Churchill Resources Appointments to Board of Directors and Grant of Options

TORONTO, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce the appointments of Mr. Malik Easah as Director and of Mr. Bill Fisher as Chairman of the Board of Directors of the Company.

Mr Easah is Executive Chairman of Asante Gold Corporation (CSE: ASE), a gold production, exploration and development company with projects in Ghana, including its operating Bibiani and Chirano gold mines which together produce approximately 250k ounces per year, based on Asante’s projections. Mr. Easah was a founder and Executive Director of Cardinal Resources Limited where he played a key role in the discovery and development of the seven million-ounce Namdini Gold Project in Northern Ghana. Cardinal Resources was acquired by Shandong Gold Company for approximately AUS $600 million. Mr. Easah has over fifteen years of exploration, mining and project development experience, and resides in Accra, Ghana.

Mr. Fisher P.Geo graduated as a geologist in 1979 and has a proven record of discovery and development including a number of residential posts in Africa, Australia, Europe and Canada. Under his leadership, Karmin Exploration discovered the Aripuanã polymetallic massive sulphide deposits in Brazil, currently being developed by Nexa Resources. From 1997 to 2001 Mr. Fisher was Vice President, Exploration for Boliden AB, a major European mining and smelting company where he was responsible for 35 projects in 9 countries. From 2001 to 2008 Mr. Fisher transformed GlobeStar Mining Corp. from an exploration company to an emerging mining company in the Dominican Republic, developing and financing the Cerro de Maimon copper/gold mine until it was sold to Perilya for $186 million. Mr. Fisher was CEO of GoldQuest Mining Corporation when it discovered the 3 million ounce Romero gold deposit in the Dominican Republic, where he currently serves as Chairman. Mr. Fisher served as Chairman of Aurelian Resources which was sold to Kinross Gold for $1.2 Billion after the discovery of the giant Fruta del Norte gold deposit in Ecuador, currently being mined by Lundin Gold. Mr. Fisher has recently resigned as Chairman of Horizonte Minerals, which discovered, acquired and developed the Tier 1 Araguaia and Vermelho nickel deposits in Brazil where the project is under construction.

The Company also announces that its board of directors has approved the grant of an aggregate of nine million of stock options to certain directors, officers and consultants of the Company. The options were issued with an exercise price of $0.10 and have a five-year term.

About Churchill Resources Inc.

Churchill Resources Inc. is a Canadian exploration company focused on high grade, magmatic nickel sulphides in Canada, principally at its prospective Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board and its advisors have decades of combined management experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Taylor Brook and Florence Lake projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise. The province was recently ranked 4th in the world for investment attractiveness by the Fraser Institute in its 2022 annual survey of mining and exploration companies.

Further Information

For further information regarding Churchill, please contact:

Cautionary Note Regarding Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.