Fokus Mining Welcomes Steve Duchesne to its Board of Directors and Provides Update

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TSX.V: FKM Frankfurt: F7E1  

ROUYN-NORANDA, QC, Nov. 24, 2020 /CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the "Company") has appointed Steve Duchesne to tis board of directors, effective immediately.

Mr. Duchesne is a founding partner of BiomassCarbon, ULC ("Biomass") and has been its president since May 2015. Biomass is a private renewable energy start-up company that plans to manufacture energy pellets and biochars. Prior to forming Biomass, Mr. Duchesne ran Duchesne Advisory, LLC based in Dallas, Texas providing various advisory services.

Mr. Duchesne played in the National Hockey League from 1985 until 2002. He was a three time NHL All Star and a member of the Stanley Cup champion team in the last season of his career. After playing in the NHL, he stayed involved in hockey: he was president and co-owner of the Allen Americans Hockey Club in the ECHL in Allen, Texas for five years and is co-founder of a hockey school in his home town of Sept-Iles, Quebec that has hosted 200 kids every year for the last 35 years.

Jean Rainville, president and CEO of Fokus commented: "I am very pleased to welcome Mr. Duchesne to our board of directors. He is among the most determined person I ever met and has a solid business background. We are happy that he's accepting to be in our team as his initial public market experience".

In connection with Mr. Duchesne appointment to the board of directors, Fokus has granted to him incentive stock options to purchase 200,000 common shares of Fokus pursuant to and in accordance with the terms and conditions of Fokus' stock option plan, subject of any regulatory approval. Each stock option vest immediately and is exercisable at a price of 46 cents per share for a period of three years from the grand date.

Turning to the Galloway Project, the drilling program has started as planned and six holes have now been completed to date on the Moriss gold mineralization sector and samples of four of those holes have already been sent to the lab for assays. All these holes are in-fill drilling in that zone to test continuity of the mineralization and better understand the controls of the mineralization. Results will be released when available. While the drilling continues on Moriss with one drill rig, the second rig will begin the drilling on the Hendricks mineraliezed sector.

Thibaut Segeral has resigned as a director of Fokus, effective immediately. The board of directors and management of Fokus would like to thank Mr. Segeral for his contribution and wish him the best in his future endeavours.

About Fokus

Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Quebec. In implementing this major undertaking within the Canadian mining industry, we are determined to develop the full potential of the opportunity presented by the Galloway project.

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SOURCE Fokus Mining Corporation

Jean Rainville, President & Chief Executive Officer, Tel.: [phone], Fax: [phone], Email: [email protected]