Press Releases

Brunswick Exploration Announces Management Changes

MONTREAL, Nov. 09, 2020 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (“BRW” or the “Company”) is pleased to announce that the Board of Directors has appointed Robert Wares, currently Chairman, as Chief Executive Officer of the Company, and Killian Charles as President of the Company.

Mr. Charles currently works for Osisko Metals Inc., a zinc development company, and worked previously worked for Integra Gold Inc., a gold development company. Mr. Charles also worked as a mining analyst for IAS Capital Markets and Laurentian Bank Securities covering the junior and small-cap producer mining market. Mr. Charles is a graduate of McGill University in Earth and Planetary Sciences. It is expected that he will continue in his role as Vice President Corporate Development at Osisko Metals Inc. during a transition period of approximately six months.

Robert Wares, Chairman and CEO, commented: “On behalf of Brunswick, I am pleased to welcome Killian as President of the Corporation, his expertise will be invaluable as we develop Brunswick Exploration as a leading explorer of base and precious metals in Eastern Canada.”

Mr. Killian Charles, President of BRW, commented: “I am very excited to join Brunswick Exploration as the Company completes its transition to an Eastern Canada-focused exploration company. We have been building a highly prospective portfolio of projects over the last six months at BRW including the recently announced Fundy Gold project, an option on Osisko Metals’ BMC project, both in New Brunswick and the base metal Waconichi project in Quebec. We strongly believe that reserve depletion in all metallic commodities is a key theme for the next decade and we are positioning BRW to take full advantage of the emerging opportunities.”

In addition, the Corporation granted 300,000 options (“Options”) to purchase common shares (“Common Shares”) of the Corporation, to the newly appointed President, at an exercise price of $0.195 per Common Share. The Options will vest in equal quarters on each anniversary of this grant in the first four years and are exercisable at any time following vesting for a five-year term.

As of today, a total of 3,900,000 Options have been granted pursuant to the Corporation’s Stock Option Plan, representing 3.3% of issued and outstanding shares of the Corporation.

About Brunswick Exploration

The Company, formerly Komet Resources Inc., is part of the Osisko Group of companies and is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. It has put its former African assets for sale and is now focused on exploration and development of gold and base metal properties in Eastern Canada. Current projects include gold-polymetallic vein systems in southern New Brunswick (Fundy Gold Project) and base metals VMS in the Bathurst Mining Camp in northern New Brunswick and in the Chibougamau region of Quebec (Waconichi).

Investor Relations/Information

Mr. Killian Charles, President, (info@brwexplo.ca)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the 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 news release.