Maple Gold Appoints New Chief Financial Officer to Management Team

Rhea-AI Summary

Maple Gold Mines has appointed Nicholas (Nick) Furber as its new Chief Financial Officer, effective immediately. Furber brings over 25 years of experience in financial services, including 10 years as CFO of Dynasty Metals & Mining during its evolution from exploration to production. He previously worked at PricewaterhouseCoopers, specializing in accounting, mergers & acquisitions. The company has also granted 850,000 stock options at $0.055 per share to employees, officers, and consultants, exercisable for five years once vested. Former interim CFO Michael Rukus will continue with the company in another role.

Positive

• Appointment of experienced CFO with mining industry expertise
• New CFO has track record of guiding companies from exploration to production
• Continuity maintained with former interim CFO remaining with company

Negative

• Dilutive effect of 850,000 new stock options issued

Vancouver, British Columbia--(Newsfile Corp. - November 21, 2024) - Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) ("Maple Gold" or the "Company") is pleased to announce the appointment of Mr. Nicholas (Nick) Furber, CA (ICAEW), CFA to the role of Chief Financial Officer ("CFO"), effective immediately. Mr. Furber is a seasoned CFO with strategic capital markets experience in growth-oriented businesses within the mining industry. He will be assuming the CFO responsibilities from Mr. Michael Rukus, CGA, CPA who will continue with the Company in another role.

"I am delighted to welcome Nick Furber to our senior management team and look forward to his contributions as the Company enters an exciting new phase of growth," stated Kiran Patankar, President and CEO of Maple Gold. "His prior experience as CFO helping to guide mining companies from exploration, through development and into production will help drive ongoing value creation for Maple Gold shareholders. I would also like to thank Michael Rukus for his diligent work and stewardship of our finances during his time as Interim CFO and look forward to the continuity he will provide in his ongoing role with the Company."

Nick Furber, CA (ICAEW), CFA - CFO

Nick Furber, CA (ICAEW), CFA is senior financial professional with over 25 years of experience providing consulting, management and financial advisory services for private and publicly traded companies, primarily focused in the mining industry. This included 10 years as CFO and Corporate Secretary of Dynasty Metals & Mining Inc. ("Dynasty") when Dynasty evolved from gold exploration into a producer listed on the Toronto Stock Exchange ("TSX"). Mr. Furber also brings over 10 years of accounting, mergers & acquisitions, valuations and due diligence experience in a variety of industries gained while working at PricewaterhouseCoopers. Mr. Furber was educated in the United Kingdom and has his Chartered Accountant (ICAEW) and Chartered Financial Analyst designations.

Stock Option Issuance

The Company's Board of Directors has approved the grant of stock options ("Options") to purchase an aggregate of 850,000 common shares of the Company (each, a "Common Share") with an exercise price of $0.055 per Common Share to certain employees, officers, and consultants. Once vested, each Option is exercisable into one Common Share for a period of five years from the grant date. The Company's Equity Incentive Plan (the "Plan") governs these Options, as well as the terms and conditions of their exercise, which is in accordance with policies of the TSX Venture Exchange. Further details regarding the Plan are set out in the Company's Management Information Circular filed on July 26, 2024, which is available on SEDAR+.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing the district-scale Douay and Joutel gold projects located in Québec's prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km² of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining complex.

Maple Gold's property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the property ripe for new gold and polymetallic discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

"Kiran Patankar"

Kiran Patankar, President & CEO

For Further Information Please Contact:

Mr. Kiran Patankar
President & CEO
Tel: 604.639.2536
Email: kpatankar@maplegoldmines.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.

Forward Looking Statements and Cautionary Notes:

This news release contains "forward-looking information" and "forward-looking statements" (collectively referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include, but are not limited to, statements about the resource expansion and discovery potential across the Company's gold projects, and its intention to pursue such potential, and the Company's exploration work and results from current and future work programs. Although the Company believes that forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to be correct, as forward-looking statements are based on assumptions, uncertainties and management's best estimate of future events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or results could differ materially from the Company's expectations and projections, and readers are cautioned not to place undue reliance on forward-looking statements. For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company's filings with Canadian securities regulators available on the System for Electronic Document Analysis and Retrieval Plus (SEDAR+) at www.sedarplus.ca or the Company's website at www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSX Venture Exchange, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230947

FAQ

Who is the new CFO of Maple Gold Mines (MGMLF)?

Nicholas (Nick) Furber, CA (ICAEW), CFA has been appointed as the new Chief Financial Officer of Maple Gold Mines, effective immediately.

What is the exercise price of Maple Gold Mines' (MGMLF) newly issued stock options?

The stock options were issued with an exercise price of $0.055 per Common Share.

How many stock options did Maple Gold Mines (MGMLF) grant in November 2024?

Maple Gold Mines granted 850,000 stock options to employees, officers, and consultants.

What is Nick Furber's previous experience before joining Maple Gold Mines (MGMLF)?

Nick Furber has over 25 years of experience, including 10 years as CFO of Dynasty Metals & Mining and over 10 years at PricewaterhouseCoopers in accounting, mergers & acquisitions.