TORONTO, Aug. 25, 2021 - Superior Gold Inc. ("Superior Gold" or the "Company") (TSXV: SGI) is announcing today changes to its corporate structure and management team, designed to streamline operations and enhance the Company's growth strategy as it expands production at its 100% owned Plutonic Gold Operations located in Western Australia.
Chris Jordaan, President and CEO of Superior Gold, commented, "As part of our strategy to increase profitability, streamline our operations and embed agility and scalability, we have re-organized our corporate structure to further drive the transformation of the Company. We expect these changes will result in cost reductions and provide an increased focus on execution of our strategy."
In implementing these changes, certain executive roles have been eliminated and the Company's executive team has been reduced, resulting in each of Keith Boyle, Chief Operating Officer and Brian Szeto, Vice President, Corporate Development, who have both made important contributions to the Company, leaving Superior Gold to pursue other interests.
"Both Keith and Brian have made valuable contributions to Superior Gold," added Mr. Jordaan. "On behalf of the Board and all of the Company's stakeholders, I thank them for their years of service and wish them every success in the future."
The Company further announces that the current General Manager (GM) Plutonic Operations, Russell Cole, will now take on the role of General Manager Plutonic and Vice President (VP) Operations, assuming the responsibilities of the outgoing COO and report directly to the CEO. The Company expects a seamless transition of such responsibilities. Russell Cole is an experienced General Manager with over 30 years' experience in Gold, Nickel, Tin, Coal and Construction, managing mine operations, feasibility studies and start up projects including open cut and underground mines. He graduated from WA School of Mines as a Mining Engineer and also has a First Class Mine Managers Certificate and Master of Business Administration.
Keith Boyle commented, "I'm extremely pleased how we've positioned the Plutonic Mine, and Superior Gold, for the future by meeting our short term production goals while beginning to develop the full potential of the property and the Company. The potential of the property is second to none, the dedicated team is focussed on realizing it and I wish them the best of luck in realizing that potential over the coming months."
The Investor Relations function will be assumed by the Chief Financial Officer, Paul Olmsted.
In addition, the Company is pleased to announce that it is in the process of identifying and engaging qualified candidates to fill a new role of VP/General Manager, Business Planning and Development that will also be based in Perth, Australia and will report directly to the CEO.
About Superior Gold
Superior Gold is a Canadian based gold producer that owns 100% of the Plutonic Gold Operations located in Western Australia. The Plutonic Gold Operations include the Plutonic underground gold mine and central mill, numerous open pit projects including the Plutonic Main Pit push-back project, the Hermes open pit projects and an interest in the Bryah Basin joint venture. Superior Gold is focused on expanding production at the Plutonic Gold Operations and building an intermediate gold producer with superior returns for shareholders.
Cautionary Note Regarding Forward Looking Information
This release may contain forward-looking statements. 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 be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements related to, among other things, the appointment of replacement management. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Neither the TSX Venture Exchange (the "Exchange") not its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Superior Gold Inc.
Paul Olmsted, Chief Financial Officer