Vancouver, British Columbia--(Newsfile Corp. - September 18, 2024) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company" or "Nova Pacific") is pleased to announce the appointment of geoscientist David Mark, P. Geo., as a director of the Company.
Mr. Mark has over 56 years of experience in mining exploration, geotechnical, and environmental geophysics, and is currently the head of Geotronics Consulting Inc. He began working in the mining industry in 1965 and graduated from the University of British Columbia in 1968 with a major in Geophysics. Mr. Mark became chief geophysicist of Geotronics in 1969 and acquired control of the company outright in 1972. Geotronics offers a wide variety of services, including seismic reflection and refraction, induced polarisation, various types of EM, gravity, magnetic, and soil sampling surveys (including MMI), as well as project management.
Malcolm Bell, CEO of Nova Pacific, commented, "We are very excited to have David Mark join our Board of Directors. Dave's addition is a testament to our shared vision for the advancement of the Lara deposit. Dave brings a lifetime of expertise in the mineral exploration sector and we are all grateful for his future contributions to the success of Nova Pacific Metals."
David Mark commented, "I am very pleased to join Nova Pacific Metals as a non-executive member of the Board. I believe I can make a significant contribution to the exploration and development of the Lara Project, which is closely analogous, in geological setting and grade, to the notable Myra Falls deposit located 140 km to the northwest. Myra Falls deposit was the largest producing VMS mine in western Canada with combined production and proven and probable reserves in excess of 40 million tonnes of Zn-Cu-Au-Ag sulfides. With a high-grade VMS deposit already drill-outlined on the Lara Property, I believe continuing drilling along strike and at depth has the potential to add significant tonnage and grade to the deposit."
In connection with the appointment, Nova Pacific granted Mr. Mark 125,000 incentive stock options, each of which vests immediately, is exercisable into one common share of the Company at a price of $0.37 per share for a period of five years, and is governed by the terms of Nova Pacific's stock option plan.
About Nova Pacific Metals Corp.
Nova Pacific is a Canadian exploration and development company focused on pursuing projects with a significant mineral discovery thus providing a viable pathway to potential development. The key project being developed by the Company is its recently acquired Lara VMS Project located on southern Vancouver Island, British Columbia. The Lara Project is principally a brownfields development asset with excellent potential for expansion and near-term production.
For additional information please visit: www.novapacificmetals.com.
Rights of Indigenous Communities Statement
Nova Pacific recognizes the Rights of all Indigenous Peoples of Canada. The Company is committed to consultation and accommodation with the Hul'qumi'num Treaty Group communities on whose Traditional, Ancestral and Unceded Territory the Lara Property is located. The Hul'qumi'num Treaty Group is a politically unified group that represents six Hul'qumi'num-speaking First Nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt, and Lake Cowichan.
On behalf of the Board of Directors
J. Malcolm Bell
Chief Executive Officer, Director
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐Looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐Looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company's actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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