Minsud Announces Management Changes and Grants Stock Options

TSX-V: MSR

TORONTO, July 16, 2020 /CNW/ - Minsud Resources Corp. (TSX-V: MSR) ("Minsud" or the "Company") announces that Alberto Orcoyen has resigned as President and Chief Executive Officer of the Company. Ramiro Massa has been appointed as President and Chief Executive Officer to replace Alberto Orcoyen, subject to the approval of the TSX Venture Exchange. Ramiro Massa has resigned as Corporate Secretary of the Company and has been replaced by Michael Johnston, the current Chief Financial Officer. The Company thanks Mr. Orcoyen for his service as President and Chief Executive Officer, who will continue to serve as a director of the Company.

Ramiro Massa began his professional career at PricewaterhouseCoopers, after graduating as an accountant from the Universidad Catolica Argentina (UCA). Mr. Massa has worked as Controller at Minera Sud Argentina S.A., the Company's operating subsidiary, and Minsud Resources Corp. for more than 10 years. Mr. Massa has been an instrumental part of each stage of Minsud's development, including the going public transaction in 2011 and the subsequent development of the Company's Chita Valley project. Mr. Massa also holds a degree in Business Administration from the UCA and a diploma in International Financial Reporting (IFRS) from the Association of Chartered Certified Accountants of England (ACCA). Mr. Massa is also a director of Minera Sud Argentina S.A.

Minsud also announces that it has granted options to purchase an aggregate of 1,400,000 common shares of the Company (the "Stock Options") to certain consultants of the Company. The Stock Options are exercisable at a price of $0.10 per share for a period of five years from the date of issuance.

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.

SOURCE Minsud Resources Corp.

View original content: http://www.newswire.ca/en/releases/archive/July2020/16/c7932.html