Board of Directors

A. Terrance MacGibbon

Chairman of the Board (Independent), Professional Geologist; Certified Director (ICD.D); and Bachelor of Science (Geology)

Terry MacGibbon is the Chairman of INV, a registered professional geologist and a certified director, Institute of Corporate Directors, with over 45 years of experience in the mining business. Mr. MacGibbon graduated with a B.Sc. (Hons.) in Geology from St. Francis Xavier University. Prior to 1997, he was employed for 30 years with Inco, culminating in him being responsible for directing Inco’s North American and worldwide exploration activities. Mr. MacGibbon is founder and was the Chairman and Chief Executive Officer of FNX from 1997 to 2010. Mr. MacGibbon and his team built FNX from a junior exploration company into a mid-tier, multi-billion-dollar, diversified Canadian mining company that produced nickel, copper, and precious metals from its mineral properties in Sudbury Basin mining camp, Ontario, Canada. In 2010, FNX merged with Quadra to form QUX and from May 2010 to March 2012, he was the Chairman of QUX, which was subsequently sold to KGHM in 2012. Mr. MacGibbon is the founder of TMAC Resources Inc., a company for which he served as Executive Chairman until his retirement in December 2019. Mr. MacGibbon is also a co-founder of INV, a junior resources company exploring and developing the Loma Larga gold project in Ecuador, and he has served as its Chairman since 2006.

In 2005, Mr. MacGibbon was awarded the prestigious PDAC’s Developer of the Year award and in 2005 Ernst and Young honoured Mr. MacGibbon for FNX’s successes with an Entrepreneur of the Year award. In 2018, Mr. MacGibbon was inducted into the Canadian Mining Hall of Fame. He has held directorships and senior executive positions in several TSX and TSX Venture Exchange listed mining companies.

Fred Stanford

President and Chief Executive Officer of the Company,(Non-Independent), Professional Engineer, Certified Director, Bachelor of Industrial Engineering, Bachelor of Science

Fred Stanford is the President and Chief Executive Officer of the Company. He is a mining executive with over 35 years of experience in the mining industry. Mr. Stanford started his career at Vale Canada Limited (“Vale”, formerly Vale Inco and Inco Limited) in 1981 as a software designer and then moved into operations management as an underground mine foreman. He progressed through senior roles in mines operations, processing plant operations, engineering, environmental, health and safety, human resources, and production services operations. In 2006, he was appointed to the role of President of Vale’s Ontario operations, a position he held until June of 2009.

Mr. Stanford graduated in Industrial Engineering from the Technical University of Nova Scotia. Mr. Stanford is also a certified director, Institute of Corporate Directors. He has served on the board of directors of Laurentian University, Cambrian College and the Northern Centre for Advanced Technology (“NORCAT”), a non-profit commercial incubator.

Andrew Adams

Director (Independent), Chartered Accountant (United Kingdom), Bachelor of Social Sciences (Accounting and Statistics)

Andrew Adams is a corporate director and has over 30 years of international financial experience in extractive industries. He served as Chief Financial Officer of Aber Diamond Corporation from 1999 to 2003 and Chief Financial Officer of Anglo Gold North America from 1995 to 1999. From 2004 onwards, he has served as an independent, non-executive director on several Canadian mineral resource companies. Mr. Adams is the independent Chairman of TMAC Resources Inc. (“TMAC”) and also serves as an independent, non-executive director of First Quantum Minerals Ltd. (“First Quantum”). He is the chair of the corporate governance and nominating committee and compensation committee and a member of the audit committee of TMAC. He is also a member of the audit committee and corporate governance and nominating committee of First Quantum. Mr. Adams obtained his Bachelor of Social Sciences (Accounting and Statistics) from Southampton University and then qualified as a Chartered Accountant in the United Kingdom in 1981.

James Crombie

Director (Independent), Bachelor of Science Hons. (Mining Engineering)

Jim Crombie is a mining engineer with over 30 years of broadly based experience in the mining industry. Mr. Crombie has held several senior executive positions with various mining companies, including Hope Bay Gold Corporation, Palmarejo Silver & Gold Corporation until its merger with Coeur d’Alene Mines, and was a mining analyst and investment banker with Shepards, Merrill Lynch, James Capel & Co. and Yorkton Securities. Mr. Crombie is also currently a non-executive director of Nickel Mines Limited of which he is a member of the audit and compensation committees. He graduated from the Royal School of Mines, London, with a Bachelor of Science (Hons).

Frank Davis

Director (Independent), Certified Director (ICD.D); Juris Doctor (J.D.), Master of Business Administration, Bachelor of Commerce

Frank Davis was counsel to the law firm Bennett Jones LLP between March 2013 and September 2019, and prior thereto, counsel to the law firm Fraser Milner Casgrain LLP (“FMC”) from January 2011 to February 2013. Prior thereto, Mr. Davis was a partner of FMC, practicing principally in the areas of securities and capital markets, corporate finance, mergers and acquisitions, mining and corporate governance. Mr. Davis has represented various public companies and investment banking firms in public and private offerings of equity and debt securities. He has acted as counsel to offerors, target companies and financial advisors in both hostile and negotiated merger and acquisition transactions and has been active in a variety of takeover bids, mergers, acquisitions, amalgamations, arrangements and divestitures.

Mr. Davis holds a Bachelor of Commerce, Master of Business Administration and Juris Doctor from the University of Toronto. He is a certified director, Institute of Corporate Directors, and was recognized as a leader in his field by such authorities as The Best Lawyers in Canada, and listed in The Canadian Legal LEXPERT Directory, Who’s Who Legal: Canada, The International Who’s Who of Business Lawyers and Canadian Who’s Who.

David Fennell

Director (Independent), Bachelor of Laws, Bachelor of Arts

David Fennell has over 35 years of experience in the mining industry. He practiced law until he founded Golden Star Resources Ltd in 1983. During his term as president and CEO, Golden Star became a TSE 300 company and one of the largest and most successful exploration companies. In 1998, Mr. Fennell became chairman and CEO of Cambiex Explorations Ltd, which became Hope Bay Gold Corporation. He held this position through the merger of Hope Bay and Miramar Mining Corporation, and remained as executive vice-chairman and director for the combined entity until its takeover by Newmont Mining Corporation in 2008. Mr. Fennell has been instrumental in the success of several resource companies. He currently serves as Chairman of Reunion Gold Corporation and Highland Copper Company Inc., and he is a director of Sabina Gold & Silver Corp, of which he is a member of the safety, health and environment committee and the nominating committee.

Mr. Fennell holds a Bachelor of Arts from the University of North Dakota and a Bachelor of Laws from the University of Alberta.

Michael Murphy

Director (Independent), Certified Director (ICD.D); Master of Business Administration; Master of Science (Finance); and Bachelor of Arts

Michael Murphy is the President and Chief Executive Officer of Global Battery Metals Ltd., a Canadian based mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power, and President of Woodman Capital Ltd., a private consulting company. Mr. Murphy currently serves as a non-executive director of Ethos Gold Corp. Mr. Murphy previously spent 15 years working in institutional equities in London, with Merrill Lynch, Donaldson, Lufkin & Jenrette and Credit Suisse, where he managed the hedge fund coverage team.

Mr. Murphy graduated from the University of British Columbia with a Bachelor of Arts, from the London School of Economics and Political Science with a Master of Science in Finance, and from Saint Mary’s University with a Master of Business Administration and he is a certified director, Institute of Corporate Directors.

William M. (Bill) Shaver

Director (Independent), Professional Engineer; Bachelor of Science in Mining Engineering; and a graduate of the Haileybury School of Mines

Bill Shaver is a seasoned senior mining executive with over 40 years of expertise in mine construction and operations. His early experience includes Teck, Eldorado Nuclear, New Quebec Raglan, Falconbridge and the Redpath Group working on many projects in roles of increasing responsibility. He was one of the founders of Dynatec Corporation which became one of the leading contracting and mine operating groups in North America. More recently, Mr. Shaver was the COO of FNX Mining from October 2008 to May 2010, Executive Vice President of Denison Mines Limited from August 2006 to September 2008, the President and CEO of DMC Mining Services from October 2008 to August 2016 and Principal, Shaver Engineering Limited from August 2016 to March 2017. Mr. Shaver served as the Chair of the Board Workplace Safety North since its inception in 2009 to 2015. He also sponsors scholarships for Masters and Doctorate students working in the safety area at Laurentian University. Mr. Shaver was recognized as the Ernst and Young Entrepreneur of the Year in 2013 for his devotion to bringing innovation to the mining industry.

Elizabeth A. Wademan

Director (Independent), Certified Director (ICD.D.), Bachelor of Commerce; Chartered Financial Analyst (CFA)

Elizabeth Wademan is a corporate director with over 23 years of financial services experience as a senior capital markets executive. Ms. Wademan most recently spent 18 years in investment banking at BMO Capital Markets where she was one of the firm’s most senior capital markets professionals, responsible for leading capital markets advisory and complex transactions. She focused on the global metals and mining and technology sectors and was Head of Global Metals & Mining Equity Capital Markets prior to retiring in 2016. As a former Managing Director in Investment Banking, Ms. Wademan has extensive experience in capital markets and strategic advisory as well as a deep expertise in commodities and securities markets. She currently serves on the boards of SSR Mining Inc., of which she is the chair of the compensation committee and a member of the safety and sustainability committee, BSR Real Estate Investment Trust, of which she is the chair of the compensation, governance and nominating committee and a member and member of the audit committee, and St. Joseph’s Health Centre Foundation.