Vancouver, British Columbia--(Newsfile Corp. - September 1, 2023) - Plata Latina Minerals Corporation (TSXV: PLA) ("Plata Latina" or the "Company") announces that its President and CEO and Chair of the Board of Directors, W. Durand Eppler, will retire effective immediately for personal and health reasons. The Company has appointed Mr. Gil Clausen as interim President and CEO and Chair of the Board of Directors as the Company undergoes a strategic review process.
As one of the founding members of Plata Latina, the Company thanks Mr. Eppler for his dedication to the Company from inception and for his leadership as Chair and CEO over the last five years. He successfully completed the sale of the Naranjillo project to Fresnillo and managed the downsizing of the current property portfolio to conserve limited cash resource. The Company wishes Mr. Eppler the best in his well-deserved retirement.
Mr. Clausen is one of the founders of Plata Latina and was previously Chair of the Company. He is a recognized mining executive with more than 30 years' experience in the areas of senior management, finance, development and operations in the base and precious metals industry. He was most recently President and CEO and Director of Copper Mountain Mining Corporation, which was acquired by Hudbay Minerals Inc. in June 2023. Prior to that, Mr. Clausen was President and CEO and Director of Brio Gold Inc., which was acquired by Leagold Mining Corp in May 2018, and President and CEO and Director of Augusta Resource Corporation, which was acquired by Hudbay Minerals Inc. in September 2014. Mr. Clausen has a Bachelors and Masters degrees in Mining Engineering from Queen's University.
About Plata Latina Minerals
Plata Latina Minerals was a Canadian exploration company which was in the business of exploring and evaluating mineral property assets, principally in Mexico. The Company has since sold or relinquished its interests in four Mexican mineral properties and is undergoing a strategic review process, which includes capitalizing on the value of the Company as a clean listed shell with modest cash and cash flow. Following the completion of an option agreement in 2020 where the Company sold its Naranjillo Property to Fresnillo for a total of US $2,150,000 over three years, Plata Latina currently receives advance royalty payments of US $100,000 until the earlier of (i) US $1,000,000 of advance royalty payments have been paid, or (ii) Naranjillo commences commercial production of minerals. The Company also was granted a 3% net smelter return royalty.
For more information, please contact:
Patricia Fong
Chief Financial Officer
Telephone: +1 800 933 9925
Email: patricia.fong@plminerals.com
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