dr. Adshead’s career commenced at Placer Dome, where he held various exploration, mining and managerial roles in Australia, Papua New Guinea and Canada. After a decade with Placer Dome, he worked the next twenty years on the buy-side, initially serving as a Senior Mining Analyst at San Francisco-based Passport Capital, then as an Investment Strategist and Portfolio Manager for various subsidiaries of Sprott Inc. Neil currently holds several roles including assisting a mid-tier mining company with growth initiatives and providing technically-focused investment reviews for investments funds with different mandates.
Stock Options: The Company has granted 2,950,000 incentive stock options (the “Options”) to Officers, Directors, employees and advisors to the Company. Each Option is exercisable to purchase one common share of the Company at a price of $0.20 for a five-year term and will vest six months after the date of grant. The Options are subject to the acceptance of the Canadian Securities Exchange.
About Inflection Resources Ltd. Inflection is a technically driven copper-gold and gold focused mineral exploration company listed on the Canadian Securities Exchange under the symbol “AUCU” and on the OTCQB under the symbol “AUCUF” with projects in Australia.
The Company is systematically exploring for large copper-gold deposits in the northern interpreted extension of the Macquarie Arc, part of the Lachlan Fold Belt in New South Wales. The Macquarie Arc is Australia’s premier porphyry copper-gold province host to Newmont’s Cadia deposits, the CMOC Northparkes deposits and Evolution Mining’s Cowal deposits plus numerous exploration prospects including Boda, the discovery made by Alkane Resources. For more information, please visit the Company website at www.inflectionresources.com.
Inflection is part of the NewQuest Capital Group which is a discovery-driven investment group that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company website at www.nqcapitalgroup.com.
On behalf of the Board of Directors
Alistair Waddell
President and CEO
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, amount of drilling, receipt of the maximum amount of available grant funding, anticipated content, commencement and cost of exploration programs in respect of the Company’s projects and mineral properties, AngloGold’s anticipated funding of the Minimum Commitment and timing thereof, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company’s exploration plans. the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated June 12, 2020 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements, except as otherwise required by law.
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