Mr. Warman, an Experienced Geologist and
Mining Executive, Was Formerly President at Dalradian Resources and
Vice President at Aurelian Resources and Is a Current Director of
Continental Gold
Robert Pirooz,
Peter Tallman, Harry Pokrandt, Geir
Liland and Timothy Warman Will Be Appointed to the Company's
Board of Directors at Closing
TSXV – ROU.V
VANCOUVER, July 12, 2016 /CNW/ - Rouge Resources Ltd.
(TSX-V; ROU) ("Rouge" or the "Company"), a publicly traded mineral
exploration company intending to change its name to Fiore
Exploration Ltd., is pleased to announce key management changes and
proposed board changes.
Mr. Timothy Warman, P.Geo, has
been appointed Chief Executive Officer of the Company effective
July 8, 2016. Mr. Warman is a
professional geologist with over 25 years of experience in all
phases of mineral exploration, from grassroots exploration through
feasibility and development. He has held board or senior leadership
roles with some of the most successful exploration and development
companies of the past decade which have together discovered over 30
million ounces of gold.
Mr. Warman is a director of Continental Gold Inc. (since 2010),
a leading Colombia-focused
explorer which is developing the large-scale and high-grade
Buriticá project. He was President of Dalradian Resources, which is
developing the Curraghinalt gold project in Northern Ireland, from 2012-2015. At
Dalradian, Mr. Warman was responsible for all operational aspects
of the company's exploration, permitting and development
activities. Previously, Mr. Warman was Vice President, Corporate
Development of Aurelian Resources Inc., where he supported the
exploration team in Ecuador,
initiated and managed early-stage development studies, marketed
Aurelian to international investors and played a significant role
in successfully negotiating the $1.2
billion acquisition of Aurelian by Kinross Gold Corporation.
Prior to Aurelian, Mr. Warman held senior positions in a number of
mining and exploration companies in North
America, Africa and
Europe. Mr. Warman is a graduate
of the University of Manitoba (MSc) and
McMaster University (BSc) and a member
of the Association of Professional Geoscientists of Ontario.
"I am extremely pleased to join Rouge Resources as CEO,"
commented Mr. Warman. "The mining industry is in dire need of new
discoveries. My goal is to build a leading exploration company with
an experienced and motivated team. That company will be actively
exploring multiple targets with the goal of delivering world-class
discoveries to the benefit of shareholders and local communities.
This opportunity is an excellent fit with my experience as an
exploration geologist and as a senior executive with a focus on
Latin America. I look forward to
working with the board to realize this vision."
The Company is pleased to announce that Robert Pirooz, Peter
Tallman, Harry Pokrandt,
Geir Liland and Timothy Warman will be appointed to the
Company's board of directors on closing.
Mr. Robert Pirooz is a successful
lawyer, venture capitalist and mining entrepreneur with extensive
experience in South America. Mr.
Pirooz served as Director and General Counsel at Pan American
Silver from 2003-2015. During his tenure, Mr. Pirooz helped
establish Pan American as a leading
precious metals producer with operations in Mexico, Peru,
Bolivia and Argentina, and more than 3500
employees/workers. Mr. Pirooz has been a Director and Advisor to
several successful mining startups including Lumina Copper
Corporation, which sold to First Quantum Corporation for
$470 million in 2014. He was a
Director of Augusta Resource Corporation, which was acquired by
Hudbay Mining for $550 million in
2014. Mr. Pirooz was a Director of Ventana Gold Corporation, which
was acquired by AUX for $1.54 billion
in 2011. Mr. Pirooz is a 2012 Queen's Counsel appointee in
B.C. He was called to the British
Columbia Bar in 1990 after obtaining a Bachelor of Law degree from
the University of British Columbia and
studying Commerce at Dalhousie.
Mr. Peter Tallman, P.Geo, is an
experienced mining entrepreneur and Professional Geologist. He has
35 years experience in the mining industry. Mr. Tallman has worked
in Canada, Chile, Mexico, and Australia. His career has
included the grassroots discovery and delineation of three mineral
deposits, two of which have been mined, diversely including one
gold, one antimony, and one zinc deposit. He is currently
President and CEO of Klondike Gold Corp., which is exploring for
gold in Yukon, Canada. Mr. Tallman
has held either Founder, Director, and/or senior management
positions at a number of publicly listed Canadian mining companies
continuously over the past 20 years.
Mr. Harry Pokrandt has over three
decades of experience in Canada's
capital markets, and recently retired from Macquarie Capital
Markets Canada Ltd after a successful career as a trader,
underwriter and investment banker. Formerly, Mr. Pokrandt was
Managing Director for a major international investment banking
firm, leading its Metals & Mining Group at its Vancouver office. He was previously involved
with resource-focused investment bank boutique, Orion Securities
Inc., where he worked in Institutional Sales for over 20 years. Mr.
Pokrandt has worked on numerous financing and advisory assignments
in the metals and mining sector. He has been a member of the board
of directors at Sandspring Resources since September 2016 and a member of the board of
directors at Lithium X Energy since November
2015. Additionally, Mr. Pokrandt was a member of the
President's Council for the International Crisis Group from 2010 to
2013 and has been actively involved in the Local Advisory Committee
for the TSX Venture Exchange since 2013.
Mr. Geir Liland brings over 30
years of corporate finance, accounting and management experience to
the Company. In 1982 after working for a number of accounting firms
and public companies, Mr. Liland began a long career with the TSX
Venture Exchange. From November 1999
until August 2002 Mr. Liland held the
position of Vice President, Corporate Finance (Vancouver) for the Exchange where he led
corporate finance staff through integration with the Alberta, Winnipeg and Montreal Stock Exchanges and the
Canadian Dealing Network. Since 2002 Mr. Liland has been a business
consultant and a director of several public companies. Mr. Liland
holds a Bachelor of Arts in Economics and Commerce from
Simon Fraser University in British Columbia.
The Company wishes to announce it has granted 2,270,000 stock
options to certain directors, officers and consultants of the
Company, exercisable for a period of ten years at $0.51 per share.
Further to the Company's news releases dated June 15, 2016 the Company and Arena Minerals Inc
("Arena") have agreed to amend the terms of the acquisition such
that Arena will now receive 9,550,000 common shares of the Company
and SQM will receive 5,350,000 common shares of the Company. This
amendment reflects the required increase of 1,400,000 common shares
to account for the extra dilution caused by the increase in the
financing. In addition a further 70,000 common shares will be
issued to the finder.
Tim Warman, P.Geo., Rouge's CEO,
is the Qualified Person who supervised the preparation of the
technical data in this news release.
About Rouge Resources Ltd.
Rouge Resources Ltd., has signed a letter of intent with Arena
Minerals for the acquisition of the Pampas El Peñon gold project in
Chile, which covers land in the
same geological environment as Yamana's flagship El Peñon mine. The
Company is undertaking a fully allocated non-brokered private
placement of up to 20,000,000 common shares at a price of
$0.26 per common share, for gross
proceeds of $5,200,000. The private
placement remains subject to the approval of the TSX Venture
Exchange. Rouge intends to change its name to Fiore Exploration
Ltd.
On behalf of ROUGE RESOURCES LTD.
"Tim Warman"
Chief Executive Officer
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.
Disclaimer for Forward-Looking Information
"This press release contains "forward-looking information"
and "forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of the Company in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause the Company's actual
results, performance and achievements to differ materially from
those expressed or implied by the forward-looking information and
statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at
www.sedar.com. The Company disclaims any obligation to
update or revise any forward-looking information or statements
except as may be required."
SOURCE Rouge Resources Ltd.