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LeadFX appoints Worland as CEO, corporate secretary

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hitpaydirt   Tuesday, 10/03/17 10:24:55 PM
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LeadFX appoints Worland as CEO, corporate secretary

2017-09-29 17:07 ET - News Release


Mr. David Warner reports

LEADFX ANNOUNCES THE APPOINTMENT OF ANDREW WORLAND AS CEO

LeadFX Inc. has appointed Andrew Worland as chief executive officer and corporate secretary, replacing Rob Scargill as part of the transition changes resulting from the termination of the management services agreement with Enirgi Group Corp. announced on Aug. 18, 2017.

Mr. Worland is a seasoned mining executive based in Perth, Western Australia, and has over two decades of experience working in senior finance, corporate and project management and marketing roles in the Western Australian mining sector for Australian Securities Exchange- and Toronto Stock Exchange-listed companies. Most recently, he has held the role as general manager and company secretary of ASX-listed Toro Energy Ltd., whose main undertaking is the Wiluna project, located approximately 50 kilometres from LeadFX's flagship Paroo Station mine in Western Australia. In that role, Mr. Worland has overseen the Wiluna project's successful state and federal environmental permitting efforts, and managed Toro Energy's project development team, and corporate, financial and business development activities. Prior to Toro Energy, Mr. Worland was part of the executive team of Moly Mines Ltd., which successfully completed a dual listing on the ASX and TSX in 2006. His commodity experience includes nickel, cobalt, gold and iron ore operations, and marketing molybdenum and uranium. Mr. Worland's appointment will be effective Oct. 1, 2017.

David Warner, chairman of the board, comments: "I would like to thank Rob for all of his hard work and commitment over his tenure with the company. His experience and expertise in the Australian mining industry has been invaluable. I would also like to welcome Andrew as the new CEO. With his extensive background in finance, and mine development and management, he will be an asset to the company as we move forward with our strategic partner, InCoR."

Further to LeadFX's news release dated Aug. 18, 2017, as part of the changes effected by the termination of the management services agreement, the company will consolidate its project management, finance, corporate and administrative functions, and will operate out of its Perth office. The hyrdometallurgical refinery definitive feasibility study (DFS) being undertaken by SNC Lavalin Perth is progressing well and is expected to be completed in the fourth quarter of 2017. Permitting consultation and planning activities with respect to the potential refining operations are under way, and economic evaluations of the most attractive mine restart propositions are being analyzed in conjunction with the DFS and permitting programs.

The LeadFX board is confident that the company is positioning itself well to capitalize on the strengthening base metals sector for all its shareholders and community stakeholders. LeadFX is well supported by its majority shareholder, the Sentient Global Resources Funds, along with its technology and financing partners, InCoR Technologies Ltd. and InCoR Energy Materials Ltd., and a driven project and finance management team in Western Australia.

About LeadFX Inc.

LeadFX is a mining company focused on the development of lead projects located in stable jurisdictions. The company's current portfolio includes a restart-ready lead operation in Western Australia and a development project in Utah. LeadFX trades under the symbol LFX on the Toronto Stock Exchange.

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