March 3, 2017 / Vancouver, BC – NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTC Pink GPOFF) (Frankfurt OGPN). The Company announces the issuance of 1.5 million escrowed bonus shares, and the reservation of 4.0 million performance shares, to recently appointed key management of NRG Metals Argentina S.A. The proposal was approved by the shareholders of the Company at the Annual General and Special Meeting held on December 30, 2016, and is subject to Exchange approval. The recipients are listed below.
The Company is also pleased to announce the appointment of Fernando E. Villarroel to the board of directors of the Company effective immediately. Mr. Villarroel is also Process Development Manager of NRG Metals Argentina S.A.
José Gustavo de Castro – Non-Executive Director
Mr. de Castro can earn 4 million performance shares, which will be issued upon completion of certain milestones which include the definition of a 43-101 lithium resource, the completion of a positive bankable feasibility study, and the commencement of commercial production, all subject to a management performance agreement. Mr. de Castro is a chemical engineer with extensive experience in the evaluation and development of Lithium projects. From 2010-2015 he was Country Manager for Orocobre Ltd., a major lithium producer, and he was responsible for the development of the US$300 million Salar de Olaroz Lithium Project, located in the province of Jujuy, Argentina, which is currently in production. He has held senior positions at FMC Corporation’s lithium operation in the Hombre Muerto salar in Catamarca province, Argentina, which is South America’s largest lithium operation, as well as management positions for Hochschild Mining, Anglo Gold Ashanti, and Meridian Gold Inc. He holds an MBA from the Institute for Executive Development, Antofagasta, Chile and an undergraduate degree from the University of Salta, Argentina.
The following key Argentina based management will each earn 500,000 common shares, subject to a 25% release each quarter. If during the escrow period, the holder becomes no longer involved with the Company, the remaining shares in escrow will be cancelled.
José Luis Martín – Manager of Business Development and Corporate Relations
Dr. Martín has over 35 years of experience in the mining industry, including exploration, development, operations and community and governmental relations. Dr. Martín was the Catamarca province representative for Galaxy Lithium S.A. from 2010 to 2013 where he participated in the development of the feasibility study for Galaxy’s Sal De Vida project in the Salar de Hombre Muerto. Previously he was the General Manager of the Aqua Rica porphyry copper project in Catamarca province for Rio Tinto during the feasibility study stage, and prior to that he worked as Senior Geologist in charge of project generation Argentina for Rio Tinto Mining and Exploration. From 1980 to 1993 he held various positions with St Joe Minerals, including Chief Geologist at the Aguilar lead-zinc-silver mine in Jujuy province. He holds a doctorate in geology from the University of Salta and an undergraduate degree in geology from the University of Cordoba, Argentina.
James K. Duff – Executive Director
Mr. Duff has over 40 years of diverse experience in international mining. He has been actively engaged in Argentina since the 1980s when he was the Chief Geologist at St. Joe Mineral’s Aguilar mine in Jujuy province. More recently, Mr. Duff was the Chief Operating Officer of Minera Andes (now McEwen Mining), which owns 49% of the San Jose gold-silver mine in Santa Cruz, Argentina and 100% of the Los Azules porphyry copper deposit in San Juan, Argentina. Before that, he was President of South American Operations for Coeur Mining, where he was responsible for Coeur’s mining operations in Argentina, Chile and Bolivia. Mr. Duff has also worked for Bond International Gold, St. Joe Minerals, the Bunker Hill Company, Copper Range Corporation and Newmont Mining Company. He holds BS and MS degrees in geology from the University of Idaho and the University of Nevada, respectively, and he completed the Program for Management Development at the Harvard School of Business. He is a Certified Professional Geologist and QP according to Canadian NI43-101 standards, and he has co-authored numerous 43-101 technical reports for mining projects in Argentina.
Fernando E. Villarroel – Manager Process Engineering
Mr. Villarroel has 12 years of experience in the mining industry in Argentina with a focus on Lithium Process Development. From 2009 to 2013 he worked with Lithium Americas Corp. / Minera Exar S.A. as Project Manager which included construction management and commissioning of the initial pilot evaporation facilities and laboratory at the Cauchari Olaroz Lithium Project. His private consulting company is currently developing the pilot test facility for the Mariana Lithium Project in Argentina. He holds a degree in Industrial Engineering and has specialized training in Data Modeling and Analysis for Business and Engineering from M.I.T.
President and CEO Adrian F.C. Hobkirk is quoted: “We are very pleased to have attracted a highly experienced and successful lithium team to NRG Metals Inc. They have a broad range of experience in the acquisition, exploration and development to production of lithium projects in Argentina. We look forward to working collectively to make our Carachi Pampa Lithium Project a success, and to attract other lithium opportunities to the Company.”
On Behalf of the Board of Directors
President, CEO and Director
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbor.