Roscan Gold Announces Changes to the Board of Directors

Rhea-AI Summary

Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) has announced significant changes to its Board of Directors. Nana Sangmuah has been appointed as the Executive Chairman, succeeding Sir Samuel Jonah who is stepping down for personal reasons. Additionally, Rahul Paul has been appointed to the Board, bringing over 17 years of experience in capital markets and the mining industry.

Mr. Paul, formerly President & CEO of Radisson Mining Resources Inc., has a strong track record in securing financing and overseeing successful drill programs. His appointment is expected to strengthen Roscan's growth strategy as the company transitions from advanced exploration towards permitting and development.

The company has also granted 500,000 incentive stock options to Mr. Paul, exercisable at $0.08 per share for five years.

Positive

• Appointment of Nana Sangmuah as Executive Chairman, bringing continuity in leadership
• Addition of Rahul Paul to the Board, bringing 17 years of industry and capital markets experience
• Paul's expertise in securing financing and overseeing successful drill programs could benefit Roscan's growth strategy
• Company's transition from exploration to permitting and development phase

Negative

• Departure of Sir Samuel Jonah as Non-Executive Chairman
• Granting of 500,000 stock options at $0.08 per share may lead to potential dilution for existing shareholders

Toronto, Ontario--(Newsfile Corp. - September 16, 2024) - Roscan Gold Corporation  (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") is pleased to announce that Mr. Nana Sangmuah has been appointed as the Executive Chairman of the Board of Directors, effective September 16, 2024. Mr. Sangmuah will succeed Sir Samuel Jonah, who is stepping down from his role as Non-Executive Chairman for personal reasons. Additionally, the Company is pleased to announce the appointment of Mr. Rahul Paul to its Board of Directors, effective today.

Nana Sangmuah, Executive Chairman, President, and CEO, commented, "We are deeply grateful for the invaluable contributions and guidance Sir Samuel has provided during his tenure as Chairman. His leadership has been instrumental in positioning Roscan for future success. As we transition from advanced exploration towards permitting and development, I am confident that his advice and experience will continue to be a vital asset to the Company. Furthermore, we are thrilled to welcome Rahul Paul to our Board. His extensive capital markets expertise and proven track record in the mining industry will be invaluable as we continue to execute our growth strategy."

Appointment of Mr. Rahul Paul to the Board of Directors

Mr. Paul brings more than seventeen years of experience in capital markets and the mining industry. Most recently, he held the position of President & CEO at Radisson Mining Resources Inc., a company listed on the TSX-V. During his tenure, he successfully secured financing and supervised a 128,000 m drill program from 2019 to 2022, resulting in a significant increase in gold resources at the O'Brien project. With near a decade serving as Director, Research - Precious Metals at Canaccord Genuity, Mr. Paul provided in-depth coverage of gold producers and developers. He has been instrumental in assisting numerous North American gold companies in managing growth, raising capital, enhancing market visibility, and progressing projects from early-stage exploration through to production. Mr. Paul holds a Master of Business Administration from Western University and an undergraduate engineering degree from the University of Kerala.

Stock Options

The Company's board of directors has approved the granting of 500,000 incentive stock options pursuant to the Company's Stock Option Plan to Rahul Paul, which will vest immediately. The options are exercisable at a price of $0.08 per share for a period of five (5) years from issuance.

About Roscan

Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company has assembled a significant land position of 100%-owned permits in an area of producing gold mines (including B2 Gold's Fekola Mine which lies in a contiguous property to the west of Kandiole), and major gold deposits, located both north and south of its Kandiole Project in West Mali.

For further information, please contact:

Nana Sangmuah

President & CEO
Tel: (416) 900-1412
Email: info@Roscan.ca

Forward-Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223394

FAQ

Who has been appointed as the new Executive Chairman of Roscan Gold (RCGCF)?

Nana Sangmuah has been appointed as the new Executive Chairman of Roscan Gold (RCGCF), effective September 16, 2024.

Who has been newly appointed to Roscan Gold's (RCGCF) Board of Directors?

Rahul Paul has been newly appointed to Roscan Gold's (RCGCF) Board of Directors, effective September 16, 2024.

What is Rahul Paul's background and experience in the mining industry?

Rahul Paul has over 17 years of experience in capital markets and the mining industry. He was previously President & CEO of Radisson Mining Resources Inc. and has expertise in securing financing, overseeing drill programs, and assisting gold companies in growth management.

What stock options were granted to Rahul Paul by Roscan Gold (RCGCF)?

Roscan Gold (RCGCF) granted Rahul Paul 500,000 incentive stock options, exercisable at a price of $0.08 per share for a period of five years from issuance.