GGL Resources Corp. Announces Board and Management Changes

Rhea-AI Summary

GGL Resources Corp (TSXV:GGL) has announced significant leadership changes, with John Gilbert appointed as permanent CEO and Director, replacing interim CEO Matthew Turner, who will remain as a Director. Gilbert brings extensive geological expertise with a Master's in structural geology from the University of Vermont and experience leading exploration programs.

Gilbert's background includes roles as a geological and geophysical technician, working on projects across Alaska, Yukon, Nevada, California, and New York. He previously served as VP of Exploration and Corporate Development at Silver Range Resources and managed a private exploration company focused on gold projects in New Brunswick.

The company has granted Gilbert 500,000 incentive stock options at $0.06 per share, exercisable over five years, with a 25% quarterly vesting schedule during the first year.

Positive

• Appointment of permanent CEO with strong technical background in geology
• New CEO has relevant experience in similar geological regions
• Previous interim CEO remains on board ensuring leadership continuity

Negative

• Stock options grant represents potential dilution for shareholders
• New CEO lacks previous experience as chief executive of a public company

VANCOUVER, BC / ACCESS Newswire / March 12, 2025 / GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") is pleased to announce an immediate addition to its Board of Directors and permanent CEO position.

Effective immediately, Matthew Turner, interim CEO, will be replaced on a permanent basis by John Gilbert, M.Sc. Mr. Gilbert has concurrently been appointed a Director of GGL. Mr. Turner will remain as a Director of GGL.

"It is my pleasure to introduce John as the new CEO of GGL and also welcome him to the Board of Directors," stated Matthew Turner, GGL's outgoing Interim CEO. "John's considerable technical background as a structural geologist, track record of leading successful exploration programs to discovery and particular passion for GGL's flagship project, Gold Point, makes him uniquely suited for the role. We look forward to seeing GGL succeed under John's leadership."

Mr. Gilbert received a Bachelor of Science (Geology) degree from the University of Massachusetts - Amherst and a Masters of Science degree specializing in structural geology from the University of Vermont. Since 2008 he has worked as a geological and geophysical technician and as an exploration and mine geologist on projects in Alaska, Yukon, Nevada, California, and New York as project geologist for companies including Titan Mining and Snowline Gold. Most recently, Mr. Gilbert served as Vice President - Exploration and Corporate Development for Silver Range Resources Ltd., a Nevada gold-focused project generator. He also ran a successful private exploration company which acquired, explored and vended gold projects in New Brunswick.

GGL Resources has granted incentive stock options under its Incentive Stock Option Plan to Mr. Gilbert with the right to purchase up to an aggregate 500,000 GGL shares at a price of $0.06 per share for a period of five years. All these options are subject to vesting provisions under which 25% of the options will vest at the conclusion of each three months during the first year of the exercise period.

About GGL Resources Corp.

GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under-evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has optioned and wholly owned claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, five of which host past producing high-grade mines, as well as an exciting new porphyry target which is currently under option to Teck. The Company also owns the McConnell Project, which hosts mesothermal gold veins and an under explored porphyry copper-gold prospect in the Kemess District of north-central British Columbia. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine and southwest of the Ekati diamond mine in the Northwest Territories.

ON BEHALF OF THE BOARD

"Matthew Turner"

Matthew Turner
Director

For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:

Investor Inquiries

Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com

Corporate Information

Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.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 release.

Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "succeed", "advancements", "under-evaluated" and similar expressions, or that events or conditions "may", "could" or "will" occur. GGL cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL profile at www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: GGL Resources Corp.

View the original press release on ACCESS Newswire

FAQ

What experience does John Gilbert bring as the new CEO of GGLXF?

John Gilbert brings a Master's in structural geology, experience leading exploration programs, and has worked on projects across North America, including roles at Titan Mining and Snowline Gold.

How many stock options were granted to the new GGLXF CEO and at what price?

GGL granted John Gilbert 500,000 stock options at $0.06 per share, exercisable over 5 years with quarterly vesting over the first year.

What is the vesting schedule for the new GGLXF CEO's stock options?

The options vest 25% quarterly over the first year of the exercise period.

What positions did John Gilbert hold before joining GGLXF as CEO?

Gilbert was VP of Exploration and Corporate Development at Silver Range Resources and ran a private exploration company focused on gold projects in New Brunswick.