Lavras Gold Announces the Appointment of Federico G. Velásquez as President and CEO
Rhea-AI Summary
Lavras Gold (OTCQX:LGCFF) appointed Federico G. Velásquez as President and CEO, effective immediately, succeeding Interim CEO Hemdat Sawh, who returns to his CFO role.
Velásquez brings 20+ years of global mining experience, strong Latin American permitting background, and received 600,000 stock options at C$2.20, vesting over three years.
Positive
- Experienced mining executive appointed President and CEO effective immediately
- Background leading Latin American exploration, permitting and development projects
- 600,000 stock options at C$2.20 align new CEO incentives with performance
Negative
- Grant of 600,000 stock options introduces potential future share dilution
News Market Reaction – LGCFF
In the Jun 1 session, LGCFF gained 7.41%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - June 1, 2026) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") is pleased to announce the appointment of Federico G. Velásquez as the Company's President and CEO, effective immediately. Mr. Velásquez succeeds Hemdat Sawh, who served as Interim CEO during the executive search process. Mr. Sawh will continue in his permanent role as Chief Financial Officer.
Mr. Velásquez is an accomplished metals and mining professional with over 20 years of international experience and a proven track record of leading operational, corporate, regulatory and social performance strategies. Most recently, he worked with the Augusta Group, serving as a Board member and President-Peru at Highlander Silver Corp, where he contributed to the growth of the San Luis silver-gold project, via the execution of various corporate initiatives (multiple equity financings, TSX uplisting and the strategic transaction of Bear Creek Mining Corp.) and its ongoing exploration drill program, helping grow Highlander to a market capitalization of more than
His extensive career also includes senior leadership roles at Augusta Group's Solaris Resources, where he served as President of Latin American Operations and Vice President of Operations, leading several key initiatives related to their renowned flagship Warintza copper-gold project based in Ecuador, including the preparation and submission of the environmental impact assessment for the construction of the Warintza project, impact and benefits agreements, multiple equity financings, and the execution of its exploration drill programs.
"We are excited to have Federico lead the team as we advance the Lavras do Sul Project and embark upon our path towards development," said Rowland Uloth, Chairman of Lavras Gold. "Federico is a proven leader having worked for large teams as well as dynamic growth companies, which will be the perfect mix needed as we continue to advance the Company through the permitting process in Brazil. His extensive experience in Latin America brings the perspective we need to fully unlock the potential of our district-scale gold system in Brazil and deliver long-term value to our shareholders."
"On behalf of the Board, I would also like to thank Hemdat Sawh for stepping into the Interim CEO role at an important juncture," continued Mr. Uloth. "Hemdat's leadership was vital during this transition period, as it allowed us to advance exploration and permitting work and remain on track with key deliverables and timelines. We are delighted to have Hemdat continuing in his role as CFO."
"I am honoured to take on this role and grateful to the Board for its confidence in me," commented Mr. Velásquez, incoming President and CEO of Lavras Gold. "I acknowledge the impressive efforts of Hemdat Sawh, and the broader team, in positioning the Company for this important stage of growth. The opportunity to lead Lavras Gold's next phase is meaningful to me, given my operational, permitting and social licence management experience. I am ready and motivated to lead the team in achieving our permitting and development goals, as we strive to unlock further resource upside from our 21,000 hectares district-scale gold system in Brazil."
Mr. Velásquez's professional background includes leading global corporate affairs for Equinox Gold (2018) and Anglo American - Metallurgical Coal (2012-2017) where he led the permitting process of the successfully approved Roman Mine in British Columbia, Canada. Mr. Velásquez has established an international proven track-record, building common ground among governments, policymakers, stakeholders and the private sector with the intent of pursuing economic development of rural areas through responsible resource management. Federico has served on several executive committees of the Mining Association of Ecuador (2020-2025), Canada (2014-2016), Queensland (2017) and British Columbia (2014-2016).
Lavras Gold has issued incentive stock options to purchase an aggregate of 600,000 common shares (the "Common Shares") of the Company at a price of C
About Lavras Gold Corp.
Lavras Gold is a Canadian exploration company focused on realizing the potential of its Lavras do Sul ("LDS") Project situated in a highly prospective gold district in southern Brazil. The LDS Project is located near the town of Lavras do Sul in the state of Rio Grande do Sul, Brazil and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the LDS Project properties, which span more than 21,000 hectares. For more information on Lavras Gold visit www.lavrasgold.com.
On Behalf of Lavras Gold Corp.
"Hemdat Sawh"
CFO
Hemdat Sawh, CFO
Phone: +1-289-624-1375
Email: investor@lavrasgold.com
Website: www.lavrasgold.com
Disclaimer: 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.
Forward-looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties, including regarding the Company's plans to carry out work, complete a technical report and a PEA. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299574