VANCOUVER, BC, Nov. 25, 2020 /CNW/ - International Consolidated
Uranium Inc. (the "Company") (TSXV: CUR) is
pleased to announce the formation of an advisory board (the
"Advisory Board") to provide advice and recommendations to
the Company's Board of Directors (the "Board") and
management. In conjunction with the formation of the advisory
board, the Company is pleased to announce that it has appointed
Dean T. (Ted) Wilton as its first
member.
Philip Williams, CEO, commented
"I am extremely pleased to welcome Ted to the newly formed advisory
board. As we grow the Company, the opportunity to draw on Ted's
wealth of experience in the mineral exploration field, particularly
for uranium in the United States,
will be invaluable. The ultimate success of the Company will be
directly tied to the quality of the people we are able to attract.
Ted will be an excellent complement to the team already in place in
addition to bringing tremendous uranium exploration and development
expertise generated from decades in the sector. I look forward to
building out the Advisory Board in due course."
The purpose of the Advisory Board is to provide objective advice
and make non-binding recommendations to the Board and management
with respect to matters within the respective areas of experience
and expertise of its members. The Advisory Board will be comprised
of up to five members and will meet a minimum of two times per year
and more frequently as required. Members will be appointed to an
initial one-year term, subject to extension by mutual
agreement.
Mr. Wilton is a senior-level geologist with an extensive range
of technical and managerial experience from "greenfields" to
advanced-stage mineral exploration, development, and
production-related geological programs, primarily for gold and
uranium. He is a graduate of the New Mexico
Institute of Mining & Technology with a BGS degree in
Geology and Mineral Engineering and is a Certified Professional
Geologist with the AIPG. In addition to his extensive
experience working in the United
States, Mr. Wilton has wide-ranging geographic experience
including Australia, New Zealand, Russian Far East, Southwest
Pacific region, and Latin America.
Mr. Wilton has managed exploration programs that discovered eight
ore deposits containing more than ten million ounces of gold [all
developed into mines] in the Jerritt Canyon district of
Nevada, Sulphur District,
Nevada and in the Eastern
Goldfields region of Western
Australia. Mr. Wilton's uranium experience spans over 50
year including early on as a mine and/or exploration geologist for
projects in Colorado, Utah and Wyoming. He spent six years with Neutron
Energy, ultimately as the company's Chief Geologist, responsible
for all phases of the Company's technical activities.
In connection with his appointment to the Advisory Board, Mr.
Wilton has been granted incentive stock options to purchase 20,000
common shares of the Company exercisable at a price of $0.61 per share. The options vest in three equal
annual tranches commencing on the grant date and have a term of
five years. The options were issued pursuant to the Company's
omnibus long-term incentive plan and are subject to regulatory
approval.
About International Consolidated Uranium
International Consolidated Uranium Inc. (formally, NxGold Ltd.)
is a Vancouver-based exploration
company. The Company recently entered into options agreements with
Mega Uranium Ltd. (TSX: MGA) to acquire a 100% interest in the Ben
Lomond and Georgetown uranium
projects in Australia, and
IsoEnergy Ltd. (TSXV: ISO) to acquire a 100% interest in the
Mountain Lake uranium project in Nunavut,
Canada. The Company entered into the Mountain lake option
agreement with IsoEnergy on July 16,
2020 and the transaction remains subject to regulatory
approval. In addition, the Company owns 80% of the Mt. Roe gold
project located in the Pilbara region of Western Australia and has entered into an
earn-in agreement with Meliadine Gold Ltd. to earn up to a 70%
interest in the Kuulu Project (formerly known as the Peter Lake
Gold Project) in Nunavut.
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding "Forward-Looking"
Information.
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is
not limited to, statements with respect to activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including the receipt of regulatory
approval of the Offering, use of proceeds of the Offering,
the size of the Offering and completion of the Offering. Generally,
but not always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that regulatory
approval to the Offering will be obtained, that general business
and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed and on
reasonable terms, and that third party contractors, equipment and
supplies and governmental and other approvals required to conduct
the Company's planned exploration activities will be available on
reasonable terms and in a timely manner. Although the assumptions
made by the Company in providing forward-looking information or
making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such
assumptions will prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, reliance on key
management and other personnel, potential downturns in economic
conditions, actual results of exploration activities being
different than anticipated, changes in exploration programs based
upon results, and risks generally associated with the mineral
exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company undertakes
no obligation to update or reissue forward-looking information as a
result of new information or events except as required by
applicable securities laws.
Reader should also be cautioned that where reference is made
to mineralization of adjacent or near-by properties it is not
necessarily indicative of mineralization hosted on the Company's
Property.
SOURCE International Consolidated Uranium Inc.