Manitou Gold Inc. Announces Board and Management Appointments

SUDBURY, Ontario, Jan. 30, 2020 (GLOBE NEWSWIRE) — Manitou Gold Inc. (TSX-V: MTU) (the “Company” or “Manitou”) is pleased to announce that it has appointed Mr. Blair Zaritsky as a director of the Company effective today. Mr. Zaritsky is a Chartered Professional Accountant with more than 15 years of professional experience, principally in the mining sector.

Mr. Zaritsky currently serves as the Chief Financial Officer of O3 Mining Inc. and Osisko Mining Inc. (“Osisko”) and also serves as a director of Talisker Resources Inc. and formerly served as a director of Barkerville Gold Mines Ltd. In August 2015, he was a key part of the successful merger of four companies that helped obtain the flagship Windfall Lake assets that has significantly grown Osisko to over $1-billion market capitalization. Mr. Zaritsky is currently a member of the CPA Canada-PDAC IFRS committee that produces Viewpoints on IFRS accounting issues for the mining industry. He received his C.A. designation in 2003 with Collins Barrow LLP (now RSM Richter Inc.) and holds a Bachelor of Arts, (Hons.) Economics from the University of Western and a Bachelor of Accounting, (Hons.) from Brock University.

Concurrently with the appointment of Mr. Zaritsky, the Company has accepted the resignation of Mr. Craig Stanley, who has resigned from the board of directors to pursue other interests. The Company wishes to thank Mr. Stanley for his contributions to Manitou and wishes him well in his future endeavours.

The Company also announces that Mr. Donato Sferra has been appointed as Vice President Corporate Development of the Company. Mr. Sferra is a Managing Partner of Hillcrest Merchant Partners and has an extensive background in the financial services industry spanning approximately 20 years. Mr. Sferra began his financial career as an equity research analyst at TD Securities, specializing in auto parts, industrials, solar and automation. He then spent two years as Vice President of Investments at Pinetree Capital Ltd., a small-cap focused firm and an angel investor in the mining, energy and tech investments sectors before moving to Macquarie Group to serve as the firm’s Director of Institutional Sales, with a particular emphasis on mining. Mr. Sferra spent five years at Dundee Capital Markets, first as Director of Institutional Sales, then as Co-Head of Investment Banking, running the mining, cannabis, technology, gaming and specialty pharmaceutical practices. Mr. Sferra has extensive merger experience across the aforementioned sectors and was intimately involved as an advisor in the merger of the four public companies in what was the restart of Osisko.

The Company has also accepted the resignation of Pat Dubreuil as President of the Company. Mr. Dubreuil has been appointed as Vice President Community and First Nations Engagement. Mr. Richard Murphy, the current Chief Executive Officer and a director of the Company, has been appointed as President.

For further information on Manitou Gold Inc. contact:
Richard Murphy, CEO Telephone: 1 (705) 698-1962

Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Manitou, including, but not limited to the receipt of applicable shareholder approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements