Velocity Announces New Director

VANCOUVER, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) — Velocity Minerals Ltd. (TSX.V: VLC) (“Speed“or the”Company”) announces the appointment of Chris Batalha to its Board of Directors (the “Plank”), as agent for Artemis Gold Inc. under the strategic investment agreement of January 16, 2019 between the parties, replacing Steven Dean. Mr. Dean has resigned as a director of Velocity effective March 23, 2022, but will remain an advisor to the board.

Chris Batalha

Chris Batalha is a Chartered Professional Accountant with over a decade of experience in accounting, finance, corporate governance, tax, budgeting and mergers and acquisitions with a number of mining exploration and development companies in the field of gold and iron ore. Currently, Mr. Batalha is the CFO of Artemis Gold Inc., owner of the Blackwater Gold Project in central British Columbia, as well as the CFO of Oceanic Iron Ore Corp.

From 2014 to 2019, Mr. Batalha served as Chief Financial Officer of Atlantic Gold Corporation, specializing in the exploration, development and production of gold in Nova Scotia, until its sale to St. Barbara Limited in 2019 for $802 million, after building its Moose River Consolidated mine on time and budget and operating at the lowest decile cost profile in the gold business. Mr. Batalha previously spent more than five years at PricewaterhouseCoopers (PwC) in the audit and assurance group.

Mr. Batalha holds CPA and CA designations and a Bachelor of Commerce degree from the University of British Columbia.

About Velocity Minerals Ltd.

Velocity is an exploration and development company focused on southeastern Bulgaria. Velocity’s strategy is to develop a centralized, low-cost “Hub and Spoke” operation whereby multiple projects in this emerging district produce concentrates for trucking to a central processing plant for walleye production. Velocity holds a 70% interest in the Tintyava property, which includes the Rozino project, a 70% interest in the Momchil property, which includes the Obichnik project, a 70% interest in the Nadezhda property, which includes the Makedontsi project, and a 100% equity interest in the Iglika property. Velocity’s management and board of directors include mining industry professionals with combined experience spanning Europe, Asia and the Americas as employees of major mining companies as well as founders and senior executives small and medium-sized public companies. The team’s experience includes all aspects of mineral exploration, resource definition, feasibility, financing, construction and mine operations, as well as management experience. of listed companies.

On behalf of the Board of Directors

“Keith Henderson”

President and CEO

For more information, please contact:

Keith Henderson
Phone: +1-604-484-1233
Email: [email protected]
Web: www.velocityminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the information. prospective. These risks and other factors include, among others, statements regarding the Company’s anticipated business plans and timing of future activities, the Company’s ability to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory (including TSX Venture Exchange) approvals, permits or financing, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title litigation or claims, environmental issues and liabilities , risks related to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, failure of the Company to obtain permits, consents, approvals ations or approvals required, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint ventures and other risks and uncertainties disclosed in the Company’s continuous disclosure documents. All of the Company’s Canadian public filings are available through www.sedar.com and readers are encouraged to consult such filings.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statements contained in this press release or incorporated by reference herein, except as otherwise required by law.

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