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Stellar AfricaGold Appoints a New Director and a Senior Technical Advisor for Africa

04.12.2019  |  The Newswire

Montreal - TheNewswire - December 4, 2019 - John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSXV:SPX) ("Stellar" or the "Company") is pleased to announce the appointment of a new director and a senior technical advisor.

Yassine Belkabir Appointed as Director

Stellar is pleased to announce the appointment of Yassine Belkabir, MScDIC, CEng, MIMMM to its Board of Directors.

Mr. Belkabir, of Casablanca, Morocco, is a chartered engineer with a Diploma from Imperial College and a Master Degree in Metals and Energy Finance from the University of London. He is also a Member of the Institute of Materials, Minerals and Mining (IOM3) London, England, and a Qualified Person under National Instrument 43-101. Mr. Belkabir has extensive experience assessing mineral properties and managing multidisciplinary teams.

Mr. Belkabir is the founder and managing partner of the African Bureau of Mining Consultants (ABM) of Casablanca, Morocco, where he supervises multiple mandates in Morocco, Mali, Burkina Faso, Guinea, Cote d'Ivoire and Tunisia. He served previously as Director of Mergers and Acquisitions for Managem Group, a publicly traded mining group listed on the Casablanca Stock Exchange. Managen has over 90 years operating history in the exploration and production of base and precious metals in Africa. As a team leader, Mr. Belkabir supervised multiple completed transactions in Africa, including the recent successful sale of Stellar's own Balandougou Gold Project in Guinea, and for Managem Group the sale of Pumpi Copper-Cobalt project in the Democratic Republic of Congo and the acquisition of Tri-K Gold Project in Guinea.

Dr. Ali Saquaque Appointed as Senior Technical Advisor

Stellar is equally pleased to announce the appointment of Dr. Ali Saquaque, PhD, as Senior Technical Advisor for Africa.

Dr. Saquaque, PhD (Geology), a well-recognized university professor credited with over 50 publications, is a mining professional with expertise in the structural geology of Africa.

Dr. Saquaque is Associate Director of the African Bureau of Mining Consultants. As senior geology partner at ABM and over 37 years of geological experience he develops exploration strategies for mining companies across Morocco, Guinea, Cote d'Ivoire, Senegal, Sudan and Mali. Since beginning his career 1982, Dr. Saquaque has led numerous exploration programs for mining groups throughout Africa. From 1994 to 2015 Dr. Saquaque worked for the Managem Group and held several senior positions including Director of Exploration and a member the Board of Directors of Managem Group affiliates. Dr. Saquaque notably contributed to several greenfield and brownfield discoveries, including the Mana Gold Mine in Burkina Faso, the Kiniero Gold Mine extension in Guinea, the Pumpi Copper-Cobalt Project in the Democratic Republic of Congo, the Eteke Gold Project in Gabon, the Blocs 24 and 8 in Sudan, the Guemassa Polymetallic Mine extension in Morocco and others. Dr. Saquaque also served as professor and head of the geology department, University of Cadi Ayyad, Marrakech from 1983 To 1994.

Commented Stellar President and CEO John Cumming "As Stellar enters a new era Mr. Belkabir and Dr. Saquaque's combined depth of expertise and breadth of experience will be of incalculable value as Stellar seeks to acquire, explore and exploit new mineral opportunities across North and West Africa. We welcome their contributions to building an exciting, new African mineral exploration venture."

NEW EXPLORATION ACQUISITIONS

In October 2019 Stellar completed the sale of its Balandougou Gold Project in Guinea for C$5.15M. (See news release October 30, 2019) The Company is actively reviewing potential new exploration opportunities in two attractive but still under-explored African jurisdictions, Morocco and Ivory Coast. Further announcements will be made as decisions are taken.

ABOUT STELLAR AFRICAGOLD INC.

Stellar AfricaGold Inc. is a Canadian gold exploration company with offices in Vancouver, BC and Montreal, QC.

Additional information is available on the Company's website at www.stellarafricagold.com.

On Behalf of the Board

John Cumming, LLM,

President & CEO

This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company's current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.

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.

Copyright (c) 2019 TheNewswire - All rights reserved.


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