--Company Tightens Focus on REEs
VANCOUVER, British Columbia, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (“REEs”) that drive the critical technologies of the future, is pleased to announce the appointment of Mr. Mark Mukhija as a member of the board of directors effective immediately.
Mr. Mukhija brings over 15 years of experience in the mining industry including roles with global mining companies such as Teck Resources, Barrick, BHP Billiton, and TransAlta. Since 2018, Mark has been the General Manager (Australia) for Motion Metrics, an industrial artificial intelligence and machine learning company catering to the mining industry with a specific focus on safety and productivity. Mr. Mukhija is responsible for the P&L, business development, project management, and logistics of the Motion Metrics (Australia) operations. With BHP Billiton, Mark was responsible for life of mine planning and asset value optimization. At TransAlta, Mr. Mukhija began as the Engineering Team Leader at the Sunhills Mine with 14 direct reports and then moved into a capital planning supervisory role where he was responsible for a $60mm annual capital expenditure budget for the operation. Mr. Mukhija is a Professional Engineer and graduate from the University of British Columbia with a Bachelor of Applied Science in Mining Engineering (2003).
Company CEO, Ranjeet Sundher, notes, “We welcome Mark to our team and look forward to working with him. His background and experience are an excellent fit for our growing enterprise, and we expect will greatly benefit our governance and oversight requirements. Every aspect of our performance, from fieldwork to capital markets will benefit from his participation.”
Directors Mark Mukhija and Garry Clark have each been granted 50,000 stock options (“Options”), with each Option exercisable for one common share of the Company at a price of $1.04 until September 29, 2024. The Options vest immediately, and are subject to a statutory hold period of four months plus one day.
Tactical Resources is fully focussed on becoming a premier North American developer of REE products to meet domestic supply chain needs, and further to this goal, the Company announces it will not exercise its option to acquire the SAM gold property in Saskatchewan, Canada. The Company terminated the property option agreement with respect to the SAM property effective September 30, 2022, and has no further obligations to make additional cash or share payments thereunder.
In furtherance of the company’s REE objective, Tactical is pleased to announce the filing of a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects for the Lac Ducharme REE Project, Manicouagan, Quebec.
The technical report is titled “NI 43-101 TECHNICAL REPORT on the LAC DUCHARME REE PROJECT, MANICOUAGAN, QUÉBEC For TACTICAL RESOURCES CORP.” and has an effective date of September 29, 2022. This is an updated NI 43-101 report that has been written with regards to the Lac Ducharme and includes all technical work on the property to date and includes the 2021 and 2022 field work completed by Tactical Resources. The report was written by Martin Demers (P.Geo and Ordre des geologues du Québec). The technical report is available for download under the Company's profile on SEDAR (www.sedar.com) and on the Company's website (www.tacticalresources.com).
On Behalf of The Board of Directors,
Chief Executive Officer & Director
Tactical Resources Corp.
About Tactical Resources Corp. (CSE: RARE) (OTC: USREF)
Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, British Columbia, and holds interests at the Lac Ducharme property located in Quebec, and the Peak Project in western Texas. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the anticipated benefits to the Company of the appointment of Mr. Mukhija to its board of directors.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s long form prospectus dated February 28, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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Tactical Resources Corp.
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068