Kingston, Ontario–(Newsfile Corp. – July 31, 2023) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) (“Delta” or “The Company”) is pleased to announce the appointment of Justin Reid to its Board of Directors.
Mr. Reid is a geologist and capital markets executive with over 25 years of experience focused exclusively on the mineral resource space. Mr. Reid started his career as a geologist with the Saskatchewan Geological Survey and Cominco Global Exploration after which he became a partner and senior mining analyst at Sprott/Cormark Securities in Toronto. He was then named Executive General Manager at Paladin Energy, where he was responsible for leading all merger and acquisition, corporate and market related activities. He is the former Managing Director Global Mining Sales at National Bank Financial, where he directed the firm’s sales and trading in the mining sector. He acted as President and Director of Sulliden Gold Corporation, until its acquisition by Rio Alto Mining in 2014. Currently, Mr. Reid is the founder and Chief Executive Officer of Troilus Gold Corp. (“Troilus”). He holds a B.Sc from the University of Regina, a M.Sc from the University of Toronto and an MBA from the Kellogg School of Management at Northwestern University. Mr. Reid holds the designation of Independent Corporate Director (ICD.D) received in 2023 from the Institute of Corporate Directors via The Rotman School of Business at the University of Toronto.
“We would like to welcome Mr. Reid to our Board of Directors. We are very pleased to be adding his extensive experience in managing all facets of an exploration company as well as his deep knowledge of the capital markets to our Board during our next stage of growth,” stated Frank Candido, Chairman, Delta Resources Limited.
As announced on December 15, 2022, Troilus Gold Corp. subscribed for 3,000,000 units of Delta. As a result of Mr. Reid’s position as CEO of Troilus, these units will now be considered insider ownership and will be reported as such. Mr. Reid control directly and indirectly 3,586,111 shares of Delta not accounting for warrants and options.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
- DELTA-1 covers approximately 107 square kilometres located 50 kilometres west of Thunder Bay, Ontario where a gold mineralized zone 950 metres long was outlined through drilling in a multi-kilometre-scale intense alteration halo. Best grades to date include a drill intercept of 14.8 g/t Au over 11.9 metres, within a broader interval of 5.92 g/t Au over 31 m. The zone is open in all directions.
- DELTA-2 VMS and DELTA-2 GOLD covers 194 square kilometres in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
President and CEO
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Andre C. Tessier, CEO and President
Frank Candido, Chairman
Vice-President Corporate Communications
Cautionary Note Regarding Forward Looking Information
Some statements contained in this news release are “forward looking information” within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Forward-looking information and statements in this news release include, but are not limited to, information or statements with respect to: the repurchase of NSR royalties relating to the exploration properties, the results of exploration on the properties, and the ability and timing of Delta to purchase the exploration property subject to a lease. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially, including but not limited to: risks related to operations; risks related to current global financial conditions; actual results of current exploration activities; environmental risks; future prices of gold; possible variations in grade or recovery rates; and accidents, labor disputes and other risks of the mining. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any time or in response to any particular event.