NEW YORK, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of OTC Markets listed Company Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) is pleased to confirm that an agreement has been reached for the appointment of Elpidio Reis (Dual Brazilian and US National), Charles Heather (United Kingdom National) and Lord Christopher Wellesley (United Kingdom National), as Executive Directors. These appointments are part of the binding agreement to acquire a 75% interest in a producing gold mine located in the state of Tocantins, central Brazil. The new directors will join the board upon the completion of the Tocantins Mine Acquisition Agreement, for a minimum period of 2 years.

Elpidio Reis is Head of Exploration and Mining for GeoBlocks Exploration and a geological and mining consultant and advisor to several organisations, including the World Bank. He was a Director of Rio Tinto Brazil for 12 years, and Country Exploration Manager for Billiton for 15 years and is an Instructor of the JORC Code. Also, Elpidio is the author of the Queens University MSc Thesis on the “Production and Potential of Gold Mining in Brazil”.

Charles Heather has undertaken business in several countries and is the founder of GeoBlocks Exploration Limited. He has been in business for over 40 years in both the aviation sector and in minerals exploration and mining and has over 20 years' experience in the Latin American minerals sector. Inter alia, Charles founded the innovative Africa One (https://en.wikipedia.org/wiki/Africa_One) airlines network in partnership with Boeing Capital Corporation. Also, for many years, Charles owned a specialist aviation services company that provided global air transport solutions for challenging logistical and humanitarian programs on behalf of governments and the United Nations and leading NGO's.

Lord Christopher Wellesley, whose brother is the 9th Duke of Wellington, is the CEO of GeoBlocks Exploration Limited. Christopher has over 30 years’ experience in the investment banking industry, specifically capital markets and investment. During his career, he has held senior executive positions in London and Hong Kong with Warburg, Merrill Lynch, Tristone Capital and Macquarie Group.

“We anticipate welcoming Elpidio Reis, Charles Heather and Christopher Wellesley to the Brookmount Gold team,” said Brookmount’s CEO, Nils Ollquist. “With their proven leadership skills and deep understanding of the industry, Elpidio, Charles and Christopher will perfectly complement the resources of our existing board members and will help us continue to provide exceptional value to our shareholders.”

Founded in 2018, Brookmount Gold is a high-growth gold-producing Company incorporated and listed on OTC Markets in the United States (OTC: BMXI) (BMXI.US) with operating gold mines in Southeast Asia and exploration and production assets in North America. The Company is actively looking to secure additional high-quality gold assets with JORC/NI 43-101 verified resources.

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Except for the historical information contained herein, certain of the matters discussed in this communication constitute 'forward-looking statements' within the meaning of the Securities Litigation Reform Act of 1995. Words such as 'may,' 'might,' 'will,' 'should,' 'could,' 'anticipate,' 'estimate,' 'expect,' 'predict,' 'project,' 'future,' 'potential,' 'intend,' 'seek to,' 'plan,' 'assume,' 'believe,' 'target,' 'forecast,' 'goal,' 'objective,' 'continue' or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount's common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.