Atlas Salt Welcomes New Executive Management Team

Rhea-AI Summary

Atlas Salt (REMRF) announces significant leadership changes with the appointment of Nolan K. Peterson as CEO and Director, and Jeffrey Kilborn as CFO, Corporate Secretary, and VP Corporate Development, effective June 9, 2025. Peterson brings over 20 years of mining sector experience, having led major projects worth up to $1.8B and held senior positions at companies including Barrick, Newmont, and Rio Tinto. He previously served as CEO of World Copper Corp. and holds multiple professional designations including MBA, CFA, and P.Eng. Kilborn contributes over 20 years of mining and financial capital markets experience, with previous roles in investment banking at Raymond James and Bank of America. The new leadership team will focus on developing the Great Atlantic salt project, which is positioned as a strategic asset for the North American salt market.

Positive

• Appointment of highly qualified CEO with over 20 years of mining experience and successful track record in major project development ($750M-$1.8B projects)
• New CEO brings strong technical and financial expertise with MBA, CFA, and P.Eng designations
• New CFO brings extensive capital markets experience from Raymond James and Bank of America
• Project is described as substantially derisked and strategically important for North American salt market

Negative

• Management transition period could potentially cause temporary disruption
• Departure of previous CFO requires transition period with consulting services

ST. JOHN'S, NF AND LABRADOR / ACCESS Newswire / June 3, 2025 / Atlas Salt (the "Company" or "Atlas") - (TSXV:SALT)(OTCQB:REMRF) announces the appointment of Mr. Nolan K. Peterson, MBA, CFA, P.Eng. as Chief Executive Officer and Director of the Company and Mr. Jeffrey Kilborn, CMC as Chief Financial Officer, Corporate Secretary and VP Corporate Development, effective June 9, 2025.

Mr. Alasdair Federico has resigned from his position as Chief Financial Officer effective June 9 and will provide transitional consulting services as needed. The Company sincerely thanks Mr. Federico for his professional service and thoughtful contributions to the Company through the permitting and preconstruction phase.

Mr. Peterson joins the Company with an impressive technical and management background indicative of his capabilities and keen business acumen.

Nolan Peterson Career Highlights include:

• Over 20 years experience in the mining sector; spanning development, operations and finance including extensive experience in capital markets, public company management and corporate development.

• A senior leader in the successful delivery of the New Afton ($750 million), Rainy River ($1B) and Hope Bay ($250M) mining projects in addition to extensive project development work with companies including Barrick, Newmont, Rio Tinto, and QuadraFNX.

• Most recently served as CEO and President of World Copper Corp. from 2021 to 2023 where he successfully completed the merger with Cardero Resources Corp. and concurrently advanced the Escalones and Zonia projects in Chile and Arizona, respectively.

• Held senior positions including Project Engineer and Financial Analyst and later Senior Director of Financial Planning and Analysis (FP&A) at New Gold and TMAC Resources/Agnico Eagle where he held key roles in developing and transitioning three major mines into production including the New Afton and Rainy River projects, and advancing the development of the Blackwater project ($1.8B) through Feasibility Study.

• Grew up in Nunavut in Canada's arctic, an upbringing that has left him uniquely aware of the needs of local communities and environments surrounding mineral development projects. His perspectives will be invaluable in navigating key issues that impact and shape the development of modern mining projects.

• Bachelor's Degree in Applied Science from University of British Columbia (UBC); MBA from the UBC Sauder School of Business; Chartered Financial Analyst (CFA) Charterholder; Professional Engineer (P.Eng) in British Columbia and Ontario.

Mr. Peterson commented: "This is an exciting time to join Atlas Salt and I am thrilled to undertake this role. Atlas Salt presents a rare and compelling opportunity to lead the development of an emerging mine with many unique characteristics that holds strategic importance for the Canadian and broader North American salt market. The Great Atlantic salt deposit has been significantly derisked and is at a position where I am confident I can lead the team to a successful outcome for all stakeholders. I am committed to sharing our vision with a broader audience and ensuring that robust mechanisms are in place to advance the salt project safely, efficiently, and with deep respect for the communities and environment we serve. In the near future, I look forward to connecting with new and existing shareholders and stakeholders as we bring Canada's next great salt mine to life - setting a new standard for responsible development, innovation, and lasting value for Canada."

Mr. Kilborn joins the Company with a diverse background in mining and financial capital markets spanning over 20 years.

Jeffrey Kilborn Career Highlights include:

• Former Executive Vice President of Corporate Development, Chief Financial Officer and Director of Canadian Gold Corp. (TSXV:CGC). Currently Director and Chair of the Audit Committee.

• Investment Banking with Raymond James Ltd. - engaged in equity capital market transactions, including managing road shows for clients.

• Investment Banking with Bank of America - engaged in cross-border debt capital market transactions.

• Business Advisor and Manager with the Business Development Bank of Canada - provided strategic advice to high-growth small and medium-sized businesses across Canada.

• Bachelor of Arts - Honours Business Administration from Ivey Business School, Western University; Canadian Association of Management Consultants (CMC) designation.

Mr. Kilborn commented, "I look forward to being part of the Atlas team as we embark on the financial execution to develop the Great Atlantic salt project. My mining and financial capital markets experience positions me to support and complement Mr. Peterson as we take the company to the next phase. I am excited to articulate the Atlas story to the wider investment community."

Chairman Comment

Mr. Patrick Laracy, Chairman of the Board, commented: "We are delighted to have recruited a motivated leadership team in Nolan and Jeff, which speaks to the quality of our project. We feel confident in their ability to integrate with our existing strong technical and administrative team to develop the Great Atlantic salt project. The team will be instrumental in elevating the profile of the Company, which offers investors a compelling and highly differentiated opportunity in the mining space, at a discount to intrinsic value. We expect that the many positive attributes of our substantially derisked project will become more widely recognized with the new management focus, and we look forward to expanding our capital markets profile in the immediate term."

About Atlas Salt Inc.

Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.

For information, please contact:

Patrick Laracy, Chairman
investors@atlassalt.com
(709) 739-9545

We seek safe harbor.

Cautionary Statement

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. 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 reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of required permits, contract agreements, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

SOURCE: Atlas Salt Inc.

View the original press release on ACCESS Newswire

FAQ

Who is the new CEO of Atlas Salt (REMRF) and what is his background?

Nolan K. Peterson is the new CEO, bringing over 20 years of mining sector experience. He previously led major projects at companies like Barrick and Newmont, served as CEO of World Copper Corp., and holds MBA, CFA, and P.Eng designations.

When will the new management team start at Atlas Salt (REMRF)?

The new management team, including CEO Nolan Peterson and CFO Jeffrey Kilborn, will begin their roles effective June 9, 2025.

What experience does the new CFO Jeffrey Kilborn bring to Atlas Salt?

Jeffrey Kilborn brings over 20 years of mining and financial capital markets experience, including roles in investment banking at Raymond James and Bank of America, and previously served as EVP of Corporate Development and CFO at Canadian Gold Corp.

What is the strategic importance of Atlas Salt's Great Atlantic project?

The Great Atlantic salt deposit is described as a substantially derisked project that holds strategic importance for the Canadian and broader North American salt market.

Who is leaving Atlas Salt's management team?

Alasdair Federico is resigning from his position as Chief Financial Officer effective June 9, 2025, but will provide transitional consulting services as needed.