Tarku announces the Grant of Stock Options and Board appointment
MONTREAL, November 11, 2020. Tarku Resources Ltd (TSX-V: TKU) (the “Company” or “Tarku”) announces that the board of directors has approved the grant of 3,200,000 stock options (“Options”) pursuant to the Company’s Stock Option Plan. The options, which were granted to directors, officers and consultants of the Company, are exercisable at a price of $0.17 per share. If not exercised, the Options will expire on November 11, 2025, subject to earlier expiration in accordance with the Stock Option Plan and the applicable policies of the TSX Venture Exchange.
Changes to the Board
The Board of Directors of Tarku also announces the appointment of Mr. David Watkinson, P.Eng. as Independent Director to the Board of Directors, effective immediately. Concurrent with Mr. Watkinson’s appointment, the Board of Directors has accepted the resignation of Mr. Tim Termuende, who has served the Company as a founding board member for over nine years. The Board wishes to thank Mr. Termuende for his service to the Company and its shareholders and wish him well in his future endeavours.
Mr. Watkinson brings over 35 years of professional engineering experience in underground and open pit mine development, including mine permitting, engineering, feasibility, construction, and operations to Tarku. In addition, Mr. Watkinson has extensive experience in project management, having taken projects from grass roots start-up to successful operating status. Mr. Watkinson has been responsible for management of large capital projects and operations in Canada, the United States and the Philippines. He has progressively held senior positions with Placer Dome Inc., Kinross Gold Corporation, Thyssen Mining Construction and Vulcan Materials Company. Mr. Watkinson holds a B.Sc. in Applied Science, Mining Engineering, from Queen’s University in Kingston, Ontario (1985) and is a Registered Professional Engineer in the Province of Ontario. He is President and CEO of Emgold Mining Corporation.
Julien Davy, president & CEO of Tarku, stated: “On behalf of the board, I would like to warmly welcome David to the Tarku Board of Directors. His strong experiences in the development of exploration projects will be extremely valuable to Tarku looking at our Tombstone property in Arizona. We look forward to working with him as we see renewed interest in exploration for gold, silver and base metals.”
About Tarku Resources Ltd. (TSX.V : TKU)
Tarku is an exploration company focused on making new discoveries in favourable mining jurisdictions. In Quebec, Tarku owns 100% on the “Three A’s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, Tarku owns the option to acquire 75% on 20km2 in the Silver Mining District of Tombstone.
Tarku Contact Information:
Julien Davy, President & CEO
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.