Prime Mining Corp. Announces Key Changes in Executive Management and Board of Directors

Amends Ownership Rights to Los Reyes Gold and Silver Project

VANCOUVER, British Columbia, June 15, 2020 (GLOBE NEWSWIRE) -- Prime Mining Corp. ("Prime" or “PRYM” or the "Company") (TSX.V: PRYM) (OTCQB: PRMNF) (Frankfurt:A2PRDW) is pleased to announce that Mr. Daniel Kunz has been appointed Chief Executive Officer, replacing Mr. Andrew Bowering who has been appointed Executive Vice-President. Both Mr. Kunz and Mr. Bowering remain members of the Company’s board of directors (the “Board”). In making this transition, Mr. Kunz is relinquishing his role as Executive Chairman.  

Mr. Murray John has been appointed Chairman of the Board and two new Board members have been appointed, with Mr. Paul Sweeney and Mr. Marc Prefontaine replacing Mr. Gregory Liller and Mr. Jorge Ramiro Monroy. Mr. Liller will continue in his current role as Prime’s Vice-President and Chief Operating Officer.

Mr. Sweeney is an experienced finance and mining executive and company director with international experience in both the mining and renewable energy sectors. An independent business consultant since May 2011, Mr. Sweeney is a non-executive director of OceanaGold Corporation, a TSX-listed international gold producer and Adventus Mining Corporation, a TSX.V-listed development and exploration company, where he chairs the audit committee for both companies. Previously he has served on the board of directors of Tahoe Resources Inc. before its sale to Pan American Silver Corp. and as Chief Financial Officer for both Canico Resource Corp. (acquired by Vale S.A.) and Sutton Resources Ltd (acquired by Barrick Gold Corporation) and a senior executive for Plutonic Power Corporation. Mr. Sweeney will act as Chairman of the Company’s Audit Committee.

Mr. Prefontaine is a professional geologist with over 30 years of experience, having worked for companies such as Teck Resources Limited and Hunter Dickinson Inc. As Chief Executive Officer of Grayd Resources Corporation from 2003 to 2012, he led the company through the discovery and initial evaluation of the La India gold deposit in Sonora, Mexico. Grayd was acquired by Agnico Eagle Mines Limited for $275 million. La India has been in commercial production since 2013. More recently, Mr. Prefontaine co-founded Orla Mining Ltd. (“Orla”) and served as Orla’s Chief Executive Officer from 2015 until 2019, acquiring core gold development projects in Panama and Mexico. During his tenure as Chief Executive Officer, Orla’s market capitalization increased from $5 million to $280 million. He is currently a principal of the Marshall Precious Metal Fund, a recently formed resource investment fund that focuses on investing in exploration–stage junior mining companies.