REG - URU Metals Limited - Update from ZEB Nickel Corp

URU MetalsAnnouncement

28/02/2023 14:00

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RNS Number : 3240R  URU Metals Limited  28 February 2023

28 February 2023

URU Metals Limited

("URU")

Update from ZEB Nickel Corp

URU notifies that ZEB Nickel Corp. has today announced that Mr. Richard
Montjoie, the current VP Exploration, will be appointed to the role of interim
CEO of Zeb Nickel Corp. This change in leadership comes as the outgoing CEO,
Mr. Wayne Isaacs, steps down to pursue other opportunities.

 

URU successfully completed the disposal of Zeb Project, located in Limpopo,
South Africa (the "Project") to ZEB Nickel Corp. in August 2021 and the
Project remains the primary focus of URU, through its 73.81% interest in Zeb
Nickel Corp. and URU's continuing role as the technical adviser on the
Project.

 

The ZBNI announcement is as follows:

 

Zeb announces new interim CEO

Vancouver, BC, February 27, 2023 - ZEB Nickel Corp. (ZBNI:TSX-V) (OTC:ZBNIF)
("Zeb" or the "Company") is pleased to announce that Mr. Richard Montjoie, the
current VP Exploration, will be stepping into the role of interim CEO. This
change in leadership comes as the outgoing CEO, Mr. Wayne Isaacs, steps down
as CEO and director to pursue other opportunities.

Mr. Montjoie, who is based in South Africa, brings a wealth of experience to
his new role, having been with Zeb for over a decade and playing a pivotal
role in the exploration efforts that have led to the discovery of several
nickel deposits. He was also involved in the exploration and development of
the Lesego Platinum Project, leading to the discovery of a 47-million-ounce
high-grade PGE deposit, containing over 514,000 tons of nickel. Mr. Montjoie
then successfully advanced the project through to completion of a definitive
feasibility study, and the project is now ready to commence with construction.

Mr. Montjoie started his exploration career managing the off-mine exploration
drilling at Anglo American's Mogalakwena Mine, which contributed towards the
opening and expansion of the Zwartfontein, Mogalakwena South, Mogalakwena
Central and Mogalakwena North pits.

Commenting on the management update, the Chairman of Zeb Nickel Corp., Mr.
James Nieuwenhuys, said: "On behalf of the Board of Directors, I would like to
thank Mr. Isaacs for his years of service and dedication to Zeb. We wish him
all the best in his future endeavors. At the same time, we are excited to have
Mr. Montjoie step into the role of interim CEO. He has our full support, and
we are confident that he will lead the Company through this transition period
with his knowledge, experience, and passion for the mining industry."

Mr. Montjoie said: "I am honored to take on the role of interim CEO and look
forward to continuing to work with our dedicated team to build value for our
shareholders. Zeb has a high-quality nickel asset, and I believe we are
well-positioned to capitalize on the robust nickel market as demand for this
critical metal continues to grow."

About the Company and Project

Zeb Nickel Corp is focused on exploring for and developing world-class mineral
deposits, with a focus on metals that are critical in the production of
rechargeable batteries, such as nickel, graphite, lithium, cobalt, manganese,
copper and aluminum. The Company is currently focused on developing its
flagship Zeb Nickel Project, located in Limpopo, South Africa. The Zeb Nickel
Project is a developing Class 1 nickel sulfide project strategically located
in the Bushveld Complex in South Africa. The Zeb Project Contains a historical
NI 43-101 compliant resource over 3.9 million tons of contained sulfide
nickel, ranking it number 8 in the global top ten nickel sulfide resources
(Mudd, G. M., & Jowitt, S. M. (2014). A detailed assessment of global
nickel resource and trends and endowments. Economic Geology, 109(7),
1813-1841).

 

ZBNI announcement ends

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with URU's obligations under Article 17 of MAR.

 

For further information, please contact:

 

 URU Metals Limited               +1 416 504 3978

 John Zorbas

 (Chief Executive Officer)

 SP Angel Corporate Finance LLP   + 44 (0) 203 470 0470

 (Nominated Adviser and Broker)

 Ewan Leggat

 Harry Davies-Ball

 

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