Great Pacific Gold Provides Management and Board Update
Rhea-AI Summary
Great Pacific Gold (OTCQX: GPGCF, TSXV: GPAC) announced multiple board and management changes effective August 1, 2026. Jason Gregg joins the Board as an independent director and will chair the new Compensation, Nominating and Governance Committee. Greg McCunn becomes Executive Chair, while former Chair Charles Hethey remains Director and Corporate Secretary.
Alex Heath will serve as Chief Executive Officer and Director, Callum Spink is promoted to COO and Vice President Exploration, and Sam Wong is appointed Chief Financial Officer. According to Great Pacific Gold, the company holds over $22 million in cash and is operating two drill rigs at its Wild Dog Project in Papua New Guinea.
Under its annual long-term incentive plan, the Board granted 725,000 stock options exercisable at $0.45 per share for five years and 565,000 restricted share units, each RSU convertible into one common share. Both options and RSUs vest 50% on the first and 50% on the second anniversary of the grant date.
Positive
- Board and C-suite refreshed with new CEO, CFO and COO effective August 1, 2026
- Formation of Compensation, Nominating and Governance Committee chaired by independent director Jason Gregg
- Company reports over $22 million in cash to support operations and exploration
- Two diamond drill rigs active on multiple high-priority targets at Wild Dog Project
- Grant of 725,000 options at $0.45 and 565,000 RSUs aligns key personnel incentives with equity performance
Negative
- None.
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Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: GPGCF) (FSE: 0B3) ("Great Pacific Gold", "GPAC", or the "Company") is pleased to announce the appointment of Jason Gregg to its Board of Directors. In addition, Greg McCunn will assume the role of Executive Chair of the Board and current Board Chair, Charles Hethey, will remain as Director and Corporate Secretary.
These changes strengthen the independence of GPAC's board and broaden the board's skill set, particularly with respect to corporate governance and compensation. In conjunction with Mr. Gregg's appointment, the Board has formed a Compensation, Nominating and Governance Committee (the "CNGC") to be chaired by Mr. Gregg. The Company has also updated its suite of governance policies in line with industry best practises which can be found on the Company's website. Great Pacific Gold's Board now consists of:
Greg McCunn, Executive Chair – B.A.Sc. Metallurgical Engineering, MBA. Former CEO at Alio Gold and Galiano Gold. Track record of financing and building mines. 30 years of experience in mining.
Charles Hethey, Director and Corporate Secretary – Securities Lawyer in British Columbia and New York. Numerous clients in mining, energy, and oil and gas.
Robert McMorran – Independent Director – Chartered Professional Accountant. 35 years' experience in the mining industry. Founder Malaspina Consultants. Held numerous CFO roles.
Chris Muller – Independent Director – B.A.Sc. Geology, PhD. Over 20 years' experience in Papua New Guinea, Ghana, Mongolia, China, and Thailand. Formerly VP Exploration K92 Mining and currently CEO Tolu Minerals.
Jason Gregg – Independent Director – BBA, MBA. Human resource professional with over 25 years experience in mining and forest products. Compensation and corporate governance specialist.
Following his election to the Board at the Company's last annual general meeting, Alex Heath will assume the role of Chief Executive Officer and Director of the Company. The Company's current Vice President Exploration, Callum Spink, will be promoted to COO and Vice President Exploration, and assume responsibility for all operating and technical functions of the Company. Sam Wong, who is currently the Company's financial reporting advisor, will be appointed as Chief Financial Officer. Mr. Spink and Mr. Heath will continue to report to Greg McCunn, Executive Chair, and the Board of Directors. All changes and appointments have been made effective August 1, 2026.
"We are pleased to add Jason to our Board, rounding out the board's skill set and improving the board's independence," stated Greg McCunn, Executive Chair. "The promotion of Callum and Alex reflect the level of commitment both have made to the Company in the past 18 months. With over
Long Term Incentive Grants
The Company also announces that, pursuant to its annual long-term incentive plan, the Board of Directors has granted 725,000 incentive stock options ("Options") and 565,000 restricted share units ("RSUs") to certain officers, directors, key employees and consultants.
The Options are exercisable at a price of
On behalf of Great Pacific Gold:
Greg McCunn
Executive Chair
For further information, visit gpacgold.com or contact:
Investor Relations
Phone +1-778-262-2331
Email: info@gpacgold.com
About Great Pacific Gold
Great Pacific Gold's vision is to become the leading gold-copper development company in Papua New Guinea ("PNG") by focusing on its flagship Wild Dog Project.
Wild Dog is located on the island of New Britain in the East New Britain Province of PNG. The Project consists of a large-scale epithermal target, the Wild Dog structural corridor, stretching 15 km in strike length and potentially over 1,000 metres deep based on historical exploration work, recent field exploration work, drilling by the Company and MobileMT geophysics and LiDAR surveys of the property completed in 2025. The epithermal targets have yielded numerous high-grade gold-copper drill results. The Company has a drilling crew with two diamond drill rigs on the property focused on building resources, as well as a field exploration crew working on advancing a pipeline of targets. Wild Dog also has district-scale porphyry potential with the high-priority Magiabe porphyry target, adjacent to the epithermal corridor.
In addition, the Company holds a portfolio of other projects in PNG including strategic land positions in the Kesar and Arau Projects, both located in the Eastern Highlands Province of PNG and contiguous with the mine tenements of K92 Mining Inc. ("K92"). The Company also holds the Tinga Valley Project in western PNG.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Great Pacific Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, most of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Great Pacific Gold's limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. 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, Great Pacific Gold does not undertake to publicly update or revise forward-looking information.
Mineralization at the properties held by K92 Mining Inc. and at the Wafi-Golpu deposit is not necessarily indicative of mineralization at the Wild Dog Project.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307493