Vancouver, British Columbia – May 25, 2021: ALTAIR RESOURCES INC. (“ALTAIR” or the Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP), on behalf of the Board of Directors, ALTAIR is pleased to report that Mr. George S. Young has been appointed as new Chair and CEO.
Mr. Young is a metallurgical engineer and lawyer with over 40 years of management, project finance and development experience in the mining and utility industries, including the development, construction, permitting, acquisition or financing of over 20 mining and utility projects in North and South America. He served as General Counsel of Bond International Gold, Inc., a NYSE listed company until its acquisition by Barrick Gold Corp., and senior roles in many successful public companies, including as founding President of MAG Silver Corporation and as a founder of International Royalty Corporation. Mr. Young graduated with a B.S. degree (with honours – Magna cum Laude) in Metallurgical Engineering from the University of Utah in 1975, and also received a JD degree (with honours) from the University of Utah College of law in 1979.
“I am pleased to join the ALTAIR team and lead the efforts going forward on promising opportunities”, stated Mr. Young. “Let me also thank Jeffrey Steiner for all his successful efforts in bringing the Company into perfect compliance and stability under his leadership following the passing of previous CEO & Chair Roy Shipes last summer and through COVID, ensuring all required statutory and exchange reporting”, added Mr. Young. Mr. Steiner will remain involved with ALTAIR as a member of its Advisory Board. The Company also expects to appoint additional directors to add to the overall technical and mining industry experience on its Board of Directors. The new leadership group headed by CEO George Young, who has raised substantial funds and participated in the acquisition and development of several mining projects, expects to achieve positive progress toward building tremendous shareholder value.
The recently 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.
The Simon Property is only the first property acquisition which ALTAIR has arranged in 2021. ALTAIR is 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
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.