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TMAC Resources Strengthens Board of Directors with Appointment of Jacques Perron

TORONTO--(BUSINESS WIRE)--

TMAC Resources Inc. (TMR.TO) (“TMAC” or the “Company”) is pleased to announce the appointment of Jacques Perron to its Board of Directors effective May 9, 2019. Mr. Perron brings over 35 years of experience in mining including extensive senior executive and corporate Board member experience. His strong operating and technical experience will benefit TMAC, including as chair of the Technical Committee of the Board.

Terry MacGibbon, Executive Chairperson, stated, “I would like to welcome Jacques to the Board of TMAC Resources. He has unique experience as an executive in the mining sector as both a CEO and in leading operations during a long career, having retired as an executive in 2016. In addition to Jacques’ operating and technical experience, TMAC will also benefit from him chairing the Technical Committee of the Board, and Jacques’ broad experience in other key areas including M&A, balance sheet management and developing organizational leaders.”

Mr. Perron is a seasoned mining executive with over 35 years of progressive technical, operation and management experience in the mining industry. He was appointed as a Director of Centerra Gold Inc. in October 2016, as a Director of Victoria Gold Corp. in June 2018, and most recently he was appointed as a Director of Aquila Resources Inc. in November 2018. Mr. Perron has previously served on the Boards of Osisko Gold Royalties, Thompson Creek Metals and St Andrew Goldfields. Mr. Perron was President and Chief Executive Officer of Thompson Creek Metals Company from 2013 to 2016. Prior to joining Thompson Creek, he was President and Chief Executive Officer of St Andrew Goldfields from 2007. Mr. Perron previously worked as Senior Vice President, Americas at IAMGOLD from 2006 to 2007 and Vice President, Canada at Cambior Inc. from 2004 to 2006. From 1984 to 2004, Mr. Perron held a variety of increasingly senior management positions with Cameco Inc., Placer Dome Canada Limited, Breakwater Resources Ltd., Cambior Inc., JS Redpath Ltd. and Noranda Inc. Mr. Perron graduated from École Polytechnique de Montréal with a Bachelor of Applied Science in Mining Engineering.

ABOUT TMAC RESOURCES INC.

TMAC operates Hope Bay located in Nunavut, Canada. The property and operations are remote but not isolated, serviced by both a port and airstrip. Hope Bay is an 80 km by 20 km Archean greenstone belt that has been explored by BHP, Miramar, Newmont and TMAC over a period spanning more than 30 years. In that time, more than $1.5 billion of sunk expenditures have been spent in exploration and evaluation, surface infrastructure, and mine and process plant development. TMAC began producing gold in early 2017 from Doris, its first mine at Hope Bay, and processed gold at the Doris Plant which originally had nameplate capacity of 1,000 tonnes per day and expanded to 2,000 tonnes per day midway through 2018. Hope Bay has 4.8 million ounces of measured and indicated resources at Doris, Madrid and Boston deposits, largely within 350 metres of surface. There is potential to grow these established deposits considerably at depth, and then grow resources further through the prioritized exploration of the more than 90 other identified regional targets. TMAC is now permitted to produce from both Madrid and Boston.

FORWARD-LOOKING INFORMATION

This release contains “forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations or comparable terminology.

“Forward-looking information” is not a guarantee of future performance and management bases forward-looking statements on a number of estimates and assumptions at the date the statements are made. Furthermore, such “forward-looking information” involves a variety of known and unknown risks, uncertainties and other factors, which may cause the actual plans, intentions, activities, results, performance or achievements expressed or implied. See “Risk Factors” in the Company’s Annual Information Form dated March 11, 2019 filed on SEDAR at www.sedar.com for a discussion of these risks.

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