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Vancouver, British Columbia--(Newsfile Corp. - April 5, 2021) - Battery Mineral Resources Corp. (TSXV: BMR) ("Battery" or the "Company") is pleased to announce that Martin Kostuik has been appointed as the Company's new Chief Executive Officer ("CEO") and as a Director of the Board. Mr. Laz Nikeas will continue to serve as Executive Chairman of the Board.
Commenting on the new appointments, Laz Nikeas, Executive Chairman, said: "On behalf of everyone at the Company, I would like to welcome Martin to the BMR team. The Board conducted a comprehensive search for the CEO role, and we believe that in Martin, we have found a CEO who combines extensive analytical and financial skills, as well as managerial and strategic talents. Martin's proven track record in working with developing mining companies will be invaluable as we continue to advance our corporate strategy."
Mr. Kostuik (B.Sc., MBA) is a mining engineer and senior executive with 28 years of diversified experience in the mining industry. Mr. Kostuik joins the Company from Arizona Gold Corporation where he served as President and Director of the Board for the last four years. Mr. Kostuik established and executed the business, operating and funding plan to determine the feasibility of placing the Copperstone mine into production. On the heels of an early successful marketing effort in North America and Europe, he was able to organize an equity financing which helped launch the Company back into commercial activity and concluded with forming and executing a plan to place the Copperstone Mine into production. He then formed relationships with several project funding groups that culminated in a strategic partnership with a major mining-centered capital funding group which is providing a key portion of the project financing required for the re-start of the Copperstone mine.
Prior to that, Mr. Kostuik was with Luna Gold Corporation where he was Senior Vice President of Operations and Development, responsible for operations, development, capital projects, environmental, government and community relations. He helped to reorganize existing financing and obtain new financing to maintain debt covenants and protect solvency. In a staged manner, Mr. Kostuik safely brought the Aurizona gold project from full operations to a care and maintenance status while positively developing social and government relations, maximizing remaining revenue and minimizing costs. He maintained a core management team in Brazil, organized and oversaw an $5MM exploration program and began expanding the team with key senior personnel to prepare for the restart of the mine. He lead the execution of 43-101 pre-feasibility and feasibility studies and formulated a re-start schedule and budget which provided a roadmap for future investments and potential profitable gold production.
Mr. Kostuik was also President, CEO and Director of Rupert Resources Limited, where he focused on implementing exploration programs for existing assets and on developing the Company through evaluations of investment opportunities for near term corporate growth.
Prior to his executive roles, Mr. Kostuik built a broad base of experience in operations, engineering, exploration and capital projects with various companies including Barrick Gold Corporation, Taseko Mines Limited, DMC Mining Services and The Rogers Group.
Mr. Kostuik stated: "The team at BMR has done a tremendous job in assembling a large base with quality, undervalued battery metals projects in mining friendly jurisdictions within North America and South Korea. I am delighted to be joining the BMR team and am excited about the opportunity to lead BMR by continuing to advance our corporate strategy by realizing the value of our current projects for our shareholders while bolstering our platform with additional accretive investments in this exciting and growing space."
About Battery Mineral Resources Corp.
Battery is a Canadian-based, multi-commodity resource company. Battery is engaged in the discovery, acquisition, and development of battery metals (cobalt, nickel & copper) and precious metals (silver & gold) mining projects in Canada, with additional cobalt, lithium and graphite projects in the United States and South Korea. Battery is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada, with various high-grade primary cobalt silver-nickel-copper targets located in the Cobalt Belt of Ontario and Quebec. In addition, Battery owns approximately 89.2% of ESI Energy Services, Inc., a pipeline equipment rental and sales company with operations in Leduc, Alberta and Phoenix, Arizona. Finally, Battery is currently pursuing a concurrent financing and acquisition to acquire the Punitaqui Mining Complex, a copper-gold mine located in the Coquimbo region of Chile.
For further information, please contact:
Battery Mineral Resources Corp.
Phone: +1 (604) 229 3830
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements related to the completion of Punitaqui Acquisition, the acquisition of the Xiana Indebtedness or the Offering, the use of the proceeds of the Offering, the potential benefits of such transactions and the likelihood of developing the Punitaqui Mine Complex into a sustainable mid-sized copper producer. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete the Punitaqui Acquisition, obtaining all required regulatory approvals necessary to complete the Punitaqui Acquisition and the acquisition of Xiana Indebtedness, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.
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