Eagle Royalties Appoints Stephen Kenwood as Director, Brent Bonney as Advisor; Options Issued
CRANBROOK, November 14, 2024 - Eagle Royalties Ltd. ("ER.CN":CSE, or "Eagle Royalties") is pleased to announce the appointment of Stephen Kenwood as independent director, effective November 5th, 2024. Mr. Kenwood is a professional geologist with over 35 years of experience in the mineral exploration industry, and served a director of Ely Gold Royalties until the company was acquired by Gold Royalty Corp. in 2021 in a transaction valued at approximately CDN $300M.
The company is also pleased to announce the appointment of Mr. Brent Bonney to the Advisory Board, joining Mr. Glen Diduck. Mr. Bonney has considerable experience in the mining royalty space, having served as a senior officer with Maverix Metals prior to its acquisition by Triple Flag Precious Metals in a transaction valued at approximately US$600M.
Mr. Kenwood currently serves as a geological and management consultant to public and private companies. Mr. Kenwood received a Bachelor of Science (Geology) from the University of British Columbia in 1987 and became a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) in 1990. Mr. Kenwood has experience in advanced project development, in British Columba at the Snip gold deposit while working for Cominco Ltd. and at the Eskay Creek polymetallic deposit. Mr. Kenwood also worked at the Cobre copper-gold porphyry project in Panama, and has worked on projects in Peru, Chile, Slovakia, the United States and in China. Mr. Kenwood was also a director and officer of Ely Gold Royalties Inc. from 2010 - 2021. Mr. Kenwood is currently a Director, President and CEO of Majestic Gold Corp. and is a director of other TSX listed companies.
Mr. Bonney was the Vice President of Corporate Development for Maverix Metals, a precious-metals focused royalty company that was acquired by Triple Flag Precious Metals in 2023. Prior to that, Mr. Bonney spent 10 years in investment banking advising resource clients on both mergers & acquisitions and financing. Mr. Bonney holds a Bachelor of Commerce (Honours) in Finance from the University of British Columbia.
Options Issued
Eagle Royalties has granted incentive stock options of the Company for the purchase of a total of 700,000 shares at an exercise price of $.30 per share, expiring November 13th 2029, pursuant to the Company's current option plan (subject to shareholder and regulatory approvals).
About Eagle Royalties Ltd.
Eagle Royalties benefits from maintaining a strong treasury and holds a diverse portfolio of 38 royalty interests in western Canada. Target commodities subject to royalties include a broad spectrum including critical metals, precious metals, industrial minerals and diamonds. Its flagship royalty is associated with the AurMac Project located in Yukon, operated by Banyan Gold Corp. ER holds royalty interests ranging from 0.5% to 2% on claims that contain a significant portion of AurMac's inferred gold resource located at the Powerline and Airstrip deposit areas. Eagle Royalties also holds royalty interests on a number of historical base metal deposits located in Western Canada.
Eagle Royalties was previously a wholly-owned subsidiary of Eagle Plains Resources Ltd. ("EPL":TSXV), incorporated in late 2022 to manage the diverse royalty holdings of EPL. In May 2023, ER listed on the CSE after being spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information regarding ER, please contact Mike Labach, Business Development Officer, at 1 866 HUNT ORE (486 8673)
Email: info@eagleroyalties.com or visit our website at https://www.eagleroyalties.com/
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Royalties Ltd.
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