Vancouver, British Columbia – May 28, 2021: ALTAIR RESOURCES INC. (“ALTAIR” or the Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP), George S. Young, on behalf of the Board of Directors is pleased to report that Dr. Michael G. Nelson and Mr. Wayne Koshman have been appointed as new directors of the Company.
Dr. Michael G. Nelson is a mining and metallurgical engineer with 46 years of experience in the mining industry, and as a mining professor. He worked full-time in the private sector for 20 years, with U.S. Steel, Kennecott Copper, Westinghouse Electric, Consolidation Coal, and EIMCO Process Equipment. Dr. Nelson was Professor of Mining Engineering and Manager of the Silver Fox Mine at the University of Alaska Fairbanks for 5 years, and is now Professor of Mining Engineering at the University of Utah, where he recently served as Department Chair for 11 years. Dr. Nelson teaches courses and conducts research in mine ventilation, health and safety, machine automation, statistics, risk management, and mine finance. He holds eight U.S. and one Canadian patent, all in mining and mineral processing technology. In 2019, he was recognized as Distinguished Member and Fellow of the Society for Mining, Metallurgy, & Exploration. Dr. Nelson graduated with a B.S. degree (with honours – cum laude) in Metallurgical Engineering in 1975 and an M.S. degree in Physics in 1983, both from the University of Utah. In 1989 he received a Ph.D. degree in Mineral Engineering from West Virginia University.
Mr. Wayne Koshman, a resident of Vancouver, has a 30-year business career, with a successful track record as an entrepreneur and businessman in the mining and oil & gas sectors. Mr. Koshman has entered diverse and challenging markets and countries and have been able to succeed where many others have not. He has leveraged his experience and networks in the resource sector, completing business transactions exceeding $200 million. In 2020, he founded Red Sea Resources an Egypt-focused gold exploration and development company that has recently won 5 significant exploration blocks in Egypt’s Eastern Desert. Mr. Koshman founded Tunisia based Voyageur Oil and Gas a company that invested nearly $150 million with its partner Anadarko Petroleum to discover one of the largest shale gas deposit in North Africa. He also founded Dynasty Gold, one of the first Canadian mining companies to enter China completing two joint ventures with Chinese state mining companies. He was President of Terrawest Resources a Chinese based coal bed methane exploration company. Terrawest was the first foreign company to sign an onshore PSA with PetroChina for the development of coalbed methane fields in Northwest China.
“ALTAIR is very fortunate to have recruited Dr. Nelson and Mr. Koshman to join the team and their experiene and connections will contribute to success on the Company’s promising opportunities”, stated Mr. Young. “We are stepping up with this significant technical and mining industry experience onto the Board of Directors” CEO Young added. The two new directors fill current vacancies on the board and are also recommended for election at the Company’s upcoming Annual General Meeting on June 24th. Mr. Koshman will also provide his skills and expertise to the Company by serving on the management team as Vice-President of Corporate Development beginning June 1st.
The previously announced letter of intent with International Millennium Mining Inc. to acquire a 65% interest in the Simon Property located in the state of Nevada represents a beginning to ALTAIR’s growth process. A past producer, the Simon Property presents an excellent opportunity for adding value employing low-cost exploration activities to identify prime drilling sites in six anomalous zones previously identified with gold, silver and copper mineralization. The Simon Property lies within the region that hosts the prolific Tonopah District, the Round Mountain gold mine, and numerous other successful mining projects.
ALTAIR is also continuing with its consideration and negotiations on other properties. The Company is evaluating the potential to acquire producing precious metal and non-ferrous metal opportunities in North and South America and Africa, in addition to Kazakhstan and Central Asia.
The reader is cautioned that these data cannot be relied upon for investment purposes and that any such data need to be confirmed by a qualified person.
The material in this press release has been reviewed and approved by Dr. Stewart A. Jackson, PGeo, a qualified person under National Instrument 43-101, independent of the company.
ON BEHALF OF THE BOARD,
George S. Young, Board Chair and President & CEO
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This press release contains forward-looking statements with respect to the Company. By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements.
Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, the completion of the private placement and the Company receiving regulatory approval to the partial revocation order. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the Company receiving regulatory approval to the private placement and the partial revocation order application.
The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.