SASKATOON, Saskatchewan, June 05, 2018 (GLOBE NEWSWIRE) -- Tarku Resources Ltd (TSX-V:TKU) (the "Company" or "Tarku") is pleased to announce the appointment of Mr. Bernard Lapointe to the Board of directors and as Chairman of the Company. Mr. Lapointe fills the vacant position following the resignation of Mr. Sylvain Laberge, Chief Executive Officer and Director of the Company. Mr. Lapointe will act as the independent director of the Company. In addition, Tarku announces the appointment of Mr. Julien Davy, current President of the Company, as President and Chief Executive Officer of the Company following the resignation of Mr. Laberge. These changes are effective June 1, 2018.
“On behalf of the Board, we all recognize the immense contribution Sylvain has made to Tarku and we wish to extend our genuine appreciation for his dedicated services” commented Julien Davy. “Sylvain has greatly contributed to the development of Tarku thanks, among other things, to the various agreements concluded including the acquisition exploration projects in the Matagami and Chibougamau regions. We wish him all the best as he refocuses his attention on his copper projects”.
Sylvain Laberge said, "I want to thank all shareholders for their trust and support. Having made the transition following the acquisition of Eureka Exploration, I am confident that the Company is now in good hands and wish Julien a bright future. The arrival of Mr. Lapointe brings a lot of depth to Tarku and I welcome him ".
Mr. Lapointe has extensive business experience, having spent more than 35 years in the resource sector in exploration and project development. He founded Arianne Resources in 1997 and headed the company until 2013 that became Arianne Phosphate. Mr. Lapointe contributed to the discovery and development of the Lac à Paul project located in Quebec, one of the largest phosphate projects in the world. Mr. Lapointe is now a semi-retired geologist, consultant and private investor. He sits on several technical and strategic committees of public and private exploration companies and is a lecturer of exploration funding at the Université du Québec à Chicoutimi. He holds a B.A. in Geology (Montreal) from a Master's degree in Structural Geology (Chicoutimi) and a Ph.D. in mineral resources of the Université du Québec (Chicoutimi).
"Mr. Lapointe's experience in developing exploration companies is unmatched and Tarku is very fortunate to have access to his knowledge," commented Julien Davy. "His past successes will bring more credibility to Tarku as well as an unique vision in the company's strategy".
Tarku also announces that it is proposing to extend the expiry date of 11,104,000 outstanding common share purchase warrants (the “Warrants”). The Warrants were issued in June and July 2016 pursuant to a private placement of Units (as for 10,204,000 Warrants) and in June 2017 pursuant to the acquisition of Eureka Exploration Inc. (as for 900,000 Warrants). No Warrants have been exercised to date.
Each Warrant entitles its holder to purchase one common share (a “Share”) at a price of $0.10 per Share until June 24, 2018 (for 7,104,000 Warrants), June 29, 2018 (for 900,000 Warrants) and July 21, 2018 (for 3,100,000 Warrants). Subject to TSX Venture Exchange approval, the expiry date of the Warrants will be extended to January 21, 2020. All other terms of the Warrants shall remain unchanged and in full force and effect.
About Tarku Resources Ltd. (TSX-V:TKU)
Tarku Resources Ltd is an exploration company focused on generating sustainable projects for precious and base metals by conducting exploration in areas with strong geologic potential and high levels of social acceptability. Tarku holds a 100% interest in all its projects and has an option to acquire a 50% interest in the SOQUEM project. Project generation is the foundation of mining development, and Tarku’s vision is to generate exploration projects with excellent potential for mining development for prospective partners or buyers. The Company has an experienced management team with a successful track record. The goal of Tarku is to provide value for its shareholders through the implementation of strategic property acquisition, innovative exploration techniques and exploration of fertile ground. Management cautions that there is no assurance that past results or discoveries on adjacent or nearby land packages are indicative that the Company will achieve similar results on its projects.
For more information, please visit the Company’s web.
Neither 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.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.