Pacific Bay Appoints Elton Pereira as VP Exploration

Rhea-AI Summary

Pacific Bay Minerals (TSXV: PBMFF) has appointed Elton L.S. Pereira as Vice President Exploration. Mr. Pereira, a Brazilian geologist, brings extensive international experience in mining exploration. He led the development of Brazauro Resources Corp.'s Tocantinzinho Gold Project in Brazil, which was sold to Eldorado Gold Corp. in 2010. He also spearheaded the discovery of TriStar Gold's Castelo de Sonhos gold project and has recently worked on nickel-copper-cobalt deposits in Bahia State, Brazil.

The appointment aligns with Pacific Bay's new focus on acquiring precious metal and critical mineral exploration projects in Brazil. As part of his compensation, Mr. Pereira will receive 500,000 incentive stock options at an exercise price of $0.05 per share, expiring in 3 years.

Positive

• Appointment of experienced geologist Elton Pereira as VP Exploration
• New strategic focus on precious metal and critical mineral exploration in Brazil
• Pereira's track record includes successful development of major gold projects in Brazil

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Pacific Bay Minerals Ltd (TSXV: PBM) ("Pacific Bay" or the "Company"), is pleased to announce that the Company has appointed Brazilian geologist Elton L.S. Pereira as Vice President Exploration, effective immediately.

Mr. Pereira brings to Pacific Bay a wealth of international success in the mining exploration industry.

Mr. Pereira led the development of Brazauro Resources Corp.'s Tocantinzinho Gold Project, which was the first major discovery in the now prolific Tapajós Mineral Province in Brazil. Tocantinzinho was subsequently sold to Eldorado Gold Corp. in 2010, which is currently under construction by G Mining Ventures.

Following this achievement, Mr. Pereira spearheaded the discovery and development of the Castelo de Sonhos gold project, owned by TriStar Gold Inc. More recently, he has contributed to the development of multiple nickel-copper-cobalt deposits in Bahia State, Brazil, through his work with Appian Capital Advisory and Bahia Nickel Mineração.

Mr. Pereira earned a M.Sc. in Geology from the University of Ouro Preto, Minas Gerais, Brazil.

"Management of the Company has decided to direct attention to the acquisition of precious metal and critical mineral exploration projects in Brazil, and Mr. Pereira brings with him a remarkable track record of success and a wealth of experience that will help Pacific Bay achieve this objective," said Reagan Glazier, President & CEO. "Elton's leadership in developing high value assets, such as the Tocantinzinho and the Castelo de Sonhos gold projects, has not only set new standards in the industry, but also significantly contributed to the advancement of mineral exploration in Brazil. I'm excited for the opportunity to include him in our endeavors."

As part of his compensation, the Company will grant 500,000 incentive stock options to Mr. Pereira at an exercise price of $0.05 per share, expiring 3 years after issuing.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. David Bridge, P.Geo., a consultant of the Company, who is a "Qualified Person" as defined in NI 43-101.

For more Information please contact:

Reagan Glazier, CEO, President and Director
E-mail: reagan@pacificbayminerals.com
Telephone:+1 403-815-6663

About Pacific Bay Minerals Ltd.

Pacific Bay currently has a portfolio of properties in British Columbia including the Haskins Reed, 30km East of the Cassiar townsite and the newly added Sphinx Mountain Rare Earth Project.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are based on certain expectations and assumptions, including future plans and objectives of Neotech Metals Corp. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in such statements. The Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220011

FAQ

Who is the new Vice President Exploration of Pacific Bay Minerals (PBMFF)?

Elton L.S. Pereira, a Brazilian geologist with extensive experience in mining exploration, has been appointed as the new Vice President Exploration of Pacific Bay Minerals (PBMFF).

What is Pacific Bay Minerals' (PBMFF) new strategic focus?

Pacific Bay Minerals (PBMFF) is now focusing on acquiring precious metal and critical mineral exploration projects in Brazil.

What compensation was offered to Elton Pereira by Pacific Bay Minerals (PBMFF)?

Pacific Bay Minerals (PBMFF) granted Elton Pereira 500,000 incentive stock options at an exercise price of $0.05 per share, expiring in 3 years.

What are some of Elton Pereira's notable achievements in the mining industry?

Elton Pereira led the development of the Tocantinzinho Gold Project, which was sold to Eldorado Gold Corp. in 2010, and spearheaded the discovery of the Castelo de Sonhos gold project for TriStar Gold Inc.