TORONTO, Jan. 23, 2019 /CNW/ - Adventus Zinc Corporation
(TSXV: ADZN OTCQX: ADVZF) ("Adventus") and its board of directors are pleased to announce the appointment of Barry Murphy as independent director and Gunther Sotomayor as Vice President,
Projects.
Mr. Murphy is a mining professional with over 30 years of experience on copper, gold, and platinum projects on three
continents. He has held senior executive positions with Anglo American and Yamana Gold where he
led both technical and project development teams. His most recent experience includes the development of open-pit and underground
mines in Chile, Peru, Argentina, and Brazil. Prior to these projects, Mr. Murphy held management
positions at engineering and construction services firms Hatch and Murray & Roberts Cementation Limited. He holds a
Bachelor of Science degree in Mechanical Engineering from the University of Witwatersrand, Johannesburg and a Bachelor of Commerce degree from the University of South
Africa. Mr. Murphy is a registered Professional Engineer with the Engineering Council of South
Africa and a Project Management Professional with the Project Management Institute.
Mr. Sotomayor is a project management professional with over 20 years of international experience in project development for
mining and petroleum industries. As a member of owner's teams and as a consultant, he has held leadership roles in project
management and construction on various mining projects in Latin America, including Freeport
McMoRan Inc.'s expansion of Cerro Verde in Peru, and most
recently Lundin Gold Inc.'s Fruta del Norte project in Ecuador. Over his extensive project
career, Mr. Sotomayor has worked on all stages of engineering study and construction, from NI 43-101 standard preliminary
economic assessments, pre-feasibility and feasibility studies to construction of process plants and support infrastructure on
both green and brownfield developments. Mr. Sotomayor is a native of Guayaquil, Ecuador and hold
a Bachelor of Science degree in Mechanical Engineering from Escuela Superior Politécnica del Litoral (ESPOL). Mr. Sotomayor will
be based in Ecuador.
As Adventus embarks on significant exploration and engineering work in advancing the Curipamba, Pijilí and Santiago projects in Ecuador, it continues to build its core management
team. On behalf of the board of directors, Christian Kargl-Simard, President and Chief Executive
Officer of Adventus, commented: "We are pleased and excited to welcome both Barry Murphy and
Gunther Sotomayor to our growing company. Both individuals bring extensive engineering, design and
construction experience from successful mining projects in Latin America, which will provide
valuable oversight and hands-on contributions to our team as we advance Curipamba and our other Ecuadorian copper-gold
projects."
Adventus has today granted 100,000 stock options to Mr. Murphy and 400,000 stock options to Mr. Sotomayor. These options are
exercisable at C$0.78 per share expiring in five years and vesting over a 3-year period in
accordance with the terms of Adventus' Stock Option Plan and subject to regulatory approval.
Name Change
With the focus now on copper in Ecuador, Adventus will be asking its shareholders to
consider and approve a name change to "Adventus Mining Corporation" at the next annual meeting in June
2019. Mr. Kargl-Simard commented: "Adventus spent close to two years evaluating over 240 zinc-related assets around the
globe. While we were unable to acquire a zinc-dominant opportunity that met our stringent investment criteria, we were able to
identify and form a partnership for the Curipamba copper-gold project in Ecuador. With our focus
in Ecuador and increasing knowledge of the country's mineral prospectivity, Adventus secured two
additional exploration projects in 2018 as we seek to build a portfolio of attractive projects in-country. With respect to zinc,
we will continue to monitor and update the intellectual property that we have developed, but as such, we believe the name change
to be appropriate at this time. Adventus will continue to have zinc exposure through our equity shareholding in Canstar Resources
Inc., future transactions and programs involving our non-core portfolio of projects in Ireland,
and as part of our flagship Curipamba project."
About Adventus
Adventus is a well-financed company focused on base metals exploration and project development globally. Its strategic
shareholders include Altius Minerals Corporation, Greenstone Resources LP, Resource Capital Funds, and Wheaton Precious Metals
Corp.; as well as other highly respected investors in the mining business. The focus of Adventus is the advancement of the
Curipamba copper-gold-zinc project in Ecuador as part of an earn-in agreement to obtain a 75%
ownership interest. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, incorporating two projects to date. Elsewhere globally, Adventus owns a large prospective mineral
land package in Ireland totalling 1,950 km2 and, through its ownership interest in
Canstar Resources Inc., is actively participating in the exploration upside of a prospective mineral land package in Newfoundland and Labrador, Canada totalling 550 km2. Adventus is
based in Toronto, Canada, and is listed on the TSX-V under the symbol ADZN and on the OTCQX
under the symbol ADVZF.
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 news release.
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SOURCE Adventus Zinc Corporation
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