(AIM Ticker: LND.L)

LONDON, June 29, 2023 /CNW/ – Landore Resources Limited (AIM: LND) (“Landore” or the “Company”) is pleased to announce the appointment of Mr Claude Lemasson as Chief Executive Officer (“CEO”) of the Company with effect from 4 July 2023 and the intended dual listing of the Company on the TSX Venture Exchange (“TSX-V”).

Further to the Company’s announcement of 22 May 2023, Landore has now successfully concluded its comprehensive search and selection process for a replacement CEO. Claude will initially assume the role of CEO, in a non-board capacity with a view to joining the Board in due course. Accordingly, Glenn Featherby, currently Finance Director of the Company, will no longer be required to assume the position of interim CEO upon Bill Humphries’ retirement on conclusion of today’s Annual General Meeting, and will remain in his current role as Finance Director.

Claude (P.Eng, MBA, ICD.D) , based in Toronto, Canada, is a highly credentialled individual, with over 30 years’ experience in exploration, development, mine construction and producing mining operations throughout the Americas. He also brings board experience, having acted as a director of several junior publicly listed mining companies.

Most recently, Claude was Lead Independent Director at Premier Gold Mines Limited and a former President & Chief Executive Officer and Director of TSX-listed Eastmain Resources Inc. (“Eastmain”) where he was responsible for the leadership and strategic direction of the company. During his tenure, Claude managed three gold projects in James Bay, Quebec, Canada, and advanced Eastmain from being a pure exploration to a development company.

Throughout his career, Claude has been responsible for the design, construction, implementation, management and supervision of multiple aspects of both open-pit and underground gold mining operations. Claude previously held senior mine development and operational roles with Goldcorp Inc. and previously served as President, Chief Operating Officer and Director of Guyana Goldfields Inc.

In addition, the Company announces that it is in the process of seeking a dual listing on the TSX-V with admission currently being targeted for Q3 2023. In light of the location of the Company’s flagship project in the province of Ontario and the Group’s Canadian operations, it is believed that procuring such a dual listing and enhanced profile in such a well renowned and strong mining jurisdiction will serve to generate renewed investor interest and enhanced liquidity for the benefit of shareholders as a whole. The Company’s abovementioned new CEO will oversee the TSX-V dual listing process, will be based in Toronto, and is well-known and well-connected to brokers and institutional and retail investors in Canada. The Company will retain its AIM quotation in London and Claude will maintain regular communication with UK and European investors via roadshows, meetings and electronic communications as appropriate. A further update(s) on the intended dual listing will be provided in due course.

Glenn Featherby, Finance Director of Landore Resources, today commented:

“We are delighted to welcome Claude to our senior management team as CEO of Landore. Claude’s considerable experience in the mining industry and as a director of a number of publicly listed junior mining companies will serve to enhance and augment the team’s existing skillset as we seek to unlock the inherent value within the Company’s existing asset portfolio for the benefit of all of our stakeholders. We also look forward to obtaining a dual listing on the TSX-V to capitalise on investor interest in the Company in Canada and enhance liquidity in the Company’s shares.”

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

SOURCE Landore Resources Limited