Batero Gold Announces Strategic Board and Management Changes

Rhea-AI Summary

Batero Gold Corp. (BELDF) has announced significant changes to its leadership team. Diego Heilbrunn Navarro-Grau has been appointed as the new CEO and Director, replacing Gonzalo de Losada. Gustavo Noriega Bentin takes over as CFO and Corporate Secretary, succeeding Ivo Bravo. The company has also added Luis Garcia Rosell A. to its Board, expanding it from three to four directors. Heilbrunn, who is a director of Antioquia Gold Inc. and former CEO of Grupo HNG, expressed optimism about advancing the company's La Cumbre Gold Project in Risaralda, Colombia, particularly given current record-high gold prices. The new management team brings extensive experience in mining operations, technology, services, and corporate leadership across Latin America.

Positive

• Strategic leadership renewal with experienced executives from successful mining and business backgrounds
• Board expansion from three to four directors, strengthening corporate governance
• New CEO has relevant mining industry experience as director of Antioquia Gold Inc.
• Company well-positioned to benefit from record-high gold prices

Negative

• Simultaneous departure of both CEO and CFO could lead to temporary operational disruption
• New management team needs to prove execution capabilities in advancing La Cumbre Gold Project

Vancouver, British Columbia--(Newsfile Corp. - May 2, 2025) - Batero Gold Corp. (TSXV: BAT) (FSE: 68B) (OTC Pink: BELDF) (the "Company" or "Batero") is pleased to announce a strategic change to its senior leadership team and to its board of directors ("Board"). Mr. Ivo Bravo has stepped down as the Company's Chief Financial Officer and Corporate Secretary and Mr. Gonzalo de Losada has stepped down as Chief Executive Officer and President of the Company and has resigned from the Board.

The Company welcomes Diego Heilbrunn Navarro-Grau to the role of Chief Executive Officer and Director of the Company and Gustavo Noriega Bentin to the role of Chief Financial Officer and Corporate Secretary of the Company. "I'm excited to take on the role of CEO and work alongside Gustavo and the Board as we enter into a new phase of development," said Mr. Heilbrunn. "Batero is well positioned in the current market with gold prices at all time highs, and I look forward to advancing the Company's La Cumbre Gold Project in Risaralda, Colombia."

Mr. Heilbrunn is a director of Antioquia Gold Inc., a mining company with operating mines in Peru and Colombia, and the former CEO and current director of Grupo HNG, a Peruvian business group with controlling and non-controlling interests in companies across technology, services, education, infrastructure and industrial sectors. Mr Bentin is the current Chief Financial Officer of Antioquia Gold Inc. and a former director of Ferreycorp, a leading Peruvian corporation dedicated to the provision of heavy machinery and specialized services in Peru.

The Company also welcomes Luis Garcia Rosell A. to its Board. Mr. Rosell has extensive corporate experience in leading national and multinational business groups, and was the general manager and Executive Chairman of the Board of Petroperú, a Peruvian state-owned enterprise dedicated to the transportation, refining, distribution and commercialization of fuels and other petroleum products. The appointment of Mr. Rosell to the Board increases the size of the Board from three to four directors.

The Company wishes to thank Mr. Gonzalo de Losada and Mr. Ivo Bravo for their work with the Company over the years and wishes them all the best with their future endeavours.

ON BEHALF OF THE BOARD

Diego Heilbrunn Navarro-Grau
Chief Executive Officer
Batero Gold Corp.

For further information please contact:
Batero Gold Corp.
Email: info@mquinchia.com
www.baterogold.com

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 press release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as "forward-looking statements"). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements in this news release include statements regarding the gold market, gold price and future development of the Company's La Cumbre Gold Project in Risaralda, Colombia.

By their nature, forward-looking statements and information involve assumptions, inherent risks and uncertainties, many of which are difficult to predict and are usually beyond the control of management, that could cause actual results to be materially different from those expressed by these forward-looking statements and information. Forward-looking information and statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to several known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The Company believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Readers and investors should not place undue reliance on such statements.

Certain risks which could impact the Company are discussed under the heading "Risks and Uncertainties" in the Company's most recent MD&A available at SEDAR+ at www.sedarplus.ca. Forward-looking information and statements contained in this news release are made as of the date of this news release and accordingly are subject to change after such date. Except as required by law, the Company disclaims any obligation to revise any forward-looking information and statements to reflect events or circumstances after the date of such information and statements. All forward-looking information and statements contained or incorporated by reference in this news release are qualified by the foregoing cautionary statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250667

FAQ

Who is the new CEO of Batero Gold (BELDF) and what is his background?

Diego Heilbrunn Navarro-Grau is the new CEO of Batero Gold. He is a director of Antioquia Gold Inc. and former CEO of Grupo HNG, bringing experience in mining operations and business leadership across various sectors including technology, services, and infrastructure.

What management changes did Batero Gold (BELDF) announce in May 2025?

Batero Gold announced that Diego Heilbrunn Navarro-Grau replaced Gonzalo de Losada as CEO, Gustavo Noriega Bentin replaced Ivo Bravo as CFO, and Luis Garcia Rosell A. joined the Board as a new director.

What is Batero Gold's (BELDF) main project and where is it located?

Batero Gold's main project is the La Cumbre Gold Project, located in Risaralda, Colombia.

How has the Board composition of Batero Gold (BELDF) changed?

The Board has expanded from three to four directors with the addition of Luis Garcia Rosell A., who brings extensive corporate experience including leadership at Petroperú.