Mr. Frank Candido reports
DELTA APPOINTS ZACH FLOOD AND JOSEPH C. MILBOURNE TO ITS BOARD OF DIRECTORS AND GRANTS OPTIONS
Delta Resources Ltd. has appointed Zach Flood and Joseph C. Milbourne to its board of directors.
Mr. Flood is an experienced geologist with a broad international background in mineral exploration across Asia, Africa and the Americas. He co-founded Kenorland Minerals Ltd. in 2016 and has since led the company's growth into a premier project-generation and royalty company. Mr. Flood is also executive chairman of Koulou Gold Corp., a private exploration company focused on early-stage exploration in Ivory Coast.
Mr. Milbourne is a highly experienced metallurgist and mining executive with more than 50 years of experience in metallurgy, mineral processing, process engineering and technical project evaluation. Mr. Milbourne has held senior technical and operational positions with Troilus Mining Corp., Belo Sun Mining Corp., Sulliden Gold Corp., Amec Mining & Metals, Eldorado Gold, Cominco, and other international mining organizations. His experience encompasses the development, design, evaluation, optimization and management of mineral processing projects throughout the Americas, with particular expertise in gold and base-metal projects. Mr. Milbourne holds a BS in metallurgical engineering from the New Mexico Institute of Mining and Technology and an MS in Metallurgy from the University of Utah. He is a fellow of the Australasian Institute of Mining and Metallurgy and a registered member of the Society for Mining, Metallurgy & Exploration and has acted as a qualified person pursuant to National Instrument 43-101.
Ron Kopas, chief executive officer of Delta, commented: "We are extremely pleased to welcome Zach Flood and Joseph Milbourne to Delta's board of directors," said Ron Kopas, chief executive officer of Delta Resources. "Zach brings a rare combination of exceptional technical expertise and deep capital markets experience that will be invaluable as we continue to advance our gold project in Thunder Bay and work to maximize the value of this evolving asset for our shareholders. Joe's more than 50 years of technical experience, particularly his extensive expertise in metallurgy, mineral processing and mine development, adds another important dimension to our board. Together, their experience significantly strengthens Delta's technical and strategic capabilities as we advance the Eureka gold deposit and unlock the broader exploration potential of our large and highly prospective Thunder Bay land package. Their assessment and belief in Delta's potential is strong validation and appreciated; we are adding significant bench strength to our team."
Mr. Flood commented: "I am very pleased to join the board of Delta Resources at such an exciting stage in the company's evolution. Delta has assembled a large, highly prospective land position in an emerging gold district, anchored by the growing Eureka gold deposit. I believe the scale of the opportunity at Delta is only beginning to be recognized, and I look forward to contributing my experience in exploration and capital markets to help the team advance the project strategically and maximize value for shareholders."
Mr. Milbourne commented: "I am delighted to join Delta's board and to have the opportunity to contribute to the continued advancement of the company's Thunder Bay gold project. I have spent much of my career evaluating and advancing mineral projects from the technical and metallurgical perspective, and I believe that experience can be particularly valuable as Delta moves through the next stages of its development. The scale and exploration potential of Delta's land package, together with the progress being made at the Eureka gold deposit, make this a very exciting project. I look forward to working with the board and management team to help guide the technical decisions that can create long-term value for Delta and its shareholders."
Mr. Flood and Mr. Milbourne will also be joining Delta's technical committee headed by Dr. Kevin B. Heather, a current Delta board member.
Stock option grant
Delta has granted 2.1 million stock options to management, the board of directors and employees. The options are exercisable at 24.5 cents for five years from the date of the grant and vest over a period of 24 months with 25 per cent of the options vesting every six months.
Qualified person
Daniel Boudreau, PGeo, vice-president of exploration at Delta Resources, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
About Delta Resources Ltd.
Delta Resources is a Canadian mineral exploration and development company focused on advancing its Delta-1 gold project in Ontario. The company has identified a large, near-surface gold system located approximately 50 kilometres west of Thunder Bay, adjacent to the Trans-Canada Highway. The Delta-1 property covers approximately 340 square kilometres and hosts multiple gold-bearing corridors, including the Eureka gold deposit and the highly prospective I-Zone/Crayfish Creek fault trend.
The Eureka gold deposit extends over 2.5 kilometres in strike length and to depths exceeding 300 metres, with mineralization intersected to approximately 600 metres vertical depth and remaining open in all directions. Highlights include drill intercepts such as 5.92 grams per tonne gold over 31 metres (including 14.8 grams per tonne gold over 11.9 metres) and 1.79 grams per tonne gold over 128.5 metres.
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