Sonoro Announces Results of Annual General Meeting

VANCOUVER, British Columbia, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP), (“Sonoro” and the “Company”), announces the results of its Annual General Meeting of Shareholders (the “Meeting”) held September 4, 2020 in Vancouver, BC. At the Meeting, shareholders approved all resolutions put before them by management including the election of all director nominees, the re-appointment of the auditors and the approval of the Company's share incentive plan.

Results of Annual General Meeting

The shareholders voted to set the number of directors at six, re-elected John M. Darch, Kenneth MacLeod, Stephen Kenwood, Neil Maedel and James Taylor and elected Curtis Turner to serve as directors of the Company until the next annual meeting of the shareholders. The shareholders re-appointed Smythe LLP, as the auditors of the Company for the ensuing year and approved the continuance of the Company's 10% rolling share option incentive plan.

Following the Meeting, the Board appointed Kenneth MacLeod, Stephen Kenwood and Curtis Turner to its Audit and Compensation Committees. The Board also reappointed Kenneth MacLeod as President and Chief Executive Officer, Salil Dhaumya as Chief Financial Officer, Katharine Regan as Corporate Secretary and Jorge Diaz as Vice President, Operations.

Election of Curtis Turner as a Director

Mr. Turner has over 15 years’ experience in business and finance; including mergers and acquisitions, public reporting and operations, as well as community and government relations. He is currently the CFO for Rawhide Mining LLC, a producing heap-leach gold mine in Nevada, which is majority owned by Coral Reef Capital, a Private Investment firm. Previously, Mr. Turner was the CEO and director of Candelaria Mining Corp. and held a senior management position at Argonaut Gold Inc., where he was a key member of the team that successfully completed four acquisitions totaling over $700 million. Prior to his position at Argonaut Gold, Mr. Turner was CFO at sodium cyanide manufacturer Cyanco International LLC., Director of Finance at Yamana Gold Inc. and Corporate Controller at Meridian Gold Inc.

Appointment of Jorge Diaz as Vice President, Operations

Mr. Jorge Alberto Diaz Avalos has been appointed to the position of Sonoro’s Vice President, Operations.  He has been engaged as an independent consultant to Sonoro since the acquisition of the Cerro Caliche project and his responsibilities will now expand to include the management of all aspects of field operations. Mr. Diaz is a mining engineer with a master’s degree in Mining Engineering from the Colorado School of Mines and has an extensive background in mine development. He had a successful and long career with Peñoles and Luismin where he developed underground and open pit operations. He directed the development, construction and operations of both the La Colorada project for Eldorado Gold and later the Cieneguita heap leach mine for Glamis Gold.  As General Manager he led the multinational team that developed Alamos Gold’s Mulatos Mine and also directed the design, construction and start of production of Morgain Minerals El Cairo Mine.

Through his consulting, engineering design and construction services company, Interminera, Mr. Diaz led the development of Pediment Gold’s and later Argonaut Gold’s La Colorada mine and the San Antonio deposit.  He subsequently discovered a gold deposit in Quiriego, Sonora State, which he is currently operating as an open-pit heap-leach mine. 

“We are pleased to welcome Mr. Turner to the Sonoro Board and Mr. Diaz to our senior management team,” said Kenneth MacLeod, President and CEO of Sonoro. “Both have considerable experience in the design, permitting, construction and operation of open pit mining projects and previously enjoyed a close working relationship during their respective engagements with Argonaut Gold. Their expertise will be of considerable benefit to Sonoro as we progress toward the Preliminary Economic Assessment phase for the Cerro Caliche project.”

Share Option Plan

Sonoro has granted, under its Share Option Plan, incentive stock options to certain directors of the Company to purchase an aggregate of 550,000 common shares exercisable for a period of up to three years from the date of grant at a price of $0.30 per share.  This grant is subject to acceptance for filing by the TSX Venture Exchange.

About Sonoro Metals Corp.

Sonoro Metals Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.

On behalf of the Board of SONORO METALS CORP.

Per:        “Kenneth MacLeod”

                KENNETH MACLEOD

                President & CEO

For further information, please contact:

Sonoro Metals Corp. - Tel: (604) 632-1764

Email:

                                                                    

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