Toachi Mining Announces Management and Board of Director Changes

TORONTO, Sept. 08, 2017 (GLOBE NEWSWIRE) -- Toachi Mining Inc., (“Toachi” or the “Company”) (TSX-V:TIM) announces that Nick Tintor, the Company’s President and CEO, Co-Founder, since its inception in 2015, will transition the position of President and CEO to Jonathan Goodman effective immediately. The transition is part of the Company’s evolution from exploration towards development and eventually production.

“I would like to thank Nick for his leadership in aligning a compelling and sustainable path forward through the drill stage at the La Plata project to where Toachi will soon announce its maiden 43-101 resource estimate. On behalf of the Board of Directors, we would like to thank Nick for his commitment and contributions to Toachi during the Company’s formative years,” Jonathan Goodman stated.

Nick Tintor stated, “Toachi is an exceptional mining project and Jonathan’s commitment and extensive expertise will ensure a successful future for Toachi as the La Plata project further develops towards production.”

Laurie Curtis, Director, Co-Founder, will be appointed as Chairman of the Board in replacement of Jonathan Goodman.

Mr. Goodman is well known in the Canadian investment community and brings more than 31 years of diverse financial and technical experience in the Canadian and International mining industry.

As the founder of DPM, Mr. Goodman acted as that company’s President and CEO from 1995 to 2013 and continues now as Chairman.

Mr. Goodman joined Goodman & Company, Investment Counsel Ltd. in 1990, where he was responsible for the selection of Canadian equities and played a major role in developing asset allocation strategies, before becoming the company’s President. He is also a founder of Goepel Shields and Partners, an investment firm.

Mr. Goodman graduated from the Colorado School of Mines with a B.Sc. in Geological Engineering and received a Master of Business Administration from the University of Toronto. He is also a professional engineer, a Chartered Financial Analyst, and is a director of several publicly-traded resource companies.

About Toachi Mining Inc.

Toachi brings a disciplined and veteran team of project managers together with a high grade gold-copper-silver-zinc project at La Plata in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities. Toachi Mining has 60,966,435 shares issued and outstanding.

Forward Looking Statements

Certain statements contained in this news release may constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company’s continuous disclosure filings filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Neither 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.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Jonathan Goodman, President and CEO
Telephone: 416 365 2428

Candace Di Vito, Manager, Investor Relations
Telephone: 416 987 0856
Mobile: 647 990 2796
Email: cdivito@toachimining.com