TRU Closes CAD$3 Million Strategic Investment from Ormonde Mining Plc - Seite 2

In connection with the closing of the Offering, Ormonde has the right to appoint three out of five of the Company's board of directors (the "Board"), with each such appointee subject to TSX Venture Exchange approval. As such, in addition to Brian Timmons who joined the Board on June 30, 2023, Steve Nicol has been appointed to the Board as Ormonde's second nominee. The final Ormonde Board nominee is expected to be appointed and announced shortly.

Mr. Nicol is a mining engineer with over 35 years of experience in the mining industry, including operations management, mine evaluation and development, and other diverse corporate roles. His experience covers open pit and underground mining, CIL, flotation, and gravity processing, and direct hands-on management of all phases of diverse mining projects, from early-stage exploration through to mine closure and rehabilitation, for a variety of commodities including base, precious and specialty metals and diamonds.

To accommodate Mr. Nicol joining the Board, David Hladky has resigned as a director of TRU. Mr. Freudman added: "We thank Dave for his valuable contributions as a director to the Company since 2020. On behalf of the Board and management, I wish him the very best with his future endeavours and look forward to his continued support as a shareholder. We also take this opportunity to welcome Steve Nicol to our Board, and expect he'll provide tremendous insights to TRU as he applies his mineral project development acumen to our advancement of the Golden Rose Project."

The securities issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.