TORONTO, Aug. 17,
2023 /CNW/ - Karora Resources Inc. (TSX: KRR) (OTCQX:
KRRGF) ("Karora" or the "Corporation") is pleased to announce the
appointment of Tony Makuch to the
Board of Directors and as new Chair of the Board Technical
Committee. Barry Dahl, Karora's
former CFO has announced his retirement after a long and
distinguished career in the mining sector, culminating in three and
a half years as Karora's Chief Financial Officer. With Barry's
well-deserved retirement, Karora is pleased to announce
Derek Humphry has joined the
Corporation in the position of Chief Financial Officer.
Paul Andre Huet, Chairman &
CEO, commented: "After serving as a Special Advisor to the
Corporation since May 2022, I am very
pleased to welcome Tony Makuch to
the Karora Board of Directors. We are not only very pleased to
announce Tony as a Board Member, but as the Chair of the Board
Technical Committee which was vacated earlier this year. Tony's
willingness to increase his role with Karora is a strong
endorsement of his belief in the ongoing growth of the Company.
Tony's technical input over the past year has been immensely
valuable as we have executed on our growth plan in Australia, evolving into a much larger gold
producer. We welcome his experience and the benefit of the
knowledge he brings from his extremely successful 35+ year career
in mining, including his tenure leading Kirkland Lake Gold as CEO from 2016 until its
merger with Agnico in early 2022.
Additionally, I am very pleased to welcome Derek Humphry to the Karora team as our Chief
Financial Officer. Derek is a great addition for us, bringing 20+
years of experience and mining expertise across TSX and ASX listed
companies including both gold and nickel producers – a unique
quality which directly translates to our growing operations. Derek
is a Chartered Account and prior to joining Karora served as the
CFO for Dacian Gold Limited.
Finally, I would like to congratulate Barry Dahl on his well-deserved retirement
following a tremendous career in the mining sector. I have had the
pleasure of working with Barry at more than one company and his
impact has been instrumental in growing these businesses. Barry
joined Karora in early 2020 and was critical in leading the
financial side of our business through a period of extraordinary
growth and change. His contributions and dedication to the Company
are greatly appreciated. I wish Barry all the best in his
well-earned retirement and thank him for his service to
Karora."
About Karora Resources
Karora is focused on increasing gold production to a targeted
range of 170,000-195,000 ounces by 2024 at its integrated Beta Hunt
Gold Mine and Higginsville Gold Operations ("HGO") in Western Australia. The Higginsville treatment
facility is a low-cost 1.6 Mtpa processing plant, which is fed at
capacity from Karora's underground Beta Hunt mine and Higginsville
mines. In July 2022, Karora acquired
the 1.0 Mtpa Lakewood Mill in Western
Australia. At Beta Hunt, a robust gold Mineral Resource and
Reserve are hosted in multiple gold shears, with gold intersections
along a 5 km strike length remaining open in multiple directions.
HGO has a substantial Mineral gold Resource and Reserve and
prospective land package totaling approximately 1,900 square
kilometers. Karora has a strong Board and management team focused
on delivering shareholder value and responsible mining, as
demonstrated by Karora's commitment to reducing emissions across
its operations. Karora's common shares trade on the TSX under the
symbol KRR and on the OTCQX market under the symbol KRRGF.
Cautionary Statement Concerning
Forward-Looking Statements
This news release contains "forward-looking information"
including without limitation statements relating to, among other
items, production guidance, timing for completion of capital
projects, timing for the commencement of mining, liquidity and
capital resources of Karora, organic growth profile and the
potential of the Beta Hunt Mine, Higginsville Gold Operation, the
Aquarius and Two Boys Projects, Spargos Gold Mine and Lake Cowan
prospect.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Karora to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to Karora 's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and Karora disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
www.karoraresources.com
SOURCE Karora Resources Inc.