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NorthIsle Copper and Gold Inc
Symbol NCX
Shares Issued 257,214,767
Close 2025-04-04 C$ 0.69
Market Cap C$ 177,478,189
Recent Sedar Documents

NorthIsle Copper and Gold appoints Davidson as director

2025-04-07 15:36 ET - News Release

Mr. Dale Corman reports

NORTHISLE APPOINTS ALEXANDER DAVIDSON TO BOARD OF DIRECTORS

NorthIsle Copper and Gold Inc. has appointed Alexander (Alex) Davidson to its board of directors, effective April 6, 2025.

Mr. Davidson stands as a globally acclaimed mining leader who brings more than four decades of mineral exploration and corporate development expertise to the company. During his time at Barrick Gold Corp. as executive vice-president of exploration and corporate development, he transformed the company into the top gold producer worldwide through important discoveries and strategic acquisitions.

Mr. Davidson's professional career includes leadership and contribution to multiple landmark discoveries such as Lagunas Norte, Pascua-Lama, Pierina and Veladero, along with significant involvement in Barrick's acquisitions of Lac Minerals, Homestake Mining and Placer Dome. Mr. Davidson received many industry honours for his achievements, including the PDAC (Prospectors and Developers Association of Canada) Prospector of the Year Award, the CIM's (Canadian Institute of Mining, Metallurgy and Petroleum) A.O. Dufresne Award, along with the SME's (Society for Mining, Metallurgy and Exploration) Charles F. Rand Gold Medal. The Canadian Mining Hall of Fame welcomed him as an inductee in 2023 for his extraordinary contributions to mining worldwide. In addition, Mr. Davidson and his wife are responsible for creating the Alex & Gillian Davidson Family Endowment for Indigenous Students in Canada, which provides support for students pursuing a three-year technical program or four-year university degree program in the mineral extraction and processing industries.

Mr. Davidson earned a BSc and an MSc in economic geology from McGill University and presently holds board positions at South Pacific Metals Corp. and Capital Ltd. and was previously a director of Pan American Silver, Yamana Gold (prior to its sale to Pan American) and Orca Gold (prior to its sale to Perseus Mining).

Dale Corman, chairman of NorthIsle, commented: "NorthIsle is thrilled to appoint Alex as a new member of our board of directors. Alex is legendary for his leadership in discovering, acquiring and selling some of the world's largest mineral deposits, which will be invaluable in our pursuit of unlocking our 35-kilometre porphyry district at the North Island project."

Sam Lee, president and chief executive officer, added: "Alex's knowledge of assets around the world is unmatched and we are honoured to be able to leverage his vast experience and influence. His strong belief in indigenous engagement driving the future success of mining in Canada is entirely congruent with our core values and is represented by the Alex and Gillian Davidson Family Endowment for Indigenous Students in Canada."

Mr. Davidson commented: "After a lifetime in this business, I've learned to pay attention when a project shows scale, grade and real economic horsepower, and NorthIsle's North Island project has all three. The recent PEA [preliminary economic assessment] confirms what the geology already hinted at: a long-life, low-cost copper-gold system with world-class upside. The 35-kilometre district hasn't been tapped yet, and that kind of prospectivity in a Tier 1 jurisdiction is increasingly rare. I'm excited to contribute to the next phase of value creation at NorthIsle."

Concurrently, the company has announced a $172,500 private placement (the "Placement") with Mr. Davidson for the purchase of 250,000 common shares at a price of 69 cents per common share. The closing of the placement is subject to entering into a customary subscription agreement and the receipt of approval of the TSX Venture Exchange. The shares issued pursuant to the placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws.

In addition, the board of directors has approved equity compensation for directors, executives and employees of the company. The equity compensation includes the issuance of 623,000 restricted share units pursuant to the company's share unit plan and 1,533,000 options to purchase common shares pursuant to the company's stock option plan. The RSUs will vest one-third per year commencing April 4, 2026, while the options will be issued with a strike price of 69 cents and a term of five years and will vest one-third per year commencing on April 4, 2025.

Further terms of the options and RSUs can be found in the stock option plan and share unit plan as filed on SEDAR+.

About NorthIsle Copper and Gold Inc.

NorthIsle Copper and Gold is a Vancouver-based company whose mission is to become Canada's leading sustainable mineral resource company for the future. NorthIsle, through its 100-per-cent-owned subsidiary, North Island Mining Corp., owns the North Island project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island project is located near Port Hardy, B.C., on a more-than-34,000-hectare block of mineral titles 100 per cent owned by NorthIsle stretching 50 kilometres northwest from the now-closed Island copper mine operated by BHP Billiton. Since 2021, the company has discovered two significant deposits, expanded resources and demonstrated the economic potential of the project, and it is now focused on accelerating the advancement of this compelling project while exploring within this highly prospective land package.

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